Tata Communications, the leading provider of state-of-the-art infrastructure solutions for the banking and financial sector, today said Dattatraya Maharaja Kalambe Jaoli Sahakari Bank Ltd, (Jaoli Bank), one of the renowned and leading co-operative banks of Maharashtra, has chosen it to implement hosted core banking solution (H-CBS) for the bank.
Jaoli Bank has a network of nine branches and has opened its 10th branch today in Navi Mumbai inaugurated by Hon. Minister Shri Ganesha Naik. Also present were parliamentarian Shri Anandrao Adsul from Amaravati, and Shri Shashikantji Shinde-MLA Jaoli among others.
Jaoli bank has a history of over three decades and is part of the flourishing co-operative movement of Maharashtra. As part of its automation drive, Jaoli Bank has implemented core banking solution in all its 10 branches, which will allow the bank to provide Any Branch Banking Services to its valued customers. The bank is currently using "Hosted Data Centre, Recovery Site & Connectivity among its branches provided by Tata Communications Banking InfraSolutions Ltd (TCBIL).
We are proud to partner Jaoli Bank in their automation drive with our hosted CBS solutions which are specifically tailor-made for smaller banks that have the aspiration of modernizing but face challenges associated with high capital cost for captive CBS. Our solution allows banks to opt for pay-per-branch model, thereby removing the need for investing and maintaining captive IT infrastructure, Rajiv Singh, President, TCBIL said.
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 our customers. India has a large unbanked population and we have an aggressive branch roll out plan and automation would drive us to the next level of growth, Mr. Vithalrao Deshmukh, Chairman, Jaoli Bank, said.
Tata Communications Banking InfraSolutions Ltd (TCBIL) is a BFSI driven newly setup wholly owned subsidiary by Tata Communications Ltd. TCBIL offers packaged banking solutions, referred to as Bank in a Box, like ATM services, card issuance and management, end-to-end POS acquiring, hosted core banking etc. TCBIL is strongly positioned for offering a robust Payment System for managing the dynamically changing expectations of the customers in the banking sector. TCBIL has begun the current financial year with an order book of US $100 million.