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Bangalore-Based Bank Taps IBM Cloud for Core Banking SolutionsJun 14, 2012 (Close-Up Media via COMTEX) -- IBM announced that Sree Charan Souharda Cooperative Bank has selected IBM SmartCloud to add new customer services and to centralize mission-critical operations such as real-time transaction processing across its five branches in Bangalore. As part of the agreement, IBM reported that the IBM SmartCloud will be used to deliver the Resilience for Core Banking solution from IBM Business Partner Infrasoft Technologies. With this technology on the IBM SmartCloud, Sree Charan Souharda Cooperative Bank will be better able to align its business processes with predictive analytics and offer enhanced financial solutions to its customers including Internet banking, online money transfer, ATM Services, and mobile banking. According to a release, with new regulations shaping customer expectations from cooperative banks in India, these banks have an increased focus on IT-related compliance in order to effectively compete against other private banks. "Cloud computing is having a dramatic impact on the financial services industry," said Jim Comfort, VP, IBM Cloud Services Offering Management. "We see tremendous opportunity to take advantage of the opportunities in online banking and at the same time reduce the cost and increase the return on investment." "Increasingly, IBM sees cooperative banks opting for a more robust IT environment, provided by cloud computing, to improve operational efficiency in a cost effective and secure manner. While ensuring that the IT infrastructure and customer data is secure, the solutions also give banks a centralized view of the customers' business which will help them better understand customer behavior, and adjust to demand, including increased online and mobile banking. This win is further testimony to the leadership position in the banking industry shared by IBM and InfraSoft and our mutual commitment towards forging relationships with small and medium sized banks," said KS Raghunandan, director, Integrated Technology Services, Global Technology Services, IBM India/South Asia. More information: www.ibm.com ((Comments on this story may be sent to [email protected])) |