Date:06/06/2006 URL: http://www.thehindubusinessline.com/2006/06/06/stories/2006060603160400.htm

Back Malaysia's CGC deploys KASTLE

Our Bureau

Mumbai , June 5

3i Infotech's universal lending solution `KASTLE{trade}' has been chosen by Credit Guarantee Corporation. Malaysia Berhad (CGC), one of Malaysia's leading Development Financial Institutions, for its business operations.

The company did not specify the size of the contract, but called it "a multi-million Ringgit win".

As per the terms of the agreement, CGC will use KASTLE(tm) Universal Lending to enhance itself as an Small & Medium Enterprise-friendly Development Financial Institution with SME portals and SME call centers, said a statement from 3i Infotech.

exponential growth

"CGC is experiencing continued demand for its various guarantee schemes, including its recently launched Islamic guarantee scheme. With our exponential growth year on year, we have to enhance our capacity for expansion and growth. By upgrading our credit processing system through these initiatives, it will allow us to gain not only higher operational efficiency but also the capacity to better serve our customers," says the CGC's Managing Director, Mr Datuk Wan Azhar Wan Ahmad.

This win establishes 3i Infotech as one of the companies worldwide offering a comprehensive solution, addressing both the Retail and Corporate lending space across conventional and Islamic banking products, said Mr Hari Padmanabhan, Deputy Managing Director, 3i Infotech Ltd.