Syndicate Bank Branches Go Live On FLEXCUBE

by CXOtoday Staff    Dec 01, 2006

Syndicate Bank has implemented Core Banking Solution (CBS) in 1001 branches with FLEXCUBE, from i-flex solutions. IBM is the system integrator and implementation partner.

“Deployment of the FLEXCUBE core banking solution has enabled single customer view banking, thereby enhancing the scope and quality of customer service. We aim to reach 1500 branches on CBS by March 2007,” said C.P Swarnkar, chairman& MD, Syndicate Bank.

“FLEXCUBE has also helped us to launch new products with reduced time-to-market, and deliver it through multiple channels like the branches, networked ATMs, internet and telephone, all truly integrated with a centralised database,” added Swarnkar.

Commenting on the announcement, Deepak Ghaisas, CEO - India Operations, and CFO, i-flex solutions, said, “With FLEXCUBE’s unsurpassed flexibility and scalability, we look forward to a continued partnership with Syndicate Bank to make it a truly global banking entity with global banking practices.”

The FLEXCUBE implementation has helped Syndicate Bank introduce services for customers like 24×7 banking services, multi-city operations, online fund transfers, e-ticketing for railways, utility bill payment, payment of excise duty and service tax.

Syndicate added that the core banking implementation has benefited it to increase productivity, reduce manpower, and enable re-deployment of manpower for functions that are critical to the bank’s business.