Rediff News
All News
News APP

NewsApp (Free)

Read news as it happens
Download NewsApp  » Business » MatrixView to offer digital tech for banks

MatrixView to offer digital tech for banks

Source: PTI
February 04, 2005 19:48 IST
Get Rediff News in your Inbox:
Singapore-based MatrixView on Friday said it was in talks with Indian banks and hospitals for the implementation of its patent-pending digital content optimisation and compression technology.

The company, which is listed on the Australian Stock Exchange and has a 50-member R&D wing in Chennai, has already implemented its product 'Adaptive Binary Optimisation' at Puttaparthi and White Field Super Specialty Hospitals free of cost, its executive chairman and managing director Ravindran Govindan said.

"ABO is a core technology ushering in the new era of data management across the world and is set to become pervasive across all sectors," he said.

ABO, for which patent applications are pending, compresses digital data, sound, video and image files in a "mathematically loss less" manner, said Anand Thyagarajan, executive vice-president, MatrixView.

ABO has the ability to scale or increase compression ratios, he said, adding in certain cases, the engineers could compress the image to more than 3,000 times without any data loss.

For Indian banks, the technology could be used to send mortgage files from the original destination to the head offices, Govindan said. This will speed up the processing time considerably.

The financial services sector, including some PSU banks are "very interested" in the product, Govindan added.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2022 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Moneywiz Live!