Cosmos Co-operative Bank, India has chosen BPC Banking Technologies’ SmartVista suite to replace its Electra-based legacy payments solutions.
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The turnkey project includes implementation of SmartSwitch, SmartATM, SmartIssuer, SmartGuard, SmartMerchant and biometrics, and e-commerce solutions covering online transactions.
The first ecommerce solutions will be rolled out in 2015, while full launch of all services are scheduled in the first quarter of 2016.
SmartVista has been designed to improve ATM and POS management by consolidating disparate systems into one solution. It will also offer card management capability for debit and prepaid cards.
This is expected to help the bank reduce operating costs and boost speed to market for new products and services.
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By GlobalDataAfter implementation of the new solution, the bank will be able to control configuration and modification of the new processing system on their own that will help the bank develop payment products faster with lower deployment costs.
Cosmos Bank chief information officer Vasant Manwadkar said: "We chose SmartVista for many reasons, the functionality of course, as it is modern state of the art solution, but more importantly was BPC’s approach and willingness to work with us in a flexible manner.
"This will help us realize our objectives, of being in control of our own payments systems, bring down our historic total costs and ultimately enable us to give our customers what they want."
