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SBI selects Financial Software & Systems

CHENNAI: State Bank of India has chosen the Chennai-based Financial Software & Systems (FSS) as its switching service provider for its ATM sharing network. SBI's inter-bank transactions would be switched via `FSSNet' the FSS-ASP switch based in Tidel Park, Chennai. The Managing Director of FSS, V. Nagaraj Mylanda, said the switch was based on the Tandem/BASE24 technology, which was the backbone for the individual ATM networks of SBI, HDFC Bank and UTI Bank. The bank would be collecting interbank charges of Rs. 18-20 per transaction.

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