"CTS drove our growth"

DQW Bureau
New Update


What has been the company's major growth driver?

Cheque Truncation System (CTS) or the image-based cheque clearing system has

been the major growth driver for the company. Central banks of many countries

like India, UAE, Saudi Arabia have made CTS mandatory, which in turn has worked

in our favor as most banks have opted for our solutions.

What is unique about Newgen's CTS?

We have developed the CTS on a BPM platform, and have added all

functionalities that make it flexible. Thus, the user has an advantage of making

any change as per his business requirements. Further, the same technology can be

used in retail banking, trade finance, and credit card.In addition to complying

with the RBI mandate, they wanted to apply this solution to others that would in

turn increase their RoI.


How favorably is the Indian market in adopting new technologies?

The entry of MNCs has given impetus to the Indian market growth as they get

newer technologies. MNCs are ready to adopt software solutions that will help

them grow faster and also open branches in less time. On one hand, bigger market

size is attracting these MNCs to set shop in India and on the other competition

has made it imperative to adopt solutions that will give them a competitive



What is the status of upgradation from Basel I to Basel II by


Even though RBI has fixed a deadline for banks to upgrade from Basel I to

Basel II, it is not very strict about it. Thus, it is taking time for banks to

adopt it. The adoption rate is not that impressive as not many banks have opted

for compliance solutions. On our part we are going to the banks and trying to

convince them.

What about your partnership with Sinosoft and HP?

Unfortunately the partnership with Sinosoft has disappointed us.


But HP has been a good partner for us from many years. We want

to strengthen our partnership not only in India but other countries as well.

Chethana Gadiyar