UCO BANK SELECTS XCHANGING TO IMPLEMENT DISASTER RECOVERY SOLUTION

UCO BANK SELECTS XCHANGING TO IMPLEMENT DISASTER RECOVERY SOLUTION

To become the first Indian bank to implement EastNets' empowerment product

MUMBAI, 1 June 2010 - Xchanging /quotes/comstock/23s!e:xch (UK:XCH 178.90, -1.80, -0.10%) , a large, fast growing global business processor, announced today that it has extended its relationship with UCO Bank, a leading Indian bank, to implement mission critical disaster recovery solution for its most business critical financial telecommunication infrastructure.

Xchanging will enable UCO Bank to seamlessly integrate near real-time databases, payments, and transactions over its SWIFT payment gateway with the bank's existing disaster recovery infrastructure. Xchanging EastNets' implementation compliance and payment solution conforms to international banking benchmarks. The solution will provide a secure environment for efficient duplication detection, and recoverability of high volume messaging traffic. The scope of the implementation also includes back-up of foreign exchange payments and telecommunications platform.

A leading commercial bank and Government of India undertaking, UCO Bank has an extensive network of over 2,000 service outlets and 35 regional offices across India. With additional offices in Hong Kong, Singapore, Malaysia and China, UCO Bank conducts extensive foreign exchange business in more than 60 centres across India. Xchanging's comprehensive disaster recovery solution will address the data recovery needs of the bank's operations.

David Andrews, CEO Xchanging said, "We are delighted to be the provider of choice for UCO bank and to be the first to introduce the EastNets solution to the Indian banking market. IT is playing an increasingly important role in business processing across industry sectors. As a technology powered business processor, our vision is to now bring the power of collaborative technologies such as cloud computing to our customers' business processing needs. With our extensive Intellectual Property, we have already set the foundations to be ahead of the market in providing our customers the benefits of new generation technologies".

Nimish Soni, Managing Director, Xchanging India added, "Xchanging has been supporting UCO Bank since 2004 as a SWIFT Partner. Xchanging's mission critical solution will allow UCO Bank to streamline its back-up and recovery practices and derive increased operational efficiencies. In the event of any hardware failure, human error, file system corruption or disaster, our solution will help the bank to restart operations without any delay in switching to the back-up system". He further added, "We are seeing a growing number of banks adopt an increasingly focused approach towards disaster recovery management planning. This is spurred by an increased regulatory thrust by the Reserve Bank of India (RBI). UCO Bank when looking for a strategic partner to augment its disaster recovery planning selected Xchanging after a careful assessment of the depth of our experience".

Xchanging designs, builds and runs a range of technology solutions for business processing. The company embeds its Intellectual Property (IP) to create a solution faster and more cost effectively than customers can themselves. These technology services are aimed at organisations that wish to use IT services to improve organisational effectiveness and profitability.

Xchanging's capabilities in the banking and securities industries include retail investment account management and securities processing services. By the end of 2010, it will be the largest independent investment account processor in Germany, and is expected to administer approximately 1.5 million accounts for its Enterprise Partnership (EP) Allianz Global Investors and other customers such as SEB Bank and MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH (MEAG).