Midas Kapiti software

Midas Kapiti software

JAKARTA (JP): Computer software producer PT Midas Kapiti
International has said the Indonesian market for banking software
remains promising despite the country's ailing banking industry.

Company president K.K. Grover said on Monday that local banks
which would manage to weather the current crisis would be forced
to modernize their technology to compete with multinational banks
in the country's liberalized market in the future.

He said the company has increased its manpower to 18 people
this year from two people last year to anticipate the future
growth of demand for its software products from local banks.

The company sells banking software which integrates banking
database and enable banks to quickly access them. The software
costs between US$150,000 and $1 million.

The company has installed its software in 13 banks, including
local, joint venture and foreign banks, and targets to get two
new customers this year.

Midas Kapiti, which started operations in Indonesia last year,
is a subsidiary of Britain's Midas Kapiti International. (jsk)