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BANCAL, launched in 1988, was essentially a ‘Banking Calculator’ and also referred to as such. It had a microchip at its heart and was an efficient device to aid and streamline back-office automation for the banking processes.
With the launch of BANCAL, HKIL entered into the development of automation in banking sector of India. This ushered the company into a new era of growth in the Indian Banking sector. The product was the first and only one of its kind and made entry into the banking industry at a time when the concept of organized computing was yet to come.
This enabled the banks to significantly improve their efficiency levels by automating functions like interest calculations, ledger postings, report generation, etc.
BANCAL was truly ahead of its times as no significant automation initiatives were there for the Banking Industry till then. As a result, it was commissioned by almost all the reputed banking establishments in the country. It was a huge success and sold 1,00,000 units till the advent of the new generation personal computers.
Banksoft was the first software solution developed as a product by HK Infoware in 1995 for the banking sector. This product provided integrated online and real time processing of data which helped the banks to significantly improve the speed and quality of their customer services.
This server independent software was highly secure and could be configured with most database servers and operating system platforms of that time, making it very flexible and convenient for operation. Moreover, it provided a total branch automation (TBA) solution to the banks which benefitted them immensely in their back-office processes and in their customer relationship. This opened a new realm of banking experience for the bank staff as well as the customers.
Banksoft had a very successful track record in various Nationalized Banks, Gramin Banks (RRBs), Co-operative Banks and Credit Societies across the country. It entered the Indian market at a time when the banking sector was ushering into a new world of competition, total automation, security of data, fast and efficient customer service and expansion of branch network.
With the technical skill and industry experience of a highly efficient team at one hand and strategic alliances with other solution providers at the other, HKIL has commissioned many turnkey projects in Banking Automation successfully, like:
Banksoft achieved about 4000 installations across the length and breadth of the country, and was able to build up a loyal customer base in banking sector till 2007 when the Core Banking concept came into being.
