Logica builds up retail banking strength with Quaestor

Logica has added to its retail banking products with the acquisition of Synectics' Quaestor software for £8m. Logica plans to offer the electronic product suite worldwide, and has already implemented it in several countries as a result of a reseller agreement with Synectics.

A spokesman for Logica said: "We have a threefold acquisition strategy - one of those is to buy software that strengthens our position in vertical markets. Quaestor increases our position in the retail banking sector."

He added: "Quaestor can be customised, so the kernal can be used all over the world, but each bank will be able to adapt it to its own system."

The NT-based product suite enables counter staff to conduct retail banking transactions, as well as providing a platform for additional delivery channels such as Internet and telephone banking.

Michael Owen, analyst at Datamonitor, said: "Logica has always been very strong in back office processor solutions, especially for banking in the UK. But for a long time it has been trying to get into the customer facing side of the business."

Logica will take on a team of 75 Synectics development engineers in Bangalore, India, to develop the product.