The Hindu Business Line : IDRBT plans focus on R&D, IT infrastructure management

THE Institute for Development and Research in Banking Technology (IDRBT) is in the process of charting out a medium term framework for the next three years to gear up for future challenges in the banking sector.

The framework encapsulates the current scenario, including the issues and challenges faced by the banking and financial sector.

The framework analyses the stumbling blocks and presents a strategic plan of action that defines the broad parameters in each of the areas. The specific plan of action defines the targets that are to be achieved by the institute for realising the vision. The institute is poised to complete 10 years.

The focus of the framework is on research and development, education and training, common IT infrastructure management, advisory and consultancy services.

Given the feedback IDRBT has received from the banking and financial sector fraternity, it is set to finalise the MTF, according to Fast Forward, the company in-house newsletter.

The institute is developing a portal for Inficert or Indian Financial Computer Emergency Response Team for the benefit of its multiple users. This would disseminate information that would facilitate incident handling and provide remedial response to the banking and financial community.

The institute has embarked on a process to analyse different tools available for incident handling. Based on the evaluation of these tools, they would be deployed for use.

The National Financial Switch, created by the IDRBT, now connects 5050 ATMs, which is the largest number of ATMs under a single network in the country. The NFS standing community would guide and help ensure that the network offers enhanced quality for its users.

The IDRBT Certifying Authority has issued over 25,000 digital certificates, which account for 70 per cent of the digital certificates issued by all certifying authorities put together in the country. The banks and financial institutions are using these digital certificates for corporate e-mail, RTGS (real-time gross settlement), SFMS (structured financial messaging system), Internet banking and settlements.

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