PORT ORANGE, Fla., Nov. 24, 2014 /PRNewswire/ -- Thinspace
Technology Inc. (OTCQB: THNS); (Thinspace or the "Company"), a
global provider of reliable, scalable and affordable application
delivery, virtualization, and cloud client technology to public and
private sector companies and organizations of all sizes, today
announced that in April 2014,
India's The Shamrao Vitthal
Cooperative Bank Ltd. ("SVC Bank") purchased, and over the
past six months, implemented 1,000 Thinspace TSE licenses to
deliver their core-banking software application to branches and
customers across the country.
With a pan-India presence
comprising 158 branches spread across all major cities and towns in
the country, SVC Bank is a pioneer in the co-operative banking
sector with roots going back to 1906. It is also the first
bank in the country to develop Banking Software that provides a
Single Window Core Banking Solution – aptly branded as 'Genius'.
Over the years, SVC Bank has successfully inter-connected all of
its branches and ATMs, and joined the NFS Network to provide its
customers with convenient access to a network of more than 110,000
ATMs throughout India. Today, SVC
Bank remains the ONLY Co-op Bank providing RTGS and NEFT services
to its customers on a STP (Straight through Processing)
mode.
SVC Bank selected Thinspace TSE for its implementations because
of its easy deployment, local, high quality support, web based
management and Opex-model pricing. For customers like SVC, TSE
makes scalability easy and affordable, and avoids high upgrade
costs, lack of support and real-time support associated with the
competition.
"Thinspace has successfully provided the end-to-end secure and
easy access solutions which is aptly suited to SVC Bank's
environment, addressing all micro and macro requirements. Moreover,
it comes with the best in high standard, quality support that
understands SVC's business and growth needs. Thinspace is uniquely
placed to addressing all concerns for SVC and creates a highly
desirable win-win situation for both companies," Mohan Bhat, Director Propalms Technologies Pvt.
Ltd.
Thinspace Technology Chief Executive Officer, Chris Bautista, commented, "We strive to provide
the best desktop experience for the end-user, simple and easy
management for the IT team, and a complete yet affordable solution
for the CIO. SVC Bank sees the value in our solution. We are
pleased to provide them with our easy, affordable desktop
virtualization platform and look forward to continuing to service
them and their growing customer base in the time ahead."
Encouraged by the success of the implementation in all the
branches of the bank and the automated MIS generated by the
software, The Reserve Bank of India granted SVC Bank special permission
in 2006 to share their technological skills with - and offer
Genius software to - fellow Co-operative Banks. Thus far, Genius
has been successfully implemented and is now running in several
Co-operative Banks in various parts of the country.
SVC Bank has won several awards for its Technology
Implementations from reputed institutions like The IBA, Banking
Frontiers, DataQuest, PC Quest, CTO Forum, CIO and many more. For
more information on SVC Bank's technology please visit
http://www.svcbank.com/Technology.aspx
Thinspace Technology operates in high growth B2B markets of
application delivery, virtualization and cloud client technology
that make it easier, more flexible and more affordable for
companies and IT Managers to conduct and streamline computing
operations securely from any server - anywhere in the world.
IDC predicts that 2014 is the year where desktop virtualization is
going to become main stream given its advantages currently in
demand: low cost, flexibility, secure and green. According to
Gartner research, the global desk top virtualization market is
expected to surpass $65 billion in 2015.
About Thinspace Technology Inc.
Thinspace Technology Inc. is a global provider of reliable,
scalable and affordable application delivery, virtualization, and
cloud client technology to public and private sector companies and
organizations of all sizes. Operating on the belief that
application delivery and cloud computing solutions should be
flexible, dynamic and above all, simple to use, Thinspace
understands and is passionate about solving customer problems
affordably in the most efficient and effective manner possible. The
Company's list of private and public sector customers include NASA,
PWC, Deutsche Bank, Toyota, as well as, NHS, local councils,
universities, schools, and housing associations. With over 5,000
enterprise customers worldwide, Thinspace is recognized as a
leading player in application delivery, virtualization, and cloud
technology markets. The Company is headquartered in Port Orange, Florida with international
offices in U.K., Canada, and
India. For more information on the
Company, please visit www.thinspace.com.
Forward-Looking Statements:
This press release includes forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, and also includes
selected operating results presented without the context of
accompanying financial results. These forward-looking statements
include, among others, statements with respect to our objectives
and strategies to achieve those objectives, as well as statements
with respect to our beliefs, plans, expectations, anticipations,
estimates or intentions. These forward-looking statements are based
on our current expectations. We caution that all forward-looking
information is inherently uncertain and actual results may differ
materially from the assumptions, estimates or expectations
reflected or contained in the forward-looking information, and that
actual future performance will be affected by a number of factors,
including economic conditions, technological change, regulatory
change and competitive factors, many of which are beyond our
control. Therefore, future events and results may vary
significantly from what we currently foresee. We are under no
obligation (and we expressly disclaim any such obligation) to
update or alter the forward-looking statements whether as a result
of new information, future events or otherwise.
The Company is subject to the risks and uncertainties
described in its filings with the Securities and Exchange
Commission, including the section entitled "Risk Factors" in its
Annual Report on Form 10-K for the year ended December 31, 2013.
Investor Relations
Email: lauren@choosewindmill.com
Phone: 855-371-3936
SOURCE Thinspace Technology Inc.