View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 29, 1997updated 05 Sep 2016 12:27pm

INDRA WINS ARGENTINIAN BANK ELECTRONIC CLEARING SYSTEM DEAL

By CBR Staff Writer

Madrid-based software and systems integration company Indra SA has been awarded a contract to develop and install an electronic clearing system for ABAPPRA, the Argentinian Association of Public and Private Banks. In its first phase, the contract is worth $695,000. Indra will be responsible for consultancy, and the clearing and communications software needed to set up the clearing house for the association, which represents 80 banks. The Spanish company, which won the contract through its Argentinian subsidiary, will provide its own software. Manager of Indra’s International Operations Office, Patricio Romano, told Computerworld Espana that the clearing system will be a big breakthrough in Argentina, where information technology in the banking sector is still at an early stage of development. There is just one non-automated clearing house and documents have to travel up to 4,500 kilometers, leading to high costs and delays. The new project is designed to improve operational facilities such as standing orders, clearance of checks and transfers. Romano believes Latin America will prove to be a key market for Indra, since the financial sector has made a strong commitment to investment over the next few years. The system should be operational by the end of the year. But first Indra will collaborate with the banks on a range of activities, including setting up the working groups for the internal operation of the clearing house and organization of procedures affecting all clearance sub-systems. They will also connect the clearing house with the banks’ data processing centers, including the Central Bank of Argentina, and with the other clearing house, which has 50 member banks. Indra currently supports 80% of all clearance systems in the Spanish market, including the National Electronic Clearance System for the Bank of Spain.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU