The company's managing director Nagendra Venkaswamy told The Financial Express that the open banking solutions would run on all types of back-end software. Currently, the company was in talks with a large number of banks in the country including Union Bank, he said.

He said the company would be mainly concentrating on three areas including retail, trade finance and forex dealing room applications. It would soon Web-enable its trade finance application software -- PSI-TF --, demat and clearing custody application software (CCS) and Electronic Security Service (ESS). The company has recently entered into a business and technical alliance with Business Oriented Systems Support (BOSS) of UK to develop banking and financial solutions. Under the agreement, PSI Data Systems would work as an off-shore development centre for BOSS.

The company would also function as an off-shore development partner for another UK-based firm e-People.com that sells computer-based finance training CD ROMs. ``We will take the company on web, take care courseware management, student registration, learning and payment systems,'' Venkaswamy said.

PSI Data Systems along with Bull of UK had recently bagged a $1 million work contract Mortgage Security firm to develop mortgage security application and client relationship applications. The company also has entered into a tie-up with UK-based Advisor Technology to develop an electronic burgler alarm --Security advisor.

Last year, PSI Data Systems had posted a global turnover of Rs 61 crore of which 25 per cent was contributed by India, 35 per cent from the US while 40 per cent waa from Europe.

The company also was in talks with a leading ISP to manage its ISP network and provide technology back up, he said. It also has plans to get into the design of telecom switches -- that manages all the devices on a telecom network. ``We are in talks with a large number of cellular operators,'' Venkaswamy said. The company has plans to increase its stake in Accelerex which is owned by the UK-based Priceton Consultants. Accelerex is a net-based help desk solution provider. Currently, PSI Data Systems holds 20 per cent equity stake in the latter. ``We have an option to increase the stake and currently we are considering the viabilities,'' Venkaswamy said.