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TJSB Upgrading its IT Infrastructure
By Abhinna Shreshtha
Mumbai, Oct 20, 2008 1555 hrs IST
Thane Janata Sahakari Bank (TJSB), a co-operative bank with a network of 42 branches and two extension counters spread in Thane, Mumbai Navi-Mumbai, Pune, and Nashik, It is planning to upgrade its existing server infrastructure to Itanium-based servers.
Subodh Nagvekar, CIO of TJSB said, "The decentralised branch banking approach didn't quite work in the current business scene so a contemporary technology-based core banking solution was the need of the hour. We are now looking to implement virtualization within the organization and for this we have shifted the solution to Itanium-based servers." Virtualization will enable the bank to reduce the total number of physical servers, saving costs and space, and giving better performance.
To keep pace in the competitive environment and cut cost of operations and focus on business development and market-share enhancement, TJSB deployed a core-banking solution from HP in 2005. Three years down the line, the bank is looking to upgrade its system to improve services and scale up its operations.
The bank also provides data warehousing services to smaller co-operative banks. Nagvekar said they are looking to leverage virtualization to run both Windows 2008 server and SQL servers on the same platform to provide better services to their clients.
TJSB has an IT annual budget of around Rs two crore. This is non-exclusive of special projects that might come up as and when needed. The bank already has a near recovery center in Thane that went operational an year back. It is currently looking to start a disaster recovery center in Pune. Other major projects in the pipeline include a loan sanctioning system and opening of new branches in Karnataka, Gujarat, and other districts of Maharashtra.
Speaking about the loan sanctioning project, Nagvekar said that they are using a solution from IT solutions provider - Finnacle Solutions. The system will ease the process of acquiring commercial and retail loans and is currently being tested at two of their branches.
Related links:
Punjab Sees Large-scale Core Banking Rollout
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