Laser Soft provides 'e-Circular' to Syndicate Bank

Chennai, Sep 28: City-based Laser Soft Infosystems Limited has provided its innovative product "e-Circular" to Syndicate Bank, which facilitates instant delivery of circulars, application formats and loan arrangements from the head office to all concerned branches.

Explaining the features of the product, Mr B Suresh Kamath, Managing Director, Laser Soft, said banks spend huge amounts every year on stationery to issue printed circular to their branches and the introduction of e-Circular, would help them to cut down costs as the products facilitiates electronic movement of information and guidelines.

"Banks can save upto Rs One crore annually for every 500 branches and the entire investment on the product could be recouped within few months," he said.

He said the banks need not incur any additional expenditure on Information Technology to use the product as it works on the already existing intranet of the bank.

The company has implemented the product in 5,000 branches of State Bank of India (SBI) and about 1000 branches of Corporation Bank and United Bank of India. The product would shortly be implemented in seven associate banks of the State Bank group as well.

UNI