The Pondicherry Co-operative Urban Bank has selected IBM SmartCloud for its Core Banking Solution (CBS). The SmartCloud solution will help the bank offer more customer-centric services and establish a robust banking operation.
As part of the agreement with Pondicherry Bank, IBM will provide shared private cloud infrastructure services to host and manage the CBS from IBM Business Partner, Infrasoft Technologies Ltd. By implementing this multi-tenant Infrastructure as a Service (IaaS), the bank will be able to offer state-of-the art financial solutions to its customers including Internet banking, online money transfer, ATM and mobile banking. The IBM SmartCloud will also help the bank centralize its critical operations such as real-time transaction processing across its six branches in Pondicherry.
This shared private Cloud for compute and storage is implemented from an IBM data center in Bangalore and has the ability to rapidly provision capacity for additional branches as required.
“Today we live in a global village where almost everything is available at our doorstep. Keeping this in mind we wanted our customers to have the same ease when they bank with us. We also felt the need to be on par with the services that private or nationalized banks usually offer,” said R Muralidharan, Administrator, The Pondicherry Co-operative Urban Bank.
“With the implementation of Core Banking Solution on IBM SmartCloud, we will be able to operate from a single location at greater efficiency,” he added.
“With cooperative banks increasingly scaling their IT to improve operational efficiency for consistent and cost effective services, IBM is providing Cloud-based infrastructure to host the CBS,” said KS Raghunandan, Director, Integrated Technology Services, Global Technology Services, IBM India/South Asia.
“We are privileged to be associated with Pondicherry Cooperative Bank in partnership with IBM”, said Hanuman Tripathi, Group Managing Director, InfrasoftTech, “Cloud-based Core Banking offering will be the game changer for smaller banks in India. Through our partnership with IBM, we are offering our OMNIEnterprise Core Banking Solution on a reliable, scalable and robust IT infrastructure provided by IBM. This implementation will enable Pondicherry Bank to provide banking services across multiple channels, hitherto unavailable, as well as provide significant efficiencies in risk management and compliance.”
This is IBM’s third win in the co-operative bank sector for cloud computing. Prior to this it had implemented a SmartCloud solution for Nawanagar Co-operative Bank Ltd. in Gujarat and one for Sree Charan Souharda Co-operative Bank Ltd. in Bangalore.