SBI MF Integrates Fund Management System
SBI Funds Management, an asset management company (AMC) appointed by SBI Mutual Fund, has integrated its fund management system and is now on the look out for establishing security across all its systems.
Speaking to CXOtoday, Subhojit Roy, head-IT, SBI MF, said, “We have recently completed the integration of various applications under a unified fund management system. The applications deal with front and back office in addition to cash management.”
The technology has been provided by Bangalore based Datacons (maker of MFund Dealing), who along with our inhouse IT team, have undertaken the integration.”
The company has around fifteen user licenses although the technology was initially purchased on licenses based on the number of sites using it. The company had started with the use of back office module more than a year ago and subsequently has integrated the front office and cash management components in the system at a total expenditure of close to Rs 40 lakh.
A combination of HP and IBM servers host the application on an Oracle 9i database running on Windows 2000 platform at the server level with Windows XP at the desktop level.
As for the challenges in the integration process, Roy says, “On the technical side, maintaining data integrity while migrating from the old systems to the new was a challenge in itself. As a non-technical challenge, we had consumed a lot of time in getting the actual users involved and finally getting their acceptance for the new integrated system.”
The company has also recently networked all its offices taking the backbone support of its parent company, SBI. It shares a 64 Kbps leased line with SBI and uses 2 Mbps dedicated line for its head office.
Talking about the latest initiative that Roy is about to embark on, he said, “We are looking at establishing comprehensive security system that would include patch management, intrusion detection system and others for our back up and disaster recovery facility. We have started evaluating various products for the same.”
The company has marketing presence in 45 cities in India for collection from around 10 lakh investors. Its registrar and transfer (R&T) activity is handled by Chennai based CAMS.
- HR Managers See CRM As An Effective Business Tool
- Myriad Possibilities Of The Application Economy
- Third Party Digital Cos Will Generate Over $31 Bn This Year
- Why Artificial Intelligence Is Poised To Disrupt E-Commerce
- Blockchain, Distributed Ledgers Will Take Time To Mature: Gartner
- NetApp Appoints Senior Execs To Strengthen India Business
- Cloud Momentum Consistently Up Across Financial Biz Apps
- Capital Float Digitally Removes Credit Gap
- Artificial Intelligence Is Changing The Farms of the Future
- Cloud Computing Can Protect Firms Against Cyber Threats: Experts