Pondicherry Co-operative Urban Bank Ltd has adopted IBM SmartCloud for its core banking solution. The solution will help the bank offer more customer-centric services and establish a ‘robust’ banking operation.
This is IBM’s third win in the co-operative bank sector for cloud computing. Prior to this IBM implemented a SmartCloud solution for Nawanagar Co-operative Bank Ltd in Gujarat and Sree Charan Souharda Co-operative Bank Ltd in Bangalore.
As part of the agreement with Pondicherry Bank, one of the leading co-operative banks in the Puducherry region, IBM will provide shared private cloud infrastructure services to host and manage core banking application from IBM Business Partner Infrasoft Technologies Ltd.
With new regulations shaping customer expectations from co-operative banks in India, these banks have an increased focus on IT-related compliance in order to effectively compete against other private banks, says a press release issued by IBM.
By implementing the multi-tenant infrastructure as a service on the cloud, the bank will be able to offer financial solutions to customers, including Internet banking, online money transfer, ATM and mobile banking. It will also help the bank centralise its mission-critical operations such as real-time transaction processing across its six branches in Puducherry.
This shared private cloud for compute and storage is implemented from an IBM data centre in Bangalore and has the ability to rapidly provision capacity for additional branches as required, the release said.