Madhav Bank Outsources IT Architecture

by CXOtoday Staff    Dec 15, 2008

In a bid to support its expansion plans and launch Internet and mobile banking services, the Madhav Nagrik Sahakari Bank has outsourced its IT architecture to IBM for five years.

As part of the agreement, IBM will host and manage the IT infrastructure for the bank enabling it to focus on its expansion plans while reducing its capital expenditure. Signed in Q3′08, this agreement is the first of its kind for IBM in Rajasthan.

The bank wants to increase its presence from the existing network of 25 branches in Rajasthan. It also wants to offer services such as Internet and mobile banking, and ATM facilities to its customers, who are pre-dominantly from semi-urban and rural areas.

“In this age of technology-driven banking, even co-operative bank like ours are taking a leap in providing the best of banking experience to our customers,” said Mukesh Modi, managing director of Madhav Nagrik Sahakari Bank. “Our association with IBM would not only help us focus more on our aggressive growth plans but at the same time ensure a higher degree of customer satisfaction.”

Nipun Mehrotra, vice president and general manager, (Global Technology Services) of IBM India/South Asia said, “Our engagement with Madhav Nagrik Sahakari Bank reiterates IBM’s commitment to helping organizations who are looking to grow their business. By offering our IT services to the bank, we will not only help them cut their IT expenditure but also ensure they are able to focus on their core business and expansion plans. We will continue to expand our geographical reach and work with more clients like Madhav Bank.”

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