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V Chandrashekhar, Bank of Baroda |
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Over the past few years, the bank's business processes, systems, structure
and also the HR policy have undergone major changes to facilitate the smooth
implementation of the new business and IT strategy. It has selected Gartner as
consultant for both business and IT strategy and Core Banking Solution (CBS),
which forms an essential part of the technology initiative. Now CBS is in the
last phase of finalization. Meanwhile, BIBAS (Bi-lingual Branch Automation
System), a cluster-based multi branch TBM package, will be extended to 900
additional branches.
In tune with this process, centralization is gaining steam, with most branch
level servers shifting to central servers. Also, on the anvil is the
introduction of a data center, followed by a data recovery site. The technology
implementation plan involves not just core banking but deployment of an
end-to-end enterprise suite of applications like Global Treasury, Internet
Banking, Tele Banking, CRM, Data and Warehousing to provide 24/7 operations
across the globe.
It was the first PSU Bank to implement a Web-based lending automation system
for its corporate and retail customers. It was also the first to implement
integrated Treasury and Risk Management solution in its treasury branch in
Mumbai. Add to this: its exclusive e-payment product BoB Money Express is
operational across 340 branches in 56 centers. Electronic Data Exchange (EDI)
has been implemented at the Kaligram Branch.
| Key Highlights |
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First PSU to implement a web-based lending automation system
• Deployed an Integrated Treasury and Risk Management solution |
| Future
Plans |
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End-to-end enterprise applications
• Internet stock broking |
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The networking requirement for this system is supported by INFINET (Indian
Financial Network), a combination of VSAT and terrestrial leased line
technology. It also offers Internet-based services utility bill payment at
www.billdesk.com. It also has plans to create a new subsidiary for broking
services with a strategic partner. As the bank is going for IT implementation in
a big way, it will also be able to provide Internet stock broking. Another key
future initiative, launch of lending automation process, supported by the
state-of-the-art centralized web-based technology, would lead to shorter
decision-making process.
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