BANGALORE, India, June 7, 2012 /PRNewswire/ -- IBM (NYSE: IBM)
today announced that Sree Charan Souharda Cooperative Bank has
selected IBM SmartCloud to help it meet growing demand, add new
customer services and to centralize mission-critical operations
such as real-time transaction processing across its five branches
in Bangalore.
(Logo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO
)
As part of the agreement, the IBM SmartCloud will be used to
deliver the Resilience for Core Banking solution from IBM Business
Partner Infrasoft Technologies Ltd. With this technology on the IBM
SmartCloud, Sree Charan Souharda Cooperative Bank will be better
able to align its business processes with predictive analytics and
offer enhanced financial solutions to its customers including
Internet banking, online money transfer, ATM Services, and mobile
banking.
In addition, with new regulations shaping customer expectations
from cooperative banks in India,
these banks have an increased focus on IT-related compliance in
order to effectively compete against other private banks.
"In today's globally interconnected world, our customers have
increased expectations for better services, particularly in the
areas of Internet and mobile banking. New, more sophisticated and
intelligent technologies can empower change and create
opportunities for our bank to deliver these services and at the
same time manage growth, risk and efficiency," said B V
Dwarakanath, Chairman, Sree Charan Co-operative Bank Ltd. "By
implementing the cost effective, state-of-the-art Core Banking
Solution being delivered via the IBM cloud, we will be able to
operate on a centralized network twice as fast as the existing set
up. This solution is also helping us reduce the burden of upfront
capital expenditure and move to a pay-as–you-use model."
"Cloud computing is having a dramatic impact on the financial
services industry," said Jim
Comfort, vice president, IBM Cloud Services Offering
Management. "We see tremendous opportunity to take advantage of the
opportunities in online banking and at the same time reduce the
cost and increase the return on investment."
"Increasingly, IBM sees cooperative banks opting for a more
robust IT environment, provided by cloud computing, to improve
operational efficiency in a cost effective and secure manner. While
ensuring that the IT infrastructure and customer data is secure,
the solutions also give banks a centralized view of the customers'
business which will help them better understand customer behavior,
and adjust to demand, including increased online and mobile
banking. This win is further testimony to the leadership position
in the banking industry shared by IBM and InfraSoft and our mutual
commitment towards forging relationships with small and medium
sized banks," said KS Raghunandan, director, Integrated Technology
Services, Global Technology Services, IBM India/South Asia.
About Sree Charan Souharda Cooperative Bank
Sree Charan Souharda Cooperative Bank is a member of the
Karnataka State Souharda Federal Cooperative Ltd., the first apex
body of new generation cooperatives in India.
About Infrasoft
For more information on Infrasoft Tech, please visit
http://www.infrasofttech.com/
About IBM
For more information on IBM, please visit
http://www.ibm.com
Follow us @IBMIndiaNews
Media Contacts:
Preeti Gupta, IBM
Communications India
Phone: +91 99015 68510
Email: preeti.gupta8@in.ibm.com
Darcy Hansen, IBM
Communications
Phone: 917-472-3692
Email: hansenda@us.ibm.com
SOURCE IBM