Microsoft Signs Citibank Indian Software Unit Deal

Computergram International, June 8, 1998

Microsoft Corp has formed an alliance with Citibank's Indian software unit Citicorp Information Technology Industries Ltd (CITIL) to market the latter's banking products world-wide. CITIL will use Windows NT and Back Office as its platforms of choice. Microsoft will sell the Indian firm's banking industry products - Microbanker, Fundpower, and Finware - all over the world.

"The alliance will focus primarily on high-performance, cost-effective and easy-to-use solutions that enable customers' mission critical business processes to operate efficiently. The partnership will extend from leveraging technologies to marketing of the products globally taking advantage of Microsoft's global presence," said Sanjay Mirchandani, Microsoft India's managing director.