CSB, LSIL to jointly develop core banking solution

Chennai, Sep 14 (UNI) The Catholic Syrian Bank (CSB) and Laser Soft Infosystems Limited (LSIL), a Chennai-based banking software product company, will jointly develop a core banking solution for CSB.

Teams from CSB and LSIL will be involved in the Rs 40-crore browser-based CBS project which is both cost-effective and highly scalable, Bank Chairman N R Achan and LSIL Managing Director B Suresh Kamath told newsmen here today.

By March 2007, the bank hopes to bring 50 branches under the CBS, Mr Achan said.

The project would cover even rural and small town branches in the country and include retail, corporate, rural banking and trade finance in a phased manner.

The CBS will meet all regulatory norms and BASEL II standards, Mr Kamath said.

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