Murthy Veeraghanta, Chairman and Managing Director of VSoft Technologies has been awarded the Business Leadership Award for Industrial Development by Indian Economic Development and Research Association (IEDRA).

Hyderabad, Andhra Pradesh, India, March 2, 2010 / IndiaPRLine / — VSoft Technologies, a global information and technology provider of process improvement solutions for financial institutions, announced today that Murthy Veeraghanta, its Chairman and Managing Director, has been awarded the Business Leadership Award for Industrial Development by Indian Economic Development and Research Association (IEDRA).

Presenting the prestigious award to Mr. Veeraghanta was Joginder Singh, former director, Central Bureau of Investigation, Mr. Krishnamoorty, former election commissioner, and O.P Verma, former justice, Supreme Court of India.

Mr. Veeraghanta noted at the ceremony, “We are honored and extremely delighted to receive this award. VSoft actively listens to our customers, hires the best people and empowers them to do their best. These simple principles have enabled us to build innovative solutions that improve service, reduce cost and maximize efficiency for our customers. That’s the foundation of our success.”

The award recognizes Mr. Veeraghanta’s strategic vision and exceptional leadership in steering VSoft to become a provider of world-class financial solutions. VSoft was established in1996, as a Corporation with its headquarters in Atlanta, GA. Mr. Veeraghanta returned to India in 2008 to explore expansion opportunities in the Indian market and guide the Indian arm of the company, which was founded in 2004.

Today, nearly 2000 financial institutions across the globe use VSoft’s portfolio of over 20 products that straddle the image-enabled payment processing and core banking domains. Citibank, Members United, Southeast Corporate, Philippines Clearing House and Union Bank of India are counted amongst VSoft’s customers.

Editor Notes

About IEDRA

IEDRA was formed for the economic and social development of individuals and organizations. IEDRA is operating on national and international levels with the object of promoting economic welfare of all nations. The primary objective of IEDRA is to provide and arrange facilities for intensive and extensive studies for future development of organization. For more information, visit www.iedra.org

About the Award

The IEDRA confers annual awards to honor individuals, organizations and institutions for outstanding contributions and achievements in their respective field. These include economic development in industry, finance and business. Awards are also given in the fields of education, health, medical treatment and hospitals, hotels and tourism, journalism, astrology and jyotish science, co- operatives and other fields.

About Murthy Veeraghanta

Murthy Veeraghanta is chairman and managing director of VSoft Technologies. He co-founded VSoft in 1996 and has grown the company from inception to a global company. Mr. Veeraghanta also co-founded Vector Consulting, a software services firm providing payment systems consulting and project management to banks and service bureaus. His early work experience was with Unisys Corporation as part of a select national team that customized, installed and supported transaction processing systems for large North American commercial banks such as Citigroup and JP Morgan Chase. Mr. Veeraghanta has a master’s in chemical engineering from the Indian Institute of Technology.

About VSoft Technologies

Established in 1996, VSoft Technologies is a global provider of financial technology solutions that improve service, reduce cost and maximize efficiency. Its broad image-based solutions include distributed deposit and payment capture across all points of presentment, back office check processing, image exchange, document management, and remittance and lockbox operations. Customers include banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations.

VSoft’s proven products and services ensure versatile and rapid delivery of solutions to mission-critical needs. Included in the Inc. 5000 list in 2007, 2008 and 2009 and listed in Software Magazine’s Software 500 in 2008 and 2009. VSoft’s solutions are used by more than 1,900 financial institutions worldwide. For more information call (770) 225-7692 or visit www.vsoftcorp.com.

Editor Note: The correct usage of the company name, VSoft Technologies, is either referring to it as VSoft Technologies or VSoft, with both the “V” and the “T” capitalised.