Deal on banking software

Deal on banking software

JAKARTA (JP): PT Multipolar Corporation, a subsidiary of the
Lippo Group, has acquired country license rights of software for
retail banking from Bank Vision Software Ltd. of the United
States under an agreement signed here yesterday.

Multipolar's president, Winardi Setiaputra, told reporters
after signing the agreement that the software uses an IBM
midrange AS/400 computer to provide a fully integrated banking
system that manages banking customers, deposit accounts,
investment accounts and loans.

The software is used in 23 countries and supports multilingual
and multi-currency use.

Winardi said Multipolar purchased the license for US$1 million
to sell the product in Indonesia for 99 years.

"I think a break-even point will be reached after we get five
or six customers," Winardi said.

Multipolar has been for three years a software distributor of
Bank Vision, a wholly-owned subsidiary of Jack Henry & Associates
that specializes in international retail banking software.

Winardi said more than 200 banks in Indonesia, with total
assets of around US$64 million, need world class software and
technology to enable them to compete effectively and efficiently
with other regional and international banks.

He said Multipolar eventually plans to leave its local retail
banking system software, called AMBS (Arto Moro Banking System).
(yns)