Banking software firm touts for $2m

Auckland-based financial software company Systems Support Group plans to raise $2 million from capital markets to sell its products worldwide, including a new internet banking module.

Auckland-based financial software company Systems Support Group plans to raise $2 million from capital markets to sell its products worldwide, including a new internet banking module.

The module, under beta testing by two financial institutions, is aimed at medium-sized and larger finance firms, and is due for release early next year.

SSG, which has 34 staff at its Newmarket office, developed the Sovereign finance software. The company expects a record $4 million turnover in 2000.

The 14-year-old company developed Sovereign in 1992; it has recently released version six, with internet capability.

Managing director Barrie Shannon says work on developing the internet banking module started 18 months ago; it will allow online creation of accounts, supply of account details, bill payment, viewing of balances, transfer of funds, and provide breakdowns of interest payments.

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