IITL to go overseas with CR2 solutions

DQW Bureau
New Update


Rashida Bakait

Mumbai-based IndusInd Information Technology (IITL)-the IT arm of the IndusInd bank-after being the first company to deploy CR2's Bank World technology for the IndusInd bank has plans to go overseas with the same. IndusInd has used Bank World technology to implement Internet banking channel.


Speaking to CNS, RP Singh, Principal Consultant, IITL said that Bank World Technology provides global financial institutions with the ability to deliver and integrate secure e-banking and m-banking channels with the traditional mix of ATM, branch and call center. BankWorld manages the banking channel mix and the complexity of customer choice. Singh expects the Bank World project at IndusInd bank to be completed in the next couple of months.

Besides catering to the in-house bank, IITL is also targeting other banks and financial institutions to implement Bank World technology.

According to the Retail Banking Research, global spend on retail Internet financial system is expected to reach $ 2-7 billion by 2003. IITL has plans to tap the global market and go overseas. In the same pursuit, Singh told CNS that IITL plans to establish competence center in the Middle East where the center will house all the consultants and other required facilities for the project implementation. The other countries IITL is planning to spread its wings include Iran, Saudi Arabia and UAE, wherein the company would partner with the local players to market their technology to the banks and the financial institutions located in the region.


Outlining the value added feature in the Bank World suite, Singh said that IITL has developed Depository Model to be provided with the suite. He revealed that the same has been developed based on the Indian market.

Besides this, IITL has also tied up with the in Dubai to launch a B2B portal in India, the software technology would be provided by, while hardware and infrastructure from


The other CR2 solutions that IITL is planning to offer include Card World. CardWorld offers total card management solutions for banks and third-party issuers that include card issuing, merchant acquiring, payment switching, smart card systems, card production and card account management.