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Southtech Ascend Banking System Version 5 Released

Southtech assessed at CMMI Level 3 Quality Standard

Southtech Wins International Bid

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Automation works of 1,131 BRAC offices completed

 


Dhaka, 29 June 2006

Press Release

BRAC Afghanistan Bank to Install Southtech Ascend Banking

Dhaka, 29 June 2006: BRAC Afghanistan Bank today signed an aggrement to install Southtech Ascend Banking at their Head Office and Main Office in Kabul and other new branches in the country as and when they are opened. The agreement was signed by the Chairman of BRAC Afghanistan Bank, Mr. Fazle Hasan Abed and the Managing Director of Southtech, Mr. Syed Mamnun Quader. Other senior members present on the occasion were Mr. Aminul Alam, Deputy Executive Director of BRAC, Mr. M. Ehsanul Haque, Managing Director of BRAC Afghanistan Bank, and Mr. Shawkat Hussain, Senior Vice President of BRAC Afghanistan Bank. The new bank is scheduled to open its doors to the public in September 2006.

After the signing ceremony, Southtech's Managing Director said, "We are committed to serving the international banking community with utmost professionalism and dedication. Southtech Ascend Banking has already been audited by PricewaterhouseCoopers and suggestions made to improve the software have already been incorporated. BRAC Afghanistan Bank shall within a few weeks begin its operations with our existing version of the software which is already known to be the most advanced in Bangladesh. We are already working on a new version, Version 5, which will be ready by the second quarter of 2007 and will be installed in Afghanistan as per contract. It will be an n-tier client-server system and be independent of database and operating system platforms thus allowing clients to choose whatever database or operating system they wish to have for the database server. It will also incorporate many futuristic features that are currently unheard of in the banking industry worldwide. We intend to compete with the largest and most successful software companies in the world."

Southtech is the largest ISO 9001:2000 Certified software company in Bangladesh and a Gold Certified Partner of Microsoft. It is the largest microfinance solution provider in the country and completed 10 years of its operations in May 2006.

For more information, please contact:

enquiries@southtechlimited.com


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