Zoroastrian Bank Automates Core Banking
Zoroastrian Co-operative Bank is automating and integrating core banking solutions across all its 12 branches in Mumbai and Pune.
IBS Bespoke Solutions Pvt. Ltd. - a subsidiary of Intelligent Business Systems (IBS) Pvt Ltd in India, will provide IT infrastructure in the project and another company Infrasoft, will supply the OmniEnterprise CBS and manage data migration.
Before automation, the branches worked as independent entities, as they were not inter-connected. “However, each branch had its own independent IT system,” said IBS CEO, Kaustubh Chokshi.
He added, “We will set up the IT infrastructure include hardware, software and network for the bank at all the branches. We will also manage the data centers and other communication network for the bank.”
“We have signed a three year contract with the bank for maintenance of the system. The implementation is already underway, and is likely to be completed before the March 31. We started the implementation programme mid-February, ” he informed.
The deal is estimated at Rs 2.5 crore. The companies are also discussing who would train the staff at Zoroastrian.
F. K. Banatwalla, managing director at Zoroastrian said, “IBS Bespoke Solutions helped us to design the infrastructure in such a manner that, without loss of performance, the bank could save considerable money on the deployment of the Core Banking Solution.”
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