Given the rising population and the government’s ambitious plan to achieve 100 percent financial inclusion in the country, the Indian Banking & Financial Services sector is witnessing sharp growth in recent times. The massive number of transactions that are being processed each day has forced BFSIs to adopt the latest technologies like AI and ML to automate their entire process. This in turn has created a massive demand for banking automation solutions, which are now acting as a fertile ground for businesses to operate in.

Bangalore-based Processware Systems is one company that stands a notch higher than the rest of the companies in the industry due to its vast industry experience and a clear understanding of all the intricacies involved in the process. Founded in 1990 by Guru Murthy (Founder) Process ware is one of India’s leading software products development companies offering a wide range of cutting-edge technology solutions mainly to BFSI, manufacturing, and aerospace verticals.

“Processware is a 30-year-old organization with deep domain skills in the Banking sector. We have developed a suite of digital banking solutions to meet the needs of the financial sector. The solutions are widely accepted and being used by 500+ financial institutions across India. Processware was the first organization to offer a Core Banking solution on the cloud in 2011 on a subscription basis. This enabled even smaller financial institutions to adopt technology and provide financial services to their customers

at their doorstep”, says Guru Murthy, Founder, Processware Systems.

An AS 9100:2016, ISO 9001:2015, and CMMI DEV/3 certified company, Processware offers suits of cloudbased Digital Banking and Document Management Solutions that include Core Banking, Mobile Banking, Online Banking, Agent Banking, Anti Money Laundering, AI-based Digital Lending Platform, and Comprehensive BI Dashboard, to name a few. Additionally, the company’s products BANKSOFT, PRODMASTER, and EDUSOFT have gained widespread popularity in their respective verticals due to their operational efficiency and user-friendly features.

Client satisfaction is paramount to us & we follow a ‘no compromise’ attitude towards the quality & efficiency of our solutions

“We are involved in the design and development of various software applications that suit every customer’s requirements. Client satisfaction is paramount to us and we follow a ‘no compromise’ attitude toward the quality & efficiency of our solutions. The process of development of every product/solution is carefully monitored and managed by skilled Project Managers to meet the time and quality requirements of the client”, adds Guru.

Being a tech-savvy company, Processware has always been a pioneer in the industry when it comes to adopting the latest tools and technologies such as AI algorithms for credit assessment, fraud detection, and many other use cases. The company uses Microsoft technologies for the design, development, and deployment of all its solutions. Additionally, it has also developed an AI-based model in association with IIM Bangalore to ease the hassles of the credit assessment process in the banking sector.

Owing to such exquisite offerings and industry-best practices, Processware has served 460+ clients across six countries and processed over 50 million transactions on the cloud since its inception. Some of its prominent clients include Sri Sudha Co-operative Bank, RBI Employees Coop Bank, Ashoknagar Co-operative Bank, Manvi Urban Co-operative Bank, Vasavamba Co-operative Bank, Bramarambha Souharda Co-operative, Alliance Microfinance (Myanmar) and Kokopo Microfinance (Papua New Guinea), to name a few.

“Going forward, we will continue to bring new technology solutions to the banking industry. Our product development team is constantly working on new products aimed at investments, fiscal risk assessment, customer experience, and other critical areas”, concludes Guru, explaining his company’s future roadmap.