With the fast growth of the industry, HDFC is expanding its business in to Finance Leasing business sector in line with their business strategy. HDFC has selected the SkyBank of OpenArc as the preferred software solution to support its Finance Leasing business after a comprehensive evaluation of available products through a standard RPF tender.
OpenArc Systems is a well known application software and service provider in Sri Lanka in the Leasing, Merchant Banking & Finance markets holding close to 75% market share in Sri Lanka. This is also partly a result of its human resource pool that has been built up by OpenArc through its own IT Education arm; OpenArc School of Business & Technology.
“As a part of our diversification programme, Finance Leases is a priority area. HDFC Bank has already obtained approval from the Central Bank of Sri Lanka to carry out finance lease and we are in the process of finalizing all arrangements to commence this product in September 2013. We consider the tie-up with OpenArc SkyBank Solution is unique as they are the pioneers in the market with application solution and service provider and we are confident that we could maintain a strong partnership in the long term” says Mr. Nimal Mamaduwa, General Manager/ CEO of HDFC Bank.
OpenArc Systems CEO, Mr. Daya Hettiarachchi expressed his views saying “with the experience in the software industry for over two decades, 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 specializes in business software for Merchant Banking & Finance, Stock markets, Manufacturing & Trading sectors and develops totally integrated Sri Lankan software solutions on current technology platforms such as Java, .Net, Progress, and Open Source.”
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