Ratnakar Bank outsources IT infrastructure

by CXOtoday News Desk    Oct 04, 2012

Ratnakar BankRatnakar Bank, a Kolhapur based private bank has outsourced its IT infrastructure to Netmagic Solutions, a managed IT services provider. As the bank’s managed service provider, Netmagic will host and support infrastructure for applications such as Finacle Core Banking System, Exchange 2010 Email, File Servers, Branch terminal servers, Payment Application Services, Treasury Application Services, Depository Systems, Anti-Money Laundering, Asset Liability Management, Internet Banking, Training Application and HRIS for Ratnakar Bank.

Anup Purohit, SVP & Head IT, Ratnakar Bank told CXOtoday that the maintenance contract has been signed for a period of 5 years. speaking about the role of the managed services, he said that Netmagic is expected to host a primary site in Mumbai as well as a Disaster Recovery (DR) site at its datacenter in Chennai for Ratnakar Bank’s both core banking and non-core banking services. the bank has also outsourced its managed Security services to Netmagic to protect Ratnakar Bank’s hosted IT infrastructure from external threats and will also host the bank’s Desktop-As-A-Service (DAAS) environment.

According to Purohit, Ratnakar Bank is committed to being a customer centric bank and is constantly leveraging the latest technology-enabled services to its customers in a secure manner. “We are implementing our transformation agenda as we plan to nearly double our branch footprint from the current 110 over the next two years, it is essential to scale up our internal IT operations and have a competitive operating cost model,” he said.

He believes that with Netmagic’s expertise, the company will now have dedicated resources during peak hours and shared resources during non-peak hours among other service benefits without increasing our Capex investment in IT.

“Ratnakar Bank is a fast growing bank relying heavily on technology. This strategic decision on the part of their management will add tremendous value to customers of the bank in getting easy access to banking services that were hitherto available with only large banks,” said Sunil Gupta, President and COO, Netmagic Solutions.

He added that the outsourcing deal will also free up the bank’s time to focus on its core banking activities instead of managing IT uptime.