The Hindu Business Line : HP bags Andhra Bank contract

Maintenance deal: The Chairman and Managing Director of Andhra Bank, Mr K. Ramakrishnan (left), and the Managing Director of Hewlett-Packard India, Mr Balu Doraisamy, at a press conference in Hyderabad on Monday. —

Our Bureau

Hyderabad, Oct. 22 Andhra Bank today announced it has selected IT services major Hewlett-Packard (HP) India as its partner for implementation of a comprehensive Core Banking Solution (CBS) and for maintenance and management of its technology resources for a five-year period.

While HP will deploy Infosys’ Finacle Core Banking Solution across the bank’s branches, the mandate includes creating two data centres in Hyderabad and Chennai. The latter would also serve as a disaster recovery facility.

According to the bank management, the deal size, and number of people to be deployed, would be disclosed at an appropriate time. The CBS combines best of breed technology hardware and software that includes HP Openbank reference architecture and empowers the bank’s customers to access products and services round the clock. Significantly, this would also enable Andhra Bank to meet various regulatory issues, including Basel II compliance norms, while addressing important aspects such as know your customer (KYC), anti-money laundering and various risk related solutions.

Tech transformation

Addressing a press conference, the Chairman and Managing Director of Andhra Bank, Dr K. Ramakrishnan, said “this technology transformation project, to be deployed in a phased manner, including with a pilot initiative in 25 branches, would provide a single view of various customers and complement the ‘cluster-technology’ which the bank had created over the years.”

The Managing Director of HP India, Mr Balu Doraisamy, said: “HP technology will help the bank offer customer-centric, flexible infrastructure that would enable the bank substantially increase existing service levels and widen the customer base. This would contain costs, mitigate risks and increase scale and efficiency of operations.”

As a system integrator, HP would draw on its extensive network alliances in the industry to offer integrated services. KPMG and a team of experts from the Indian Institute of Science served as advisors for the bank.

The project would cover implementation of delivery channels, risk management and compliance, asset liability management and credit appraisal solutions, through a services level agreement for managed services during the contractual period.

The accent is on improving productivity and faster process of various services.

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