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Joint Seminar with Stromme Foundation on "Technology Effectiveness for MFIs"

Southtech Ascend Banking Presented in "Moving Forward with Innovation" Conference in Manila

Southtech and Cambodian Microfinance Association Hold Seminar

Development Initiative for Social Advancement (DISA) and Southtech Sign Contract For Ascend Banking (MFV)

Sajida Foundation and Southtech Sign Contract For Ascend Banking (MFV)

Southtech and BRAC signed an agreement to automate 1,000 new branches with Ascend banking system (Version 5)

CRISL Rates Southtech

Southtech Celebrates Achievement of CMMI Level-3 Appraisal

Southtech Ascend Banking System Version 5 Released

Southtech assessed at CMMI Level 3 Quality Standard

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Southtech MBSŪ has been renamed as Southtech Ascend BankingŪ

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Southtech sponsors 7th International Conference on Computer and Information Technology (ICCIT)

Southtech Limited Continues Registration to ISO 9001:2000

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Southtech signs contract with PRICECLUB

Southtech becomes ISO 9001:2000 certified

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Automation works of 1,131 BRAC offices completed

Dhaka, December 29, 2009

Press Release

BRAC and Southtech Sign New Contract

DHAKA, 29 December 2009: Southtech Limited and BRAC today have signed an agreement to automate 1,000 new branches of BRAC with Ascend Banking (Version 5). BRAC’s new branches are designed to address the “unbanked SMEs” throughout Bangladesh. The implementation will be rolled out in three phases; first phase implementation shall be rolled out in fifteen branches followed by 85 branches in the second phase and 900 branches in the third phase.

Built with the latest Microsoft Technology, Ascend Banking is a sophisticated banking solution for retail and microfinance banks. It comes in two version streams; one is for microfinance organizations only (microfinance version) and the other is for retail banks with additional features for microfinance operations (banking version). BRAC already has the microfinance version running in over 2,500 exiting branches but the 1,000 new branches will have the banking version running. Both versions allow data consolidations at the head office level, with a large number of sophisticated reports for top-level decision making.

Southtech Limited is a Gold Certified Partner of Microsoft and an Oracle Partner. It is also a CMMI Level 3 appraised and an ISO 9001:2008 certified software company. Ascend Banking has been independently assessed by World Bank affiliated CGAP and rated as one of the best. It has been installed in a host of different financial institutions ranging from development organizations to multinational banks in Bangladesh, Afghanistan and Bhutan.

BRAC is the largest non-government development organization in the world with extensive operations throughout Bangladesh and operations in South Asia, Africa, Central Asia, USA and the UK.

For more information, please contact

e-mail: enquiries@southtechlimited.com
web: www.southtechlimited.com

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