Indra to modernize the management systems of the Central Bank of Bangladesh for €7m
The technological company progresses in the Asian markets with recently awarded contracts in India.
The project is within the program financed by The World Bank to strengthen the financial entity.
Indra, the premier IT company in Spain and a leading IT multinational in Europe has entered Bangladesh with two contracts to modernise the management of the country's Central Bank for a total amount of 7 million euros. The projects include the implementation of two corporate systems: ERP for resource planning and Datawarehouse to automate and enhance the operational processes of the banking institution. This way, Indra strengthens its presence in Asia, where the company is also developing projects in India, China or Philippines.
These new projects, financed by The World Bank, are part of the transition of the technological systems of the Central Bank of Bangladesh which is within the framework of the “Central Bank Strengthening Project” aiming at improving the efficacy of the country’s financial system.
On one hand, the implementation of ERP will facilitate resource planning in order to improve information management and will automate the bank’s accounting and treasury processes, human resources and currency management. On the other hand, Datawarehouse is a system for storage and data exploitation that will facilitate the analysis and publication of the information regarding the investigation, statistics and currency policy of the bank. This system will allow the senior management of the Central Bank of Bangladesh to optimise the access to the information for the benefit of decision-making.
The contracts also include the supply and implementation of modern computer equipment as well as consultancy, training and maintenance services. Indra will employ SAP and Oracle’s state-of-the-art technology.
The project of The Central Bank of Bangladesh adds up to other projects carried out by the Bank of Spain or The Central Bank of the Philippines and lays the foundation for new opportunities in other financial institutions in the area.
Progress in Asia
With this contract, Indra takes another step forward in its objective of extending its presence in the Asian emerging markets. The company’s recent entry in Bangladesh adds up to its recent contracts in India for the implementation of the validation and access management for the first line of Bombay’s new Metro and the installation of its ticketing and access control system in the future Mumbai Monorail and in Delhi's Airport Express metro line. Currently, the company has subsidiaries in China and in India, and a permanent office in The Philippines.
Regarding China, Indra has accumulated important references. Among the most recent projects we should mention a surveillance and air traffic control system to reinforce the security of Beijing's air space during the 2008 Olympic Games, the supply of the largest training centre of Southeast Asia for Hainan Airlines and the flight simulators for Air China. Indra also developed the access control systems for Shanghai Metro and Tianjin and Binhai Light Railway, the control systems and the equipment of Hong Kong International Airport and other 14 national airports.
In addition to this, among the most recent contracts in Southeast Asia we should highlight two projects with Vietnam Electricity and the agreement with Viet Nam's government to modernise the country’s electricity system. Moreover, the IT company is involved in a project with several countries, financed by the Asian Development Bank, for energy transmission among the largest countries at the south of the Mekong (Cambodia, Laos, Vietnam, China, Myanmar and Thailand) and is also in charge of Meralco’s global technological outsourcing, the largest electricity company of The Philippines. Indra recently finished a project for the Supreme Court of Philippines to modernise justice administration in the country.
Indra is the premier Information Technology company in Spain and a leading IT multinational in Europe and Latin America. It is ranked as the second European company in its sector according to stock market capitalisation, and also the second Spanish company with the most investment in R&D. In 2008, revenues reached € 2,380 M, of which a third came from the international market. The company employs more than 29,000 professionals and has clients in more than 100 countries.