Bangalore-Based Bank Chooses IBM Cloud for Core Banking Solutions

In todays globally interconnected world, our clients have increased expectations for better services, particularly in the areas of Internet and mobile banking. New, more sophisticated and intelligent technologies can empower change and create opportunities for our bank to deliver these services and together manage growth, risk and efficiency, said B V Dwarakanath, Chairman, Sree Charan Co-operative Bank Ltd. By implementing the cost effective, state-of-the-art Core Banking Solution being delivered via the IBM cloud, we will be able to operate on a centralized network twice as fast as the existing set up. This solution is as well helping us reduce the burden of upfront capital expenditure and move to a pay-asyou-use model.

Dramatic impact on the financial services industry

Cloud computing is having a dramatic impact on the financial services industry, said Jim Comfort, vice president, IBM Cloud Services Offering Management. We see tremendous possibility to take advantage of the opportunities in online banking and together reduce the cost and increase the return on investment.

Increasingly, IBM sees cooperative banks opting for a more robust IT environment, provided by cloud computing, to improve operational efficiency in a cost effective and secure manner. During ensuring that the IT infrastructure and customer data is secure, the solutions as well give banks a centralized view of the clients business which will help them better understand customer behavior, and adjust to demand, including increased online and mobile banking. This win is furthermore testimony to the leadership position in the banking industry shared by IBM and InfraSoft and our mutual commitment towards forging relationships with small and medium sized banks, said KS Raghunandan, director, Integrated Innovation Services, Global Research Services, IBM India/South Asia.