Banco Penta implements Tata's Quartz software

Banco Penta implements Tata's Quartz software

Chile-based financial services group Banco Penta has deployed Tata Consultancy Services' (TCS) Quartz software to support its banking, brokerage and mutual funds operations.

The bank initially licensed the Quartz system in August 2003 and went live with system a year later.

TCs says the application has been customised to local requirements - the application has been translated into Spanish and the Chilean banking regulatory authority has conducted an audit of the system.

The system also features interfaces to regulatory reporting applications, a central securities depository, a wealth management component and local exchanges for market data and executions.

The vendor has also announced it is teaming up with US-based C-Sam to develop mobile banking applications.

The integrated banking system will incorporate C-Sam's Secure Wireless Application Platform (Swap), which features e-wallet applications. Sam Pitroda, founder and chairman of C-Sam, says: "The C-SAM patented payment platform represents a golden opportunity for retail banks to capitalise on the exploding mobile economy."

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