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Mumbai: CMC
Ltd, plans to expand its banking, financial
services and insurance solutions business
to the Middle-East, Africa and South East
Asian regions. R Ramanan, managing director
and CEO, said on Wednesday. Out of the
company's total revenue of Rs. 782 crore,
about 55 per cent is contributed by the
banking, financial services and insurance
business. The Tata group company, which
is based in Hyderabad, provides core banking
solutions to banks, insurance companies
and other financial institutions. The
company also plans to provide a software
to link the ATM (automated teller machines)
networks and the core banking facilities
of United Western Bank. It has provided
core banking solutions to 165 branches
of the bank. CMC's clientele includes
BSE, Bank of India, New India Assurance,
United Insurance, National Insurance and
Central Depository Services.
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