The research & development wing of Wilco International Systems of Hyderabad, a subsidiary of the $7 billion Automatic Data Processing Inc of the US, has recently developed a new software product called UPM, for use in the investment-banking segment.

Speaking to Express Computer, Donal O’Brien, technical director of Wilco International and co-chief technology officer of Automatic Data Processing Inc of the US said, “The product has been prepared on the highly scalable framework using J2EE applications. The product is basically useful for large financial organisations dealing in investment banking. The final release of the product is scheduled for December 2003. However, we already have one client successfully using it.”

Meanwhile, Wilco Interna-tional is in the process of ramping up its BPO operations in Hyderabad. The company will be increasing its BPO workforce from the current 40 to 100 this year, according to O’Brien.

A UK-based financial service transaction processing systems and enterprise application integration provider, Wilco has a development centre in Hyderabad, which is headed by managing director, Shakti Sagar.

O’Brien said the Hyderabad centre, which has 330 employees, was playing a key role in the development of Wilco’s products for the financial services segment. Wilco’s dedicated securities data management group is also based in Hyderabad.