Thane Janata Sahakari Bank Moves To CBS
Thane Janata Sahakari Bank (TJSB) has announced that it has successfully deployed Infrasoft Tech’s OMNIEnterprise core banking solution (CBS) to effectively manage its operations, integrate disparate business processes and provide customers with modern up-to-date banking experience.
With this, TJSB joins a handful of co-operative banks that have already deployed a CBS and based their operations around an integrated centralized architecture.
Citing the reasons for doing away with its decentralized branch banking approach and adapting a centralized one, R.G. Karve, CEO, TJSB said, “Such a change was necessary for us to align our business goals with our operations. The CBS implementation will allow us to reduce operational costs, become customer-centric and focus more on business development initiatives. It has already moved most of our back-office data processing activities to a common data processing center and helped us comply with various regulatory mandates.”
OMNIEnterprise is a CBS designed specifically for the smaller banks. It provides integrated general ledger, profit & loss and reporting for all functional modules. The solution boasts of a robust Business Rule Processing Engine for transactions and accounting, a back-office operations management system and reliable connectivity features to the functional modules for on-line transaction processing.
Infrasoft partnered with HP to provide the hardware components for its OMNIEnterprise application. The solution has been deployed on HP Blade servers at the bank’s data center. Infrasoft migrated 24 TJSB branches and offices and is currently in the process of migrating the head office operations of the bank on to the single enterprise wide centralized banking solution. The CBS leverages Oracle 10g database, HP PA-RISC servers and HP storage offerings.
Talking about the implementation Subodh Nagwekar, CIO, TJSB said, “For us performance, scalability, uptime, reliability and investment were the key factors while choosing the CBS. We started out with automation of our branches early last year and once we completed that around January ‘06, we moved all of our branches on to CBS platform within a couple of months. We also trained our in-house IT team and users extensively to ensure a smooth transition.”
Currently there are about 350 users using the CBS in the bank.
TJSB also hired the services of VISTA InfoSec, a company specializing in audit of information systems security and networks, during both pre and post implementation periods, according to Nagwekar.
Along with the migration activities, the bank also erected its own data center based in Thane. All the branches of the bank are connected to the data center via 64 KBPS leased circuits with ISDN as backup lines. The facility is also allowing TJSB to earn some additional money and reduce the total cost of ownership as the bank is already sharing the data center with another co-operative bank.
- Weekly Rewind: Top 10 Stories On CXOtoday
- Bitcoin: Changing The Business Landscape
- Things To Remember While Buying A Power Bank
- NASSCOM Organizes 4th Edition Of Big Data & Analytics Summit 2016
- Meet The World's 12 Highest-Paid Tech CEOs
- Dell Sells Out Quest And SonicWall To Fund EMC Deal
- Tax Reimbursement Claims, Still A Dreaded Dump Of Paperwork
- Mobile, A Game Changer In Banking
- How Retailers Can Add The Human Factor To Boost Sales
- In 2036, Shall We Have More Machines Than Humans?