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Dhaka, 2 January 2006
Press
Release
Southtech Millennium Banking SystemŪ (Southtech MBSŪ) has been renamed as Southtech Ascend BankingŪ from 1st January 2006. Southtech Ascend BankingŪ is an integrated online banking system that has been running successfully for over five years and is a highly parameterized banking software suitable for commercial and retail banks that also have large SME and microfinance operations
"We have renamed our banking product to avoid a market misconception that Southtech had jointly developed the software with another company, Millennium. In view of world and national trends we also took the opportunity of interfacing our flagship microfinance product, Southtech Ascend .NET with Southtech Ascend Banking which allows our clients access to a wider choice of financial products at their disposal", said Southtech's CEO and Managing Director, Syed Mamnun Quader.
"While Southtech Ascend .NET interfaces with Southtech Ascend Banking, we are now working towards making the two products integrate seamlessly such that a banking institution wanting to enter the MFI space can do so quickly. Similarly, if an MFI, if allowed to offer mainstream banking services to the public, can do so quickly," said Southtech's Head of Financial Products & Services, Md. Feroz Ahasan.
Established in May 1996, Southtech is a Gold Certified Partner of Microsoft and an ISO 9001:2000 certified company for software design, development, maintenance and sales.
For further information, please contact:
enquiries@southtechlimited.com
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