IndusInd Bank chooses Calypso treasury tools
India’s IndusInd Bank has installed a new system from Calypso Technology that it says will help it grow its treasury activities, increase its global markets business and better manage risk.
Mumbai-based IndusInd Bank was formed in 1994, and currently has 461 branches and 852 ATMs in India. It is a clearing bank on the Bombay Stock Exchange and India’s National Stock Exchange, and is also active on commodities exchanges MCX, NCDEX and NMCE. The bank is using Calypso technology to assist its planned expansion, including the creation of a new treasury platform and an increased range of products, especially in derivatives.
“Implementing the Calypso integrated solution for our treasury will enable us to offer new sophisticated products to our customers and grow our business,” said Paul Abraham, chief operating officer at IndusInd Bank. “It will provide us with the right platform to manage our capital and risk efficiently.”
The Calpyso system has support via a local office in Mumbai.
IndusInd Bank calls itself the first of the new generation private banks in India. Founded by businessman Srichand P. Hinduja, the bank takes its name from the Indus Valley civilisation. The Bank currently has a target to grow its business by doubling its profits, clients and branches within the next three years.