Cosmos data recovery center in Hyderabad

PUNE: The Cosmos Co-operative Bank Ltd is ready to start a data recovery center in Hyderabad from April 19, 2007.

This center would back up for the Pune data center and would entail investments to the tune of Rs 8 crore.

Possible avenues of offering and sharing data recovery services with other banks are also being discussed. The city was being chosen for its specific seismic zone and IT advantage.

Cosmos bank today announced deployment of smart badges, as part of RSA’s identity and access management solution. A smart badge has embedded smart chips into a card thus combining features like ID badge, employee photo, company logo, authentication and encryption in one card.

Chairman Mukund Abhyankar said, “These badges would cover areas like attendance, physical access, network access and security credentials. The cards are ready and would be operational in 15 days.” The cost incurred is around Rs 50 lakhs that includes hardware, cards, car readers and server hardware. Present scale is up to 1500 persons. The RSS system is intended to address logical security integration, attendance integration, web access management, application security, authentication, single sign-on, user management and automated compliance.

Among other IT initiatives, the bank will start mobile and bill payment services in a month’s time besides plans to launch Internet banking in the next two-three months, told Pramod D Parkhi, director, IT Committee of the bank. “We have around 2 to 2.5 online transactions per day and expect the same to double up with new services. Due to centralized banking across six states and the consequent number of transactions, we need advanced security solutions. This new deployment would add to our existing IT infrastructure that consists of Infosys core banking solution, IBM data centers, and Wipro connectivity solutions.”

The bank has witnessed a Y-o-Y growth of 25 per cent in IT budgets. “We spend around Rs four to five crore every year on upgrading our systems. The new investments are on account of new vendors, new versions and AMCs,” he shared.

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