Karur Vysya Bank Rolls Out FLEXCUBE
Karur Vysya Bank Limited, a leading name in the private banking sector down south, has successfully completed the roll out FLEXCUBE in around 90 branches this year alone, aiming to map another 50 branches in the next two months.
Sharing the details of this initiative with CXOtoday, S. Sekar- chief manager information technology, Karur Vysya Bank, said, The deployment of this solution will enable our bank to offer our customers banking services on various delivery channels such as Internet banking, mobile banking etc.
The implementation, which was conducted in a phased manner, saw around 40 branches already covered last year, while this year alone 90 branches have been covered. However, the only spoke in the wheel is the rural connectivity. Says Sekar, Out of the 250 branches and offices scattered across the country, 47 are located in rural areas where connectivity is an issue.
The bank has already initiated talks with BSNL for providing leased lines. When queried about the option of going wireless, Sekar replying in the negative pointed out three key reasons. Says Sekar, The first is the line of site issue, followed by licencing hurdles and the third is the low bandwidth.
The solution, which has been deployed at the data center in Chennai, resides on Oracle 9i deployed on RISC-based IBM machines.
In a general discussion about the banking industry, Sekar observed that with RTGS, and ATM consolidation occurring, one of the key issues concerning most banking CIOs is security. Says Sekar, Apart from the basic security layers, Sekar felt that the need of the hour is to create an environment of awareness among users within the bank in addition to deploying some of the best security practices.
Popularly known as KVB, the bank was first established in 1916 in the textile town of Karur situated in Tamil Nadu.
- How Robo-Advisors Are Disrupting Financial Services
- How HR Analytics Can Be A Game-Changer In The Banking Industry
- Leveraging Cloud Based Payments Effectively
- Quality Assurance In Multi-Channel Banking Era
- Rahul Tewari Joins QuiKr As CFO
- Most CIOs Not Interested In Blockchain 'Hype'
- How AI Is Changing CFO's Role
- CIO Klub Chalks Out Expansion Plan
- Lack Of Trained Staff, Security Hinder FinTech Growth
- Using Cloud, AI To Transform Banking Sector