| The company also plans to implement the cluster-based core banking solution to 500 branches of Corporation Bank. |
| Addressing a press conference B S Kamath, chairman and managing director, Laser Soft Infosystems Ltd, said, "We have so far implemented the cluster-based core banking solution at 140 branches of Andhra Bank by using ProBank Core Banking solutions. We started the implementation of the cluster based core banking system in July 2002. |
| ""The total investment in implementing the solution for 800 branches of Andhra Bank is about Rs.30 crore, which is expected to be completed by the end of the current fiscal. The implementation of software alone out of total core banking solution will amount to Rs 7 crore. We started five pilot branches which were fully automated using ProBank CB on March 2000 and automated 400 branches by March 2001, "he added. |
| Cluster based core banking is a variant of core banking solutions as it connects zonal servers to the central server using the wide area network. |
| This system ensures fail-safe method to provide uninterrupted service to customers. The benefits of cluster-based solution includes enabling of branch server support local operations when network is down and data backup for branches. |
| The other benefit will be that data can be stored for a long term which would be helpful to service banking customers who have taken a long-term loans. |
| Kamath said, "Cluster mode of core banking is the ideal solution for big banks having a large number of branches. The company has also deployed Laser Tueig Solutions, a low-cost solution provider, which is directed towards 400 small and rural branches." |
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