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TJSB Enjoys CBS Benefits|
- By Anuradha Ramamirtham, Jul 25, 2007 1909 hrs IST
- Tags : TJSB Enjoys CBS Benefits
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In September 2006, the Thane Janata Sahakari Bank (TJSB) deployed OMNIEnterprise Core Banking Solution (CBS) from Infrasoft Technologies. This strategy allowed the bank to enhance its market share and profitability through organic and inorganic growth.
According to R.G. Karve, CEO of TJSB, a transition from the decentralized branch banking approach to a contemporary technology-based CBS was adopted. The approach resulted in low cost of operations, focus on business development, and market-share enhancement. Additionally, the bank has gained competitive advantage by implementing customer-centric operations at branches, and by moving all back-office data processing to a common data processing centre.
The centralized service delivery is a strategy that provides services such as anywhere, anytime banking, internet, phone and SMS banking, automated cheque book dispensing, and cheque depository facility to its increasing clientele base. "Due to the establishment of these business units, TJSB has saved manpower to the tune of 70%. Today, the centralized operations of the bank are managed by 15 employees, as against 55 persons working earlier in the branches," said Subodh Nagwekar, CIO of TJSB.
TJSB was initially using the Betrive DOS-based system and moving data from this system to the CBS was a major challenge faced during the transitional phase. "The IT team developed a standard checklist, made trial conversions, and tested and verified all the branch migrations with expected results of the standard checklist. Deviations observed were rectified immediately," said Nagwekar.
TJSB established its data center in November 2005, which is capable of supporting 100 branches. It has 3 layers of physical security including biometric access control, fire detection, and a suppression system. Maintaining the Automated Teller Machine (ATM) connectivity during the migration process, network shifting to the new data centre from old premises, centralized process implementation, and training the staff were some other challenges faced during and post deployment. The bank's area covers 28 locations spread across Mumbai, Navi Mumbai, Thane, Pune, and Nashik. The network integration was made under the guidance of Datacraft India- through the installation of CISCO routers, switches, firewalls, and network intrusion detection and prevention systems.
The IT team gave special emphasis on a CBS training program to all staff members. The training centre was equipped with the required infrastructure. Windows-based software functional training was imparted to the branch staff, 2 days before moving the branch to the new CBS software.
The bank has established a helpdesk to give support to the CBS application branch users, and all calls for application support are handled by the IT team centrally. The managers independently handle functions like database and server administration, delivery channel management, application support and release, data centre infrastructure management and control, and network management.
28 ATMs are running with the anywhere banking transaction routed through the ATM Switch. The IT team has made an Asset Classification with the risks associated, and has taken adequate countermeasures to mitigate the risks.
With the implementation of CBS, TJSB benefits with extended business hours, connectivity to the ATM Switch, instantaneous credit and access to account for inter-branch transaction and term deposits, and reduction in transaction and operating cost.
The bank is maintaining its customer relationship through 24 x 7 delivery channels. To keep the communication lines between the bank and its customers open, various notices are generated by the banking application software - such as term deposit maturity notices, loan installment due notice, etc. Apart from the above, the customer is able to monitor transactions through SMS Banking.
Speaking about the present bottlenecks and plans to overcome them, Nagwekar said, "TJSB has already established a near recovery site, and data log shipment is done using the processes." The recovery time as of today is 2 hours, which is quite high. Therefore, the bank has decided to achieve recovery time of less than 30 minutes. For this, they're taking steps to establish a Data Recovery (DR) Site with cluster base and host-base replication. Data will then be updated at the DR Site, and in case of disaster, the operations can be streamlined within the desired time of 30 minutes. TJSB also plans on introducing the Internet Banking Facility. To build the knowledge repository of the bank's employees, an Intranet Setup is under process.
The IT expenditure budget for the current financial year is Rs.2 crore, considering the fact that the bank is in the process of acquiring 2 co-operative banks.
Related Links:
TJSB Extends CBS to Pune based bank
Thane Janata Sahakari Bank Moves To CBS
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