February 27, 2013
Nirmal Bang Securities Selects Apex Softcell Software to Drive Business Expansion
By Calvin Azuri
Apex (News - Alert) Softcell recently announced that its Lidha Didha Enterprise Edition Suite will drive business expansion for Nirmal Bang Securities Pvt. Ltd. Leveraging the Lidha Didha Enterprise Edition Suite, Nirmal Bang will open unlimited branches without incurring any additional costs. Funds of the company will now be utilized for expanding the business.
Nirmal Bang, which was established in 1986 by Shri Nirmal Bang, at present is one of the largest retail broking houses in India, while Apex Softcell is a specialist provider of front office / mid office / back office, trading & match engines for exchange and an RMS platform for brokers.
In a statement, Mr. Rakesh Bhandari, senior VP - Nirmal Bang Securities Pvt Ltd., said that, "The biggest challenge which we were facing was updating to other back office software from Lidha Didha by way of batch files. Since Apex had all the products which cater to the need of a broking house, we thought it would be a viable option to deal with a single vendor.”
All branches of Nirmal Bang that use broking, depository back-office, live risk management system & franchisee management software will now be enabled with a one login with the Lidha Didha Enterprise Edition Suite from Apex Software.
Mr. Bhavesh Desai, MD Apex Softcell (India) Pvt Ltd., said that, "A broker spends several man hours integrating file formats with backoffice software such as risk software. This enterprise solution will eliminate manual processes of data transfer, thereby ruling out the possibility of human error. This will also prove to be a cost saving solution in the long run.”
For the clients of Nirmal Bang, this spells numerous benefits by way of client level software, Interactive Voice Response (IVR), live risk reports & mobile back-office, all in a live environment. By delivering these advantages, Nirmal Bang will benefit from a competitive edge over other brokerage houses.
Apex Softcell (India) Pvt Ltd has been providing broking back-office software solutions for sub brokers in India since 1992.
Edited by Brooke Neuman