Punjab National Bank (PNB), India’s second largest public sector bank, has implemented the Finacle Universal Banking Solution at all its 4,604 branches and extension counters on Sun infrastructure and the Oracle database, according to a release from the bank on Thursday. The solution has been rolled out across 100 per cent of PNB’s branches in record time, the bank said.
The project was completed in November 2008, four months ahead of schedule. The Finacle core banking solution was implemented across PNB’s operations on the Oracle database platform and Sun SPARC enterprise servers from Sun Microsystems. PNB offers a range of banking services through its branches, which include 249 extension counters - the largest amongst nationalised banks. The solution will help PNB achieve total automation, as well as centralisation of its diverse operations, standardisation of branch processes, high scalability for future business growth, flexibility to create innovative banking products to its different lines of business, and also keep tab on overall costs.
Finacle was first implemented in PNB in 2001, making it the first public sector bank in India to opt for a new generation core banking platform. The bank today has over 22,500 concurrent users on the Finacle platform, with the number of peak transactions at 3.5 million.
PNB has also established a disaster recovery site, and as part of test drills conducted with Sun Microsystems, successfully operated out of its alternative datacentre.
