Canara Bank implement IBM’s core banking solution
Canara bank, Indian public sector bank, recently went live with its core banking solution across 3,057 locations. IBM (NYSE:IBM) implemented the core banking solution and will also provide end-to-end support to the bank over the next seven years.
As part of the engagement, IBM was responsible for designing, building, deployment, and support of the centralized core banking solution and that for the satellite applications. IBM also helped the bank setting up and managing the data center and disaster recovery infrastructure, establishing the local area network in over 1,000 branches, monitoring the wide area network of the bank, and managing business continuity services to be able to seamlessly switch from the data center to disaster recovery mode.
“Customer-led product and services development, adaptation and innovation are the guiding principles for us. Keeping this in mind, we chose IBM to deliver a complete core banking solution on account of their dedication to the success of the clients and their ability to support the Bank’s business growth,” remarked the Canara Bank spokesperson.
The bank’s core banking solution is estimated to touch 45 million customers across India. The solution is powered by the latest IBM Power 7, System x and storage technology and managed by IBM Global business services and global technology services using Tivoli suite of products. This infrastructure today enables 4 million business transactions every day supporting over 2,000 ATMs and 25,000 concurrent users on the system.
“Canara Bank is a perfect example of IBM’s commitment to help organizations build streamlined, dynamic application and infrastructures that allow them to become more resilient, better positioned for growth and participate in building a smarter planet,” states Sriram Rajan, vice president, general business: South, IBM India/SouthAsia.
The Phase Two rollout is one of the fastest roll-outs in India with over 200 branches going live every week, informed the bank. The project also involved one of the fastest data center migration activity in the industry, deploying some of the latest hardware and software from IBM.
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