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Andhra Bank selects HP to implement core banking solution

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CIOL Bureau
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BANGALORE, INDIA: Andhra Bank, has announced, its selection of Hewlett-Packard (HP) India, as its partner of choice for implementing a comprehensive Core Banking Solution (CBS). Infosys’ Finacle Core Banking Solution will be deployed over a five year period. This initiative will enable Andhra Bank achieve significant cost advantages and better business outcomes in the dynamic and competitive banking arena in India. 

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Under the terms of the contract, HP will implement and manage core banking solution (CBS) across Andhra Bank branches in the country.

The CBS implementation using HP OpenBank Reference Architecture on HP’s computing technology will help the bank’s customers in India, access its products & services on a 24x7 basis. The customers will have access to banking and financial services anytime, anywhere through multiple delivery channels. 

As part of the contract, HP will provide Adaptive Infrastructure based on HP Integrity Servers, HP BladeSystems, HP Storage and Software. Also included are Data Center Services, that will help mitigate risk, improve security, lower management & operational costs for the Bank as well as provide the foundation for a flexible and scaleable IT architecture that can grow seamlessly in pace with growing business need.  

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In addition, HP will also implement Delivery Channels, Risk Management & Compliance, Asset Liability Management and Credit Appraisal solutions. HP Services will implement the entire application stack and deliver SLA based Managed Services for the contract period.

Andhra Bank, one of India’s best known banks and a household name in Andhra Pradesh, has the distinction of being 100 percent computerized and is also a pioneer in several fields, including extensive adoption of IT, introduction of credit cards in the country, rural banking and inclusive growth. 

Speaking on the occasion, K. Ramakrishnan - Chairman & Managing Director, Andhra Bank, said, "This initiative further reinforces Andhra Bank’s commitment to be a pioneer in its field and provide its customers with a range of flexible banking options, helping the Bank further realize its goal of ‘Any Branch Banking.’ The CBS implementation is a shining example in the banking world and we’re delighted to be partnering with HP, a technology stalwart with a wealth of experience both in terms of domain knowledge and expertise in managing large, complex projects.” 

Balu Doraisamy, Managing Director, HP India said, “HP is delighted to be selected by Andhra Bank, one of India’s leading banks. HP technology will help the bank offer customer-centric, flexible infrastructure that would enable the bank substantially increase existing service levels and widen its customer base.  With the partnership, Andhra Bank will be in a position to contain costs, mitigate risk and increase the scale and efficiency of its operations, in order to increase service quality to its customers consistently”. 

As the systems integrator, HP will draw on its extensive network of alliances with industry leaders for the integrated deployment of requisite applications.