Omnitech deploys NG-RTGS for Solapur Janata Sahakari bank

Omnitech InfoSolutions has signed a 3-year contract with the Solapur Janata Sahakari Bank (SJSB) to install and support the Next Generation Real Time Gross Settlement (NG-RTGS) and three niche payment solutions.

The NG-RTGS system is based on eXtensible Markup Language (XML) messages conforming to ISO 20022 standards.

Besides the software, the deal includes deployment of gateway servers, networking, and a disaster recovery site. It also entails implementation of Omnitech's three niche payment solutions for notifications, liquidity management and payment messages reconciliation.

"This is our first NG-RTGS implementation in the country. We have successfully implemented RTGS in more than 70 banks in the last few years," said Atul Hemani, MD and CEO, Omnitech.
"With our continued focus on becoming a transformational partner for the cooperative banks, our Payments Center of Excellence has been working on automation solutions," he added.

Vinayak Date, Chairman, SJSB, said, "The move to implement NG-RTGS was to be more competitive in terms of providing innovative financial products and services to our customers. Collectively, the solutions have ensured that our customers can now avail services at par with global standards, and enhance our business operations."