July 17, 2008

Canara Bank, a large financial conglomerate with $40 billion in deposits based in Pune, India, is about to enter the precious metals market. It sought software to help run the new business across 2,500 branches, and chose Commodity XL for Precious Metals from Triple Point Technology.

The Commodity XL software will help Canara manage inventory, reconciliation, risk and regulatory compliance. According to the vendor, the software handles multiple commodities and provides real-time integration of physical and financial positions as well as risk management.