SAS partners with C-edge to offer analytical tools to small & medium banks
The cloud based solution will save substantial CAPEX for small & medium banks
Mumbai, India (May 02, 2014) – SAS, the leader in business analytics software and services, today announced the strategic partnership with C-Edge Technologies Ltd, a joint venture between Tata Consultancy Services (TCS) and State Bank of India (SBI), which offers cloud-based banking solutions for banks in India.
C-Edge will be leveraging SAS' global domain expertise in banking industry and its analytical tools to develop best in class Automated Data Flow (ADF) solutions for banks in India. The ADF solution will address the mandatory requirements of RBI of deploying automation in internal data flow to generate returns without manual intervention. The strategic collaboration between C-Edge and SAS will ensure that banks in India achieve complete automation on a hosted model; and have uniformity and reliability of information, while submitting its returns to RBI with the help of a Centralised Data Repository (CDR).
Commenting on the strategic partnership, Sudipta K Sen, Regional Director - South East Asia, Vice Chairman and Member of Board, SAS Institute (India) Pvt. Ltd, "We are proud to work with C-Edge in developing ADF solutions on a hosted model for small and mid-sized banks. We are confident that our business analytics framework will equip C-Edge to enable smaller banks meet regulatory requirements and gain competitive edge by achieving digital transformation in the organisation."
"We will be leveraging SAS tools in this development and C-edge's in-house technical capabilities and deep, working knowledge of Banking Solutions to create a superior offering fully integrated with source systems like Core Banking System, Trade Finance system, Treasury System, General Ledger System, etc.. We are confident that this solution will enable banks to adhere with RBI regulatory requirements and at the same time help reduce Capex costs typically associated with such complex IT solutions" said, K Krishna Kumar, CEO, C-Edge Technologies Ltd.
The ADF solution will be extended further catering to MIS solutions, business analytics and management dashboards. In future, both the solutions and the underlying Business Analytic Framework can be seamlessly extended to other business solutions such as Risk Management, Customer Intelligence or Fraud Management, thus leveraging the existing investment of the banks.
About SAS India
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 70,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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