Bank to float software subsidiary

City-based Indian Overseas Bank (IOB) plans to float a banking software subsidiary to tap the Asian and African markets, the bank's top official says, according to The Economic Times.

"Our core banking solution was developed in-house. We find there is good scope in the market for our solution. However, we have to get permission from the Reserve Bank of India to get into a non-banking activity," chairman and managing director M. Narendra says.

The decision to float a software subsidiary was taken when another bank approached IOB for the banking software. He said around 16 technology companies had shown interest in partnering with the bank.

Rwandatel subscribers have been saved from making regular visits to Banque Populaire du Rwanda (BPR) branches and can now make money transactions anytime of the day, anywhere with BPR's mobile banking service, states TMCnet.

This comes after the bank, by branch network, signed a partnership deal with Rwandatel to facilitate their customers to access their BPR accounts.

Said to be the first of its kind in the country, BPR's mobile banking service helps customers conduct banking transactions via their mobile phone handsets, once they subscribe to the latest technology.

A Chicago community bank is reaching out to the disabled community by making banking accessible, says ABC7News.

According to the US Census, 25% of people with disabilities require help paying bills and doing banking. But with a unique voice-to-text online banking system they may not need much help.

Bridgeview Bank in Uptown is the first in the US to install a voice-to-text and text-to-voice online banking system.