CorrTec Private Limited is a branch office and off shore Development Center of CorrTec, LLC, located in the United States of America. CorrTec is an international computer software company providing specialized banking (Risk and Income Management, Export Bills Payment Collection, Reimbursement of claims under a letter of credit, and Nostro Reconciliation) solutions for major international banks.
Since its inception in 1999, CorrTec has used its best practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions to the international banks. Headquartered in New Jersey, USA, CorrTec's operations center is based in Karachi- Pakistan, and Sales and Marketing offices are in Pakistan, Thailand & in United States. In Karachi alone CorrTec employs 30+ people.
CorrTec's clients include the banking giants RBS NV, RBS Plc., NatWest Bank & Rabobank International.
Our experience, product development expertise, technical skills pool, and proven methodology has enabled us to provide our clients with high quality, reliable and cost effective product development services including:
Project Management
Product Prototyping
Product Design & Development
Product Testing and Quality Assurance
Product Maintenance/Enhancements & Support
Product Re-engineering
Our well reputed client banks have used and / or are currently using the following product offerings:

Risk and Income Management system:
This application enables the bank to monitor and manage its risk being taken on the counter party / Financial Institutions and Countries, and to maximize their profitability and minimize their by mitigating / selling the risk in the secondary market.

Export Bills Payment Collection System:
This application enables the bank to offer their services to other financial institutes for the collection of export bills proceeds. With this application the customer banks can lodge their Claims under an LC online and collect the proceeds in shorter time frame.

Payment of Claims under a LC System:
This application permits the bank to honor and pay the Export Bills Reimbursement claims to a third bank who negotiated the export bills under the letter of credit (LC) of the customer bank, by ensuring that claims are within the validity and balance amount of LC.

Nostro Reconciliation System:
The Nostro Reconciliation application helps the bank to efficiently and effectively reconcile their Nostro accounts activity.

Management Team:
CorrTec consists of highly qualified and experienced software engineers, SQA engineers, business analysts, and executives working in an open environment that gives them the ability to think creatively and work together on the most challenging projects. We possess a unique product development expertise that has enabled us to build solutions that users can easily use, adopt, and adapt to.
Our management team comprises of industry experienced entrepreneurs who have extensive experience in their respective functional domains and have been closely associated with developing bank solutions for a number of years.

CEO
Mr. Nisar Ahmed is the founder member and CEO of CorrTec Private Limited. Mr. Ahmed started his professional career as a banker and after serving the banking industry for more than 8 years, he moved into the software business in 1994. Mr. Ahmed has marketed the banking software solutions related to Trade Finance, Cash Management, Risk and Income Management, and correspondent banking.

Director
Mr. Peter Filgur is the founder member and director of CorrTec Private Limited. Mr. Filgur has 35+ years experience in the software solution development business. He has developed, designed and marketed various software solutions to various banks worldwide. Currently Mr. Filgur is responsible for marketing CorrTec's software solution products in the Asian and Australian region.