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Pune March 22 Pune-based Cosmos Cooperative Bank has implemented RSA security solutions, according to Mr Srikiran Raghavan, Regional Head RSA.

Dr M. Abhyankar, Chairman, Cosmos Bank, said Rs 50 lakh had been invested for the security solution. The bank will deploy the integrated identity and access management (IAM) solution by April 1. He said smart cards would soon be issued to the bank's 1,600 employees for access to the system.

Dr Abhyankar said the bank would also introduce facilities such as bill payment, mobile banking and online banking within three months. He said daily transactions would be increased from 2.5 lakh at present to 5 lakh within a year.

Dr Abhyankar also said the bank would set up a disaster recovery centre (DRC) in Hyderabad and it would begin operations on April 19.

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