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Canara Bank To Enter Precious Metals Market Using Triple Point Software

India's largest nationalized bank is setting up a precious metals trading operation across 2,500 branches.

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.

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