Tata Communications, the leading provider of state-of-the-art infrastructure solutions for the banking and financial sector, today said its hosted core banking solution (CBS) for Nainital Bank, a leading private sector bank, is ready to go live in the Delhi NCR region. CBS roll out for the rest of the branches would be completed shortly.
Tata Communications’ BFSI drive is spearheaded by its newly setup wholly owned subsidiary Tata Communications Banking InfraSolutions Ltd (TCBIL). TCBIL offers packaged banking solutions, referred to as “Bank in a Box”, like ATM services, card issuance and management, end-to-end POS acquiring, hosted core banking etc. TCBIL is strongly positioned for offering a robust Payment System for managing the dynamically changing expectations of the customers in the banking sector. TCBIL has begun the current financial year with an order book of US $100 million.
“We are proud to partner Nainital Bank in their automation drive with our hosted CBS solutions which are specifically tailor-made for smaller banks that have the aspiration of modernizing but face challenges associated with high capital cost for captive CBS. Our solution allows banks to opt for pay-per-branch model, thereby removing the need for investing and maintaining captive IT infrastructure,” Rajiv Singh, President, TCBIL said.
Nainital Bank has a network of 92 branches with a fifth of them in the Delhi NCR Region. The entire implementation is likely to get over in the next few months
About Tata Communications
Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
The Tata Global Network includes one of the most advanced and largest submarine cable networks, a Tier-1 IP network, with connectivity to more than 200 countries across 400 PoPs, and nearly 1 million square feet of data center and collocation space worldwide.
Tata Communications’ depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services, leadership in global international voice, and strategic investments in operators in South Africa (Neotel), Sri Lanka (Tata Communications Lanka Limited), Nepal (United Telecom Limited), and subject to approval by the Chinese government, China (China Enterprise Communications)
Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India and its ADRs are listed on the New York Stock Exchange. (NYSE: TCL)
