Company Research Report: Processware Systems

Company Overview

Name

Processware Systems

Mission

Processware Systems aims to provide quality solutions to business problems through innovative software products.

Founded

1989

Founders

No information is available

Key People

No information is available

Headquarters

#33, Patalamma Temple Street, Basavanagudi, Bangalore - 560 004, Karnataka, India

Number of Employees

No information is available

Revenue

No information is available

Known For

Processware Systems is known for its suite of digital banking solutions under the BankSoft brand, along with other software solutions in multiple sectors such as BFSI, Manufacturing, and Aerospace.

Products

Core Banking Solution

• Description: Comprehensive solution designed to meet the requirements of financial institutions.

• Key Features:

• Integrated modules including Savings Bank, Term Deposit, Current Account, etc.

• Scalable and secure, stress tested at IBM Innovation Labs.

• Over 300 in-built MIS reports.

• User-friendly interface.

AML (Anti Money Laundering)

• Description: Designed to capture unusual and suspicious transactions.

• Key Features:

• Developed as per RBI guidelines.

• Integrated with Core Banking Solution.

• Generates regulatory reports such as STR and CTR.

Financial Inclusion

• Description: Suite of solutions integrated into the Core Banking Solution to extend financial services to remote locations.

• Key Features:

• Hub and spoke model for reaching remote customers through agents.

• Robust technology and scalability.

• Deployed in collaboration with the Bill and Melinda Gates Foundation.

Branchless Banking

• Description: Enables financial institutions to reach customers without opening new branches.

• Key Features:

• Handheld POS devices with biometric authentication.

• Real-time data transfer via GPRS.

• Integration with Core Banking Solution.

Mobile Banking

• Description: Full-fledged mobile banking application for Android.

• Key Features:

• 2-factor authentication.

• Integration with Core Banking Solution.

• Enables various banking transactions on mobile.

Data Analytics

• Description: Business Intelligence tool built on Microsoft SQL Server 2008.

• Key Features:

• Analyzes customer data, deposits, advances, investments, and performance.

• Helps banks target marketing activities and optimize customer profitability.

Internet Banking

• Description: Comprehensive internet banking application for online financial transactions.

• Key Features:

• Developed using secured protocols.

• Enables various banking operations from a browser.

• Supports fund transfers, bill payments, and more.

Total Branch Automation

• Description: Enables small financial institutions to automate transaction processing.

• Key Features:

• Developed using Visual Basic and Microsoft SQL server.

• Over 350 in-built reports.

• Interfaces compatible with ISO 8583 standards.

Islamic Banking

• Description: Comprehensive solution for Islamic financial institutions.

• Key Features:

• Supports products compliant with Shariah principles.

• Includes Murabaha, Ijara, Mudaraba, Musharaka, and Bai Salam products.

Edusoft

• Description: Software for educational institutions to simplify administrative needs.

• Key Features:

• Tracks student admissions, examination, fee payments, and more.

• Various modules including Examination, Hostel, Financial Accounting, and Payroll.

Microfinance Solution

• Description: Integrated solution for Micro Finance Institutions.

• Key Features:

• Supports low transaction amounts and a large number of customers.

• Built on Microsoft SQL Server.

• Interfaces for field-level transactions through agents using POS devices.

Prodmaster

• Description: SaaS (Software as a Service) model for various industries.

• Key Features:

• Global accessibility without additional hardware.

• Monthly subscription includes hosting, maintenance, support, and upgrades.

Recent Developments

New Products Launched

• No information is available

New Features Added to Existing Products

• No information is available

New Partnerships

• Partners include IBM, Microsoft, Basix, Maximus, Trimax, Calmar Research Corporation, Olive Transaction Intelligence, Campura, My Asia, and Nishkajay Infotech Solution.

This detailed report provides an overview of Processware Systems, its offerings, and market positioning based on the available data.