Canara Bank, one of the largest public sector banks in India, has tied up with IBM for its Core Banking solution across 3,057 locations. IBM, increasing its strength across consulting, technology services, and infrastructure management, has executed the Core Banking solution (CBS) and for the next 7 years company will be providing end-to-end support to the bank for smooth operation of CBS.
In August 2005 an agreement was signed between Canara Bank and IBM for the implementation of the comprehensive Centralized Banking solution comprising a suite of 14 satellite applications centered on the CBS. Under the agreement IBM has created design, built, deployed and is providing support to the centralized CBS as well as for the satellite applications.
IBM has also provided support for setting up and managing the data center and disaster recovery infrastructure, by establishing the Local Area Network in over 1,000 branches, monitoring the Wide Area Network of the bank, and managing business continuity services so that bank can easily switch from the data center to disaster recovery mode.
A Canara Bank spokesperson said, “When it comes to technology adoption, Canara Bank has been the front runner in adopting technology among the public sector banks in India. We are pleased to have a dedicated team of IBM experts at Canara Bank, who helped us make informed decisions about the future of our IT environment. Customer-led product and services development, adaptation and innovation are the guiding principles for us. Keeping this in mind, we chose IBM to deliver a complete Core Banking Solution on account of their dedication to the success of the clients and their ability to support the Bank’s business growth. The value proposition of IBM’s overall solution was unmatched.”
Canara Bank through CBS has reached to 45 million customers across India. IBM Global Business Services team has been responsible for the execution of entire solution and integration increasing their banking industry and complex systems integration experiences. The solution is power-driven by IBM POWER7, System x and Storage Technology which is being managed by a team of experts from IBM Global Business Services and Global Technology Services using Tivoli suite of products. Over 2,000 ATMs and 25,000 concurrent users on the system are being supported by this infrastructure resulting to 4 million business transactions everyday.
The IBM has completed its task of implementation of one of the world’s largest integration project around CBS, which acknowledges IBM’s ability to integrate and deliver complex industry solutions. However, in Phase Two the work is being done at more fast pace with over 200 branches getting live every week in India. IBM has also provided latest hardware and software for the fastest data center migration activity in the banking industry.
Sriram Rajan, Vice President, General Business, South, IBM India/SouthAsia said, “Canara Bank India recognized the need to build a robust, dynamic solution to address their current and future expansion plans. Canara Bank is a perfect example of IBM's commitment to help organizations build streamlined, dynamic application and infrastructures that allow them to become more resilient, better positioned for growth and participate in building a smarter planet.”
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