Andhra Bank has signed up with Hewlett Packard (HP) India to implement comprehensive core banking solution (CBS) at its branches. As per the contract, the pilot will be done in about 25 branches and within a matter of 24 months, nearly 550 branches will be under CBS covering about 80% of the bank’s business.
Speaking at a press conference here on Monday, K Ramakrishnan, chairman and managing director of the bank, in the first phase CBS would be implemented in 550 branches and in due course of time all the 1300 odd branches of the bank would come under the CBS net. “As per the contract, Infosys’ Finacle CBS will be deployed at the bank’s branches over a five year period. HP will implement and manage CBS across the bank in the country.”, he said.
The CBS would help the bank’s customers to access all the products and services on a 24X7 basis. They would have access to banking and financial services any time, anywhere and through multiple delivery channels.
As part of the contract, HP would provide adaptive infrastructure based on HP integrity servers, bladesytems, storage and software. Besides, it would also offer data centre services. HP would also implement delivery channels, risk management and compliance, asset liability management and credit appraisal solutions.
Andhra Bank already has a cluster based banking solution in place, now with HP as its partner, it would migrate to centralised CBS. With globalisation and new basel II norms, it is required for the bank to implement CBS, he said.