Bangalore: The banking software QUARTZ has been chosen by the Global Banking Services Division of Société Générale as the core system of the European Platform for its international operations, covering initially Switzerland, Spain, Germany, United Kingdom, the Netherlands, Belgium and Italy.
QUARTZ has been selected for both payment and client accounting management systems, after an intensive selection process, which included the installation and verification of a Proof of Concept on a server at Société Générale. QUARTZ will provide institutional banks and corporate clients banking services in the areas of domestic and international payments, client account management products, billing and other related functionality.
The comprehensive native features of QUARTZ in payment and client account management, its multi-entity architecture and outstanding flexibility, and the ability of Tata Consultancy Services to customise and integrate QUARTZ in record time were the key-decision factors.
S Ramadorai, CEO, TCS, said "This project is extremely important for us. The challenge will be to integrate a multi-entity solution and interface it with in-house and external systems of Société Générale. This solution will cover several different European countries. We are confident that QUARTZ will once again prove its amazing technological advantage over the existing systems".
QUARTZ is based on a n-tier client/server architecture and is truly a new generation banking software. The powerful object-oriented package protects existing hardware and software investments, largely automates front and back-office operations, provides multiple language support and offers complete flexibility for future developments. QUARTZ is a truly state-of-the-art product that serves any international banking project
QUARTZ is currently live and being implemented in several other banks in Europe, Asia and USA.
Tata Consultancy Services (TCS) provides end-to-end IT consulting and software services to Fortune 500 clients in over 55 countries. With 19,000+ consultants, 106 branches, alliances with world IT leaders, cutting edge R&D, and world class infrastructure, TCS offers products and services in eBusiness, application development, architecture and technology consulting, engineering services, security, large projects, quality consulting and infrastructure development, across verticals such as banking, financial services, insurance, telecom, manufacturing, retail, transportation, healthcare, government and utilities.
TCS is a SEI-CMM Level 5/P-CMM Level 4 company with a 2000-01 turnover of $689 million.
QUARTZ is essentially an integrated software package realised as a collection of proven architectural and business components for financial institutions. Solutions have been delivered to traditional banks, Internet banks, brokerage/securities houses, asset managers and central banks across the globe using QUARTZ. Its advanced design and technology supports operations in multi-currency, multi-lingual, multi-company, and multi-branch environments. Its component-based architecture enables easy integration with external applications, supports multiple delivery channels, and retains the flexibility to add new delivery channels as technology evolves.
QUARTZ makes it possible to automate to a large extent front, back and middle office functions; it may also be implemented as an outsourced solution in small and middle size banks. Large finance service providers may use QUARTZ as a platform for their own future developments or extensions.
Main features of QUARTZ :
The Société Générale Group is one of the largest banks in the Eurozone. The group employs 85,000 people worldwide in three key businesses:
- Retail Banking: Société Générale serves 13.4 million retail customers worldwide.
- Asset Management & Private Banking: Société Générale ranks third in the Eurozone in terms of assets under management (Euro 298 billion in 2001).
- Corporate & Investment Banking: SG is the fourth largest bank in the Eurozone based on net banking income.
Société Générale is the only French bank to be included in the four major socially responsible investment indexes. www.socgen.com