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Bangalore: UCO Bank announced the inauguration of datacenter at Salt Lake in Kolkata on Thursday. The consolidated datacenter designed and built by Hewlett-Packard (HP) will help the bank reduce its management and operational cost, improve security and reduce risk. The data center will host the server, storage and connectivity infrastructure for the bank.
The DataCenter was completed in a record time of four months. UCO Bank is also the first Public Sector bank in the country to start its Core Banking Solution (CBS) operations with two DataCenters, the other one being in Bangalore, to take care of Disaster Recovery needs & Business Continuity planning.
According to V. Sridar, chairman and managing director, "leveraging on IT enabled services would help the bank in increasing its focus and momentum of growth in the market and offer the best services."
The CBS is based on Infosys’ Finacle Core Banking Solution.
The project also includes integrated alternate delivery channel management covering Internet banking, SMS banking, online share trading with Demat facilities and Debit card and ATM services. The entire infrastructure is designed to meet exacting standards, incorporating key best practices. This project was part of the five-year contract, under the terms of which HP is to help UCO Bank implement and manage a Core Banking Solution across 1000 branches of UCO Bank.
The project also entails HP designing and managing a DataCenter and Disaster Recovery site along with 8 AM to 8 PM helpdesk. About 125 branches are planned to be brought under CBS by March 2007. The bank has already achieved 100% computerization and currently has a total business of Rs. 94,000 crores.
Looking ahead, UCO Bank is planning to introduce Debit cards in tie-up with Visa and Internet banking by September 2006 and the total number of ATMs will be increased to 350 by March 2007. The bank will also be introducing Multiple City Cheque Facility from next month at about 150 centers.
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