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Maveric signs up 3 big customers

Staff Correspondent

Contract involves functional and performance testing

CHENNAI: Maveric Systems, a software testing company, with a strong focus on the banking, financial services and insurance (BFSI) vertical, has signed up three significant customers in India, GE Capital International Services (GECIS), State Bank of India (SBI) and Indian Bank.

The initial contract value for Indian Bank is Rs. 85 lakh. GECIS and SBI are outsourcing a string of engagements to Maveric that are expected to bring in revenues in excess of Rs. 1 crore this year, according to Ranga Reddy, CEO, Maveric Systems.

Mr. Reddy said the company would complete the system testing, user acceptance testing, usability testing and performance testing for Indian Bank. For GECIS, Maveric would set up a 40-member office in Hyderabad. The contract involves functional and performance testing.

For State Bank of India, Maveric would be executing a series of engagements in the core banking, trade finance and treasury related areas.

Arun Jain, Chairman and Managing Director of Polaris Software Lab, holds 33 per cent stake in Maveric Systems in his individual capacity while Mr. Ranga Reddy and four others are the other promoters.

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