Press Release: Israel's New Equity Services brings MiniFrame, Israel’s Multi User Computing Brand to the Indian market.

Press Release

Israel's New Equity Services brings MiniFrame, Israel’s Multi User Computing Brand to the Indian market. Sign up with SKS Microfinance, the world's largest microfinance company, as the first client for all India implementation.

Tel Aviv, 13 January 2010:  SKS Microfinance, the world’s largest microfinance company has signed up with NewTecSol, the Indian technology subsidiary of Israeli based New Equity Services, to deploy in their branches across India, the SoftXpand multiuser computing solution developed by the Israeli technology company, Miniframe. SoftXpand allows a user to connect up to eight monitors, keyboards and mice to a single computer and enables several users to work simultaneously without any loss of performance. The resulting environment reduces desktop technology cost by over 60 % and contributes to the green environmental program with lower heat emissions and power consumption.

SKS Microfinance has some 5.5 million subscribers / members with USD 2.2 billion already disbursed through 1700 branches with a 99% repayment rate on loans given and are in a market with a demand for USD 60 billion in India alone. They currently train 1000 new loan officers every month on an already existing force of 18000 plus employees & grew its business 170% in the last year alone.

The tie-up is the result of the vision and strategy planning of Mr. Pradeep Kalra, Chief Information Officer at SKS Microfinance. Pradeep says “SoftXpand solution has delivered seamless virtualized computing experience across multiple terminals, ensuring ‘near zero’ performance loss while reducing infrastructure and energy costs.  With our aggressive growth underway, this cutting-edge technology perfectly matches our low cost – high value rural network model, improving productivity and efficiency of the field staff while reducing transaction costs, thus adding value to how we deliver financial solutions to our members.”

NewTecSol has huge plans for SoftXpand in India. “We already have demos and POCs running in several key organizations in India and we hope to see SoftXpand change the face of low cost desktop computing here. Thanks to the foresight and long term vision of the SKS Microfinance team, we have made a solid start and the journey has just begun.” says Sridhar Mudaliar, CEO of NewTecSol.

About SKS MicroFinance

SKS is an Indian non-governmental organization specializing in microfinance. It was founded in 1998 to provide small loans to poor women in rural areas.Innovatively catering to a constant and unmet demand for microfinance,SKS is recognised as one of the most successful microfinance companies in the world aiming to provide financial services to the poor and using their channels to provide goods and services that the poor need.
For more information: www.sksindia.com

About New Equity

New Equity Services is the entity established by Dov Tadmor's, Saridav Investments Ltd. and Jon Boock's, BVC Investment and Services Ltd to promote transactions of Israeli and Israeli related enterprises in growth mode directed towards the Asian and Indian markets in particular and Asian and Indian enterprises seeking investments with Israeli and Israeli related corporations. As part of this process it has established NewTecSol to distribute Israeli software solutions to Indian enterprises.

For more information www.newequity.co.il

About NewTecSol:

NewTecSol is a wholly owned subsidiary of New Equity Services and provides Indian enterprises with powerful software based technologies emanating from Israel and other countries designed to increase their efficiencies and profitability.

For more information www.newtecsol.com

About MiniFrame:

MiniFrame has developed a software suite that delivers software and hardware savings and improves work efficiency. Its flag-ship product, SoftXpand, offers a unique multi-user technology that enables the running of up to 8 independent workstations from a single pc.

For more information www.miniframe.com/