SAN FRANCISCO, September 18 /PRNewswire/ --

- Leading Indian bank is live with latest version of BankServ's 
TurboSwift

BankServ (http://www.bankserv.com), worldwide experts in electronic
payments, announced today that Union Bank of India, the leading public sector
Indian bank, has successfully completed a major SWIFT infrastructure upgrade
to meet SWIFT's deadline for SWIFTNet Phase 2 readiness. The bank went live
on the latest version of BankServ's TurboSwift and TurboRMA solutions to
manage all domestic and international payments in time for the mandatory
SWIFTNet C1 country deadline.

Union Bank of India is firmly committed to consolidating and maintaining
its position as a leading, innovative commercial Bank, with a proactive
approach to the changing needs of the market. The bank uses the proven,
secure SWIFT network for transmitting domestic and international payment
messages. However, as part of the SWIFTNet Phase 2 infrastructure upgrade,
there was a requirement to update the bank's existing TurboSwift
installation.

Union Bank of India recognised that BankServ was the right company to
help with the SWIFT infrastructure upgrade to SWIFTNet release 6 and the
installation of the Hardware Security Module. The bank has a large number of
users and high message volumes but the superior functionality of TurboSwift
enables the bank to manage on-going messaging needs more easily in an
automated environment, thus benefiting from reduced transaction processing
costs.

"The Indian banking sector is undergoing significant growth and many
banks are struggling to keep pace. Meeting SWIFT's mandatory deadlines for
SWIFTNet Phase 2 posed a major challenge, however, it is an area that
BankServ has a great deal of experience in. Using TurboSwift, Union Bank of
India will benefit from increased STP and reduced costs. We will also be
helping the bank with the remainder of the SWIFTNet Phase 2 upgrades,
including the C2 deadlines," said Mary Ellen Putnam, Vice President of
International Business, BankServ.

The SWIFTNet Phase 2 upgrade was completed by Synergy Login Systems,
BankServ's distribution and support partner in India. Bikram Dasgupta,
Chairman, Globsyn Group, which last year acquired Synergy Login Systems and
has significantly revived its growth, commented, "We are pleased to have
worked with Union Bank of India on this strategically important project.
There is clear requirement in the Indian market for effective SWIFT and
messaging solutions and BankServ's products are a perfect fit to solve this
need. Additionally, the partnership with BankServ is working really well. We
have a very good working relationship with the BankServ team and look forward
to working together on further projects."

About BankServ

Since 1996, BankServ has been developing and delivering electronic
payments technology for financial institutions across the globe, including
systems for Fedwire, SWIFT, online payments and Check 21. More information
about privately held BankServ can be found at http://www.bankserv.com.

About Globsyn

Incepted in 1997, Globsyn has a multi-locational operational base
covering India, Sri Lanka, the Middle East and Far East, Africa and the
United States. Headquarted in Kolkata, and with a marketing office in Mumbai,
the financial capital of India, Globsyn has two Centres for Software
Excellence in Chennai and Kolkata. Globsyn specialises in a wide gamut of
technology driven products and solutions, and services a global footprint of
customers ranging from Fortune 500 companies to SMB organisations across
multiple domains. To know more about Globsyn visit http://www.globsyn.com.

Web site: http://www.bankserv.com
              http://www.globsyn.com