OpenArc automates Ideal Finance

Monday, 20 August 2012 00:02 - - {{hitsCtrl.values.hits}}

Ideal Finance Ltd., the newest member of Ideal Group, signed a contract with OpenArc Systems Management to automate their financial applications with InBank 2012, which is an integrated total solution for financial institutes.

With adverse product range on offer, OpenArc contracted to deploy leasing, hire purchase, loans, pawning, fixed deposits, savings and general ledger modules of ‘InBank 2012’.

Ideal Finance is a registered finance company under the Finance Business Act. No 42 of 2011, which commenced operations in March 2012.

OpenArc Systems is the No. 1 application software and service provider in Sri Lanka in the leasing, merchant banking and finance markets and OpenArc holds 75% market share in Sri Lanka. OpenArc is determined to provide the best support services to its clientele with its lifetime guarantee. This has been possible with its very strong human resource pool that has been built up by OpenArc through its own IT education arm, OpenArc School of Business & Technology.

OpenArc Systems CEO Daya Hettiarachchi said: “With over two decades of experience in the software industry, primarily as a successful product-based company, OpenArc has captured the market leadership in Sri Lanka for their products in many sectors and earned a reputation as a long-term quality IT service provider. OpenArc specialises in business software for merchant banking and finance, stock markets, manufacturing and trading sectors and develops totally integrated Sri Lankan software solutions on current technology platforms such as Java, .Net, Progress, and Open Source.”

InBank 2012 is the newest release of its flagship product InBank which has been in the market place over last 15 years and all long-standing existing clients of InBank who have been using InBank previous versions for more than a decade are now offered with a very cost effective upgrade path through InBank 2012. It has incorporated many advanced features and improved processes to provide the best solution available in the market place.

OpenArc is an ISO 9001:2000 quality certified and CMMI Level 3 Assessed software company with a professional team qualified in multidisciplinary industrial sectors such as engineering, IT, accountancy and management.