Brief

Thane bank deploys core banking solution

The Thane Janata Sahakari Bank (TJSB) has announced that it has deployed a core banking project through its partnership with InfrasoftTech and HP at the enterprise level. Established in 1972, the bank serves over 500,000 customers, operates a network of 20 branches and five extension counters spread in Thane, Mumbai, Navi-Mumbai, Nasik, and Pune.

Vidyadhar Vaishampayan, Chairman, TJSB stated, “Implementation of the core banking solution is a business transformation issue. We were looking for a solution that would give our customers a unified view of their interaction with the bank through multiple delivery channels and would cater to consumer banking requirement with comprehensive back-office functionality.”

The TJSB handles a volume of business mix of around Rs 1,800 crore with zero net non-performing assets and capital to risk-weighed assets ratio of 20 percent. Apart from regular banking, the bank also offers many value-added services like bank assurance products selling services, FOREX and money changing services, government business, ATM services, SMS banking, kiosks, safe deposit lockers and anywhere banking.

As part of the project, the TJSB has upgraded its operational metrics and customer service levels through InfrasoftTech’s OMNIEnterprise, an enterprise banking software solution. The bank has put Rs 4.5 crore in the project. The solution provides the bank with integrated automation of business processes, customer services and on-line bank-wide customer database.

(from R to L)Hanuman Tripathi of InfrasoftTech, R G Karve of TJSB, and Ashok Pamidi of HP, making the core banking project announcement

The TJSB needed to scale up to address the attendant challenges of operating in a competitive business environment. A shift away from the decentralised branch banking approach to a contemporary technology-based core banking solution was called for. R G Karve, CEO, TJSB explained: “This was imperative to cut cost of operations and focus on business development and marketshare enhancement through customer-centric operations at branches and moving all back-office data processing to a common data processing centre. Further, the centralised software had to enable the bank to achieve its goals and automate the process of meeting ever increasing regulatory compliance needs.”

“The HP technology will help the bank to substantially reduce business risk and increase efficiency. The partnership with InfrasoftTech bears testimony to HP’s robust and growing relationship with its partners and alliances in addressing the needs of customers in the co-operative banking space,” said Ashok Pamidi, Director, Commercial Accounts, SMB & Enterprise Partners, Technology Solutions Group, HP India.

The OMNIEnterprise was deployed on HP servers at the data centre. InfrasoftTech implemented the solution at 24 branches and offices across Maharashtra. InfrasoftTech along with the bank’s IT team completed the task of migration of branches by March 2006. Both HP and InfrasoftTech teams have been working cohesively to put in place best practices technology led in business operations of the bank and completing head office customisation.

Hardware infrastructure including networking, servers, storage, support and service had to be part of the elemental mix in sharing up the core banking solution.