CacheMatrix Holdings today announced the creation of CacheMatrix India, a wholly-owned and fully-integrated subsidiary based in Bangalore, India. CacheMatrix India serves as a virtual extension of the company’s core technology facility based in Denver. The Bangalore facility brings development capacity and expertise for the company’s unique money fund portal technology that is being incorporated into a growing roster of multinational banks. Unlike typical outsourcing models in which companies transfer management control of a business function to an outside supplier.

    CacheMatrix Founder and CEO George Hagerman, stated: “We have taken a different approach to doing business in India, and we believe it will pay dividends for us as we expand our service offerings globally. Our Bangalore facility is fully integrated into our U.S. operations and our India presence is a lasting extension of our core company.”

    Banks benefit from the CacheMatrix portal’s streamlined integration into legacy systems and its lower development and deployment costs as compared to traditional software products. For corporate treasurers and other institutional banking clients, money fund portals offer access to a wide range of money funds and a streamlined research and trading platform from which to manage money fund assets.

    In the first five months of 2007, CacheMatrix has more than doubled its client base – which includes a few of the largest banks and financial institutions in the world, as well as leading hedge fund administrators, custodians and mutual fund companies – and has seen a doubling of institutional money fund assets that are traded through financial institutions that use the CacheMatrix portal technology.

    The Bangalore facility is headed by an Indian national who lived in Denver and was one of the original team members who wrote the CacheMatrix software code. He returned to Bangalore in 2006 to establish the CacheMatrix subsidiary in India.

    Hagerman added: “We were able to expand to India while maintaining seamless continuity with one of our key programmers. We have been able to bridge the cultural divide with a team that is intimately familiar with our product. We feel fortunate to have such a talented team working for us in Bangalore. CacheMatrix is growing rapidly, as our money fund portal technology is being integrated into leading banks and other financial institutions. We are building a team that is globally capable and has the experience and expertise to provide exceptional service to our roster of multinational banks and financial institutions.”

For more informations visit www.cachematrix.com.