Central Bank of India partners with TCS for its core banking solution
June 16, 2005

• Over 1,000 branches to go live on TCS-implemented centralised core banking system
• First CBI branch goes live in less than 10 weeks
  

Central Bank of India (CBI) and Tata Consultancy Services (TCS) announced that over 1,000 branches of CBI would go live on the centralised core banking solution being implemented by TCS. The solution set to be implemented will include B@NCS from Sydney-based Financial Network Solutions (FNS), Exim Bills Trade Finance software from China Systems and eTreasury from TCS.

TCS will be responsible for system integration, including networking and data centre set-up. As a part of the initiative, TCS will redesign and deploy a bank-wide corporate network covering about 1,367 locations, by designing, building and maintaining the data center, disaster recovery center and facilities management services for the bank over the next five years.

Under the rapid implementation programme, the first branch of Central Bank of India in Mumbai has already gone live within a record time of ten weeks — the fastest implementation of any core bank solution in the country.

The scope of the entire project covers 1,000 branches of the CBI network, including the retail, corporate, trade finance and delivery channels for internet banking, phone banking and mobile banking (SMS and WAP). TCS along with CMC will redesign and deploy a Bank Wide Corporate Network covering about 1,367 locations, by designing, building and maintaining the data center and disaster recovery center and facilities management services to the bank over five years. CMC has also provided key hardware for this project in areas related to networking, servers and peripherals.

Over 25 million customers spanning across loans, deposits, branch automation and cards and over 38,303 employees will benefit from the IT initiatives of the bank. Under the rapid implementation schedule, it is expected that 25 pilot branches will be operational in as little as six months. This would represent a record for a core-banking project of this scale and sophistication.

Commenting on the initiative, Dr Dalbir Singh, chairman, Central Bank of India, said, "The core banking solution is a critical part of our IT strategy. Our technology initiatives are an effort to maintain and develop our competitive position. We are glad to have the technology solution from TCS, Asia’s largest software consulting company, which will go a long way in enhancing delivery of superior products and services to our customers."

Commenting on the partnership, S Ramadorai, chief executive officer and managing director, Tata Consultancy Services, said, “The mandate from Central Bank of India reiterates our unparalleled ability to handle large, complex projects with great speed and efficiency. TCS is committed to delivering value to CBI and the bank’s customers will be able to access their bank accounts through multiple delivery channels like ATMs, Internet and mobiles on 'on-line-real-time' basis shortly.”

In a phased rollout, the project will be undertaken across 100 branches of Central Bank of India in less than one year. Complete implementation of the solution would enable customers’ access their bank accounts through multiple delivery channels like ATMs, internet and mobiles on 'on-line-real-time' basis.

The Centralised Core Banking System will result in efficient and personalised customer service, 24x7 banking through multiple delivery channels, faster time-to-market and superior relationship management at the bank. It will gear the banking group to meet the dynamically changing environment. Operationally, fees can be centrally monitored, Interest rates can be changed, and reports can be generated centrally. Software distribution complexities can be managed centrally and all major operations are done in the central data center. TCS is adopting the Ready to Deploy Core Banking Solution Implementation Model developed by TCS at its Core Banking solution Centre of Excellence.