IT major Tata Consultancy Services (TCS) has completed implementation of a core banking solution (CBS) in over 4,000 branches in State Bank of India (SBI)and its seven associate banks. Going by the number of branches covered, this is the largest CBS project in the world. |
The implementation was spread over all circles of the bank, covering major urban and semi-urban centres of the country and is one of the fastest rollouts in the world. |
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TCS implemented the solution across 1,670 branches of SBI and 2,340 associate banks. The rollout will help SBI offer efficient and personalised customer service, 24 X 7 banking through multiple delivery channels, faster time-to-market and superior relationship management at the bank, said Yogesh Agarwal, managing director, State Bank of Patiala. |
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Within the SBI family, TCS has completely networked State Bank of Patiala's 753 branches, making it the first public sector bank to function fully on a computerised infrastructure. The branch has 37 per cent of its branches in rural areas, apart from that in Himachal Pradesh and 27 per cent in semi-urban areas. |
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This technology roll-out would help SBI position itself as a major player in India and upgrade the group to meet the changing environment, he said. |
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The solution was implemented in SBI's seven associate banks branches, including State Bank of Hyderabad, State Bank of Indore, State Bank of Bikaner and Jaipur, State Bank of Travancore and State Bank of Patiala among others. |
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SBI has around 9,000 branches in the country. Implementation and networking of its remaining branches are also at various stages of implementation. The total branch network of the SBI family is over 14,000. |
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The Tata group was the system integrators of the project and had implemented a solution set, including the CBS Bancs from Sydney-based Financial Network Solutions (FNS), Exim Bills trade finance software from China Systems and e-Treasury from TCS. |
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TCS was appointed by SBI in 2002 as the prime systems integrator for CBS and trade finance technology solutions. The company has also undertaken training of key members of the SBI staff. |
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The Tata group had also bagged a contract from Central Bank of India (CBI) to implement CBS in over 1,000 of its branches. |
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