CITIL’s Banking Product Makes International Waves
In the early nineties, when most of the software companies were concentrating on the software services market, CITIL took the bold initiative of venturing into packaged software vertical market. CITIL launched its MicroBanker Release 1.0 in 1991, targeted at the International banking community and decided to compete with established large players like ACT Kindle and MKI. Within a short span of five years, CITIL and its product have made the software industry in India proud by achieving a very unique landmark.
MicroBanker was rated as the #1 Selling Integrated Banking Software for 1995. According to the Annual Sales Survey conducted by International Banking Systems, a Trade Magazine published from London, MicroBanker won the highest number of new customers in 1995.
Prominent amongst CITIL’s customers are HDFC Bank in Mumbai which is using the package for 18 branches as a centralised solution, giving it the “Anywhere Banking” capability; Finance Bank of Zambia which chose MicroBanker for its 35 branches network in Zambia and also at its three overseas branches. Today, MicroBanker has a dominant presence in a number of countries, with many banks in each country standardizing on the MicroBanker solution.
MicroBanker is backed by a Product Factory at Bangalore, where enhancement to the product are carried out. The Global Support Center is a key element of the Factory, providing 24 X 7 support to customers worldwide. In addition, CITIL has local support centers in 6 countries to assist MicroBanker customers in and around that country.
CITIL’s commitment to continuous improvement of software engineering processes has played a pivotal role in delivering high-quality packaged products and support services. CITIL has successfully implemented the Capability Maturity Model of Software Engineering Institute and was formally assessed at Level 4 Process Maturity.
MicroBanker is currently in Release 9.2 and has built-in interfaces with CITIL’s other products –
MoneyMaker – The Dealing Room Solution, Finware – the Retail Banking Solution, Customer Access System, an Electronic Banking Solution for Corporate Customers.
The current installed base of the MicroBanker product encompasses 62 banks outside of Citicorp, spread over 35 countries.
