SyndicateBank implements FLEXCUBE solution in 1001 branches

By : |November 30, 2006 0

NEW DELHI: SyndicateBank today announced that it has implemented Core Banking Solution (CBS) in 1001 branches with FLEXCUBE, from i-flex solutions and with IBM as the System Integrator and Implementation Partner.

“Deployment of the FLEXCUBE CBS has enabled single customer view and anywhere, anytime banking, thereby enhancing the scope and quality of customer service. We aim to reach 1500 branches on CBS by March 2007. FLEXCUBE has also helped us launch new products with reduced time-to-market, and delivered through multiple channels including the branches, networked ATMs, internet and telephone, all truly integrated with a centralised database. This has immensely helped the bank in providing consistent, efficient services in a secure environment, with appropriate controls and risk management practices. Our aim is to provide world-class banking facilities to our customers in the most remote areas”, said CP Swarnkar, chairman and managing director, SyndicateBank.



SyndicateBank was also recognized for its pioneering usage of technology to serve its large customer base with a “Special Award for Use of IT for Customer Service in Semi-Urban and Rural Areas” in September 2006, from the Institute for Development and Research in Banking Technology (IDRBT), established by the Reserve Bank of India.

Commenting on the announcement, Deepak Ghaisas, CEO – India Operations and CFO, i-flex solutions, said, "I would like to extend my hearty congratulations to Syndicate Bank on achieving this important milestone. We, at i-flex, are proud to be supporting India’s premier PSB in their relentless focus on customer satisfaction. With FLEXCUBE’s unsurpassed flexibility and scalability, we look forward to a continued partnership with Syndicate Bank to make it a truly global banking entity with global banking practices.”

The FLEXCUBE implementation has helped Syndicate Bank introduce several services to its customers such as 24×7 banking services, multi city operations, online fund transfers, online e-ticketing for railways, online utility bill payment and online payment of excise duty and service tax. The Core Banking implementation has also benefited Syndicate Bank by substantially increasing productivity and reducing manpower, thereby enabling redeployment of man power to functions critical to the bank’s business.

© CyberMedia News

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