Tata Comm deploys banking soln for Jaoli bank

MUMBAI: Tata Communications, a provider in telecommunication services, announced on Thursday that Dattatraya Maharaja Kalambe Jaoli Sahakari Bank Ltd (Jaoli Bank), a cooperative bank of Maharastra, has chosen to implement hosted core banking solution (H- CBS) for the bank.

Jaoli Bank has a network of nine branches and has opened its tenth branch on Thursday in Navi Mumbai inaugurated by state minister Ganesh Naik, said a press release.

As part of the automation drive, Jaoli Bank has implemented core banking solution in all its 10 branches, which would allow the bank to provide 'Any Branch Banking Services' to its customers.

The bank is currently using “Hosted Data Center, Recovery Site and Connectivity” among its branches provided by Tata Communications Banking InfraSolutions Ltd ( TCBIL), the release added.

“We are proud to partner Jaoli Bank in their automation drive with out hosted CBS solutions which are specifically tailor-made for smaller banks that have the aspiration of modernizing but face challenge associated with high capital cost for captive CBS,” said, Rajiv Singh, president, TCBIL.

“The implementation of CBS, which besides improving customer service, would also quicken our time to market new products and give us an opportunity to upsell and cross sell various other financial products to customers,” said Vithalrao Deshmukh, chairman, Jaoli Bank.