📋 Tender Overview
Syncordis PSF S.A. a leading Temenos banking software specialist and a subsidiary of Larsen Toubro Infotech Ltd. LTI has been granted Support Professional of the Financial Sector Support PSF Art 29-3 OSIP license by Luxembourg Ministry of Finance. A Professional of the Financial Sector PSF is an entity that is authorized to perform financial sector activities as a regular occupation in accordance with article 13 of the law. The license strengthens Syncordis position as a Temenos Global Services Partner and is valid for an unlimited duration.The PSF status serves as a guarantee for clients as every PSF Support company must comply with regulatory requirements be financially stable and implement a highest level of quality in terms of organization infrastructure security and internal controls.Stphane Fisch Managing Director and Head of Managed Services Syncordis PSF S.A. said We have provided onsite production services since 2008 but the growing demand for outsourced production support services and SaaS solutions for Temenos clients called for this strategic move. Syncordis PSF will provide end-to-end managed services to its clients with the highest standards of security governance processes and tools. Obtaining the Support PSF license marks a major milestone for Syncordis and will give us a competitive edge to add unprecedented value to digital transformation journeys of our clients.Sudhir Chaturvedi President Executive Board Member LTI said I congratulate Syncordis on this remarkable accomplishment. Syncordis PSF now has full rights to operate primary information systems in the banking sector and can take full responsibility to operate financial institutions production environment. This setup enables Syncordis clients to fully focus on their core business without worrying about technology and enjoy multiple additional benefits such as locally hosted SaaS solutions increased transparency and security as well as appropriate management of direct and indirect risks.Luxembourgian companies that apply for a PSF license must undergo a lengthy application process with the CSSF. Syncordis started the process in 2018 and submitted 1.500 pages worth of documents over the course of the past two years to comply with and meet all CSSF requirements. Licensed companies are audited yearly and must report to the CSSF on a monthly basis.
