Over the past few years, the bank's business processes, systems, structure and also the HR policy have undergone major changes to facilitate the smooth implementation of the new business and IT strategy. It has selected Gartner as consultant for both business and IT strategy and Core Banking Solution (CBS), which forms an essential part of the technology initiative. Now CBS is in the last phase of finalization. Meanwhile, BIBAS (Bi-lingual Branch Automation System), a cluster-based multi branch TBM package, will be extended to 900 additional branches.

In tune with this process, centralization is gaining steam, with most branch level servers shifting to central servers. Also, on the anvil is the introduction of a data center, followed by a data recovery site. The technology implementation plan involves not just core banking but deployment of an end-to-end enterprise suite of applications like Global Treasury, Internet Banking, Tele Banking, CRM, Data and Warehousing to provide 24/7 operations across the globe.

It was the first PSU Bank to implement a Web-based lending automation system for its corporate and retail customers. It was also the first to implement integrated Treasury and Risk Management solution in its treasury branch in Mumbai. Add to this: its exclusive e-payment product BoB Money Express is operational across 340 branches in 56 centers. Electronic Data Exchange (EDI) has been implemented at the Kaligram Branch.

Key Highlights • First PSU to implement a web-based lending automation system • Deployed an Integrated Treasury and Risk Management solution Future Plans • End-to-end enterprise applications • Internet stock broking

The networking requirement for this system is supported by INFINET (Indian Financial Network), a combination of VSAT and terrestrial leased line technology. It also offers Internet-based services utility bill payment at www.billdesk.com. It also has plans to create a new subsidiary for broking services with a strategic partner. As the bank is going for IT implementation in a big way, it will also be able to provide Internet stock broking. Another key future initiative, launch of lending automation process, supported by the state-of-the-art centralized web-based technology, would lead to shorter decision-making process.

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