Bank of Maharashtra,TCS to execute Core Banking Solution

Bank of Maharashtra (BoM), a leading nationalized bank in
the western region, has signed a contract with Tata Consultancy Services (TCS),
the world-leading technology services and consulting company, to implement a
core banking solution.

The core banking solution used will be BANCS from
Sydney-based Financial Network Solutions (FNS), a 100 percent subsidiary of TCS.
In addition, other TCS products like e-Treasury (integrated treasury solution),
finDNA (anti-money laundering), Almity (asset-liability management) and
eBankworks (for channel banking through Internet, Mobile and SMS)

The solution also includes China Systems' Eximbills for
trade finance as well as hardware from IBM and Networking from Bharti
Televentures.

TCS will be responsible for the end-to-end system
integration, including redesigning and deploying a bank-wide corporate network. 
TCS will also set up and maintain the data center, and provide facilities
management services to the bank over the next six years. The scope of the entire
project covers over 600 branches, including the retail, corporate, trade
finance, treasury and delivery channels for internet banking, phone banking and
mobile banking (SMS and WAP).

The entire solution will be customized by TCS to the Bank
deliver 24X7 banking to its customers through multiple channels like ATMs,
Internet and mobiles on 'on-line-real-time' basis, enable faster launch of
new products and better relationship management.

TCS will adopt it Ready-to-Deploy Core Banking Solution
Implementation Model developed at the TCS Core Banking Solution Centre of
Excellence.

Reiterating the strategic nature of the initiative, SC Basu,
Chairman and MD, Bank of Maharashtra, said, “Known as the common man's bank,
Bank of Maharashtra has one of the largest branch networks among any public
sector bank in Maharashtra. As a part of our growth strategy, we have aggressive
plans including expanding operations in the North, South and Eastern parts of
the country as also introducing exciting services for our customers.”

Commenting on the win, S Ramadorai, CEO and MD, TCS, said,
“Bank of Maharashtra is embarking on a significant IT initiative to face
emerging business challenges. We are pleased to partner with them in their
efforts to leverage technology to build enhanced customer interfaces and better
relationship management.”

DQW News Bureau Mumbai, April 12