Credence Analytics wins recognition at The Banker Technology Awards 2003, London

Credence Analytics wins recognition at The Banker Technology Awards 2003, London

Mumbai, India
5th July 2003

Credence Analytics (I) Pvt. Ltd., the India-based specialist financial software solutions provider, recently won accolades at The Banker Technology Awards 2003 ceremony in Vinopolis, London. Credence Analytics was the only company to be recognised as a Highly Commended" software solutions provider in as many as three key categories including Treasury, Messaging Technology and Network & Infrastructure. Four Indian companies including Credence Analytics, TCS, Polaris and CashTec were given awards for various categories. Credence Analytics was the only company of the four Indian companies to be awarded recognition across multiple categories.

With this recognition Credence has strengthened its position as the leading treasury and risk solutions provider with a strong domain background. Specifically, Credence Analytics Mercury-fx, which is its latest product offering for real-time merchant forex operations management, was specially mentioned as a product offering in the areas of messaging and network & infrastructure for its innovative use of Instant Messaging and XML. Mercury-fx overcomes geographical differences to connect client server applications to collaborative applications with distributed databases and addresses the limitations of the manual process of foreign exchange administration and book-keeping.

Commenting on this achievement Vijay Simha, the CEO of Credence Analytics, mentioned These awards would give a fillip to Indian software products in the global marketplace. Our vision at Credence Analytics is to establish a suite of innovative branded software solutions for the financial services industry which would become global market leaders."

As part of this strategy Credence Analytics has been adopting new technologies like instant messaging, wireless applications, etc to develop products to address specific processes in the financial services industry. The primary focus is to provide simple but powerful applications for time-sensitive critical processes. The company's aim is to offer a compelling value proposition at very attractive prices. This approach towards its products helped Credence Analytics stand out among the scores of other solutions providers for these awards.

The Technology Awards 2003 was initiated by the internationally renowned 'The Banker' magazine, which is a publication of the Financial Times group, with the purpose of acknowledging the noteworthy contribution of the software solution vendors who have helped their clients provide better value and service to their shareholders. The Awards looked at various vendors for their achievements and innovation in technical applications & services in investment, wholesale, and retail banking areas.

The jury that judged several hundred entries in 41 categories, comprised of eminent personalities namely Ray Morgan, Head of I.T. for HSBC Bank in the UK, Chris Skinner, Chief Executive of Balatro Ltd. and founder of Shaping Tomorrow, and Bob Fuller, information technology director at Dresdner Kleinwort Benson & John W. Stone, managing partner TowerGroup International Advisory Services.

The focus was on the competitive edge that can be gained by innovative technology and can aid in developing perfect synergies between technology solutions and services to cater to the needs of the banking industry.

Credence Analytics is a specialist financial solutions provider and is the market leader in treasury and risk solutions. Credence has been using new technologies to provide innovative solutions to banks and financial services companies to aid them in better decision making and client servicing.

For further information, please contact:

Aradhana Ray
Asst. Manager -- Business Development
Credence Analytics (I) Pvt. Ltd.
T : 91-22-2633 1094
F : 91-22-2631 3627
Email: aradhanaray@credenceanalytics.com

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