Bermuda-based Clarien Bank has selected VSoft’s Software as a Service (SaaS) delivery model for its OnView Back Counter Deposit solution.

The implementation of Vsoft solution will enable the lender to streamline deposit capture processes and reduce errors.

VSoft and data

It will also enable Clarien Bank to utilise VSoft’s data centre. This provides various financial services including software solutions to the banks and other institutions.

Clarien Bank COO Minish Parikh said: “Clarien Bank strives to be the trusted advisor of choice to our customers and provide them with world-class products and services.

“VSoft has proven to be a strategic partner in meeting these goals, and by transferring our deployment of their solution to a SaaS model, we can ensure we stay compliant with the changing regulatory environment.”

He also added that utilising the VSoft’s data centre in the mainland will bring significant cost benefits to the company. Furthermore, it will increase operational efficiency.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Parikh opined: “This transition enables Clarien Bank to spend more time building relationships with our customers and addressing their needs.”

The implementation of VSoft’s SaaS solution provides the financial institutions with remote access. This eliminates the need to invest in the development of an indigenous architectural solution.

VSoft chairman and CEO Murthy Veeraghanta said: “The SaaS delivery model continues to draw financial institutions like Clarien Bank because it allows them to operate at the forefront of software development while eliminating the expensive cost of upkeep experienced with an on-premise solution.”

Privately-owned Clarien Bank is in Bermuda. It has more than $1bn in assets.