PSI partners with Bolero to set up an ODC in India

Bangalore, Mar 22 (UNI) PSI Data Systems Limited, a leading IT solutions provider, today announced a partnership with Bolero, a leading financial supply chain (FSC) management application software provider to set up an Offshore Development Centre (ODC) in India.

As part of the agreement, PSI would extend application development, maintenance and field support services to Bolero, a PSI release here said.

The ODC would support a powerful electronic compliance and matching solution from Bolero that delivers online reconciliation of trade data. This solution incorporates aspects of existing paper based settlement methods but, through automation, eliminates expensive and time-consuming manual activities that characterize current settlement services.

Bolero was an open platform designed to enable paperless trading between buyers, sellers, logistics, banks, agencies and regulatory authorities anywhere in the world, delivering transaction visibility, predictability, speed, accuracy and security, the release said.

The ODC would also help Bolero maintain its financial supply chain suite of products and carry out enhancements on an ongoing basis and when required take up customer specific implementation consultancy activities.

''Bolero's objective of setting up a dedicated offshore software development centre to develop and maintain its specific FSC applications aligns very well with PSI's strategic focus in providing corporate banking solutions and services. The FSC provides new paradigms of doing business between counter-parties buying and selling goods and services,'' the release said, quoting Mr Sampath Iyengar, CEO, PSI Data Systems.

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