Inclusive Banking

DQI Bureau
New Update

Started in 2004, Bank of India finished implementation of CBS in 2009. Unlike

other nationalized banks, BoI has successfully implemented a complete CBS across

all its 3,000 plus branches enabling the bank to provide uninterrupted and

hassle-free services to its customers. The deployment was challenging since the

CBS was implemented connecting remote branches with no electricity supply or any

type of connectivity. The bank had to first create VSAT connectivity and

establish solar driven UPS for proper functioning of the system.


Doing IT Better

As pointed by PA Kalyansundar, GM, IT, Bank of India, "At BoI we always

believe in doing it innovatively so that IT can drive business expansion as per

our plans." With the enterprise CBS the bank has integrated all other

functionalities seamlessly in order to offer customers an ultimate banking

transaction experience. "We have integrated everything including all our

delivery channels into one single database to have a faster and process oriented

service structure," he says. Earlier it was only a brick-and-mortar delivery

channel but now customers are offered world class service through facilities

like Internet banking, mobile and SMS banking and ATM.

BoI has recently implemented web 2.0 for Internet banking. Its feature rich

and interactive website enables complete banking transactions online. Customers

can also give their feedback and lodge complaints online. For internal members

the bank has implemented a unified communication system providing a common

communication platform for all bank employees. "They can now collaborate faster

and jointly look for solutions, come up with new ideas, suggestions or

feedbacks. This is automatically increasing individual performances and rising

efficiency and productivity," says Kalyansundar.

We are now looking to penetrate deep into

remote markets through mobile banking
PA Kalyansundar,

GM, IT, Bank of India

The bank is further expanding its ATM base across the country and by

September it will have 1,500 ATMs.

Financial Inclusion

BoI is going for financial inclusion in a big way. In India an estimated 50% of
the population still doesnt have a bank account, especially in the remote

villages, where only17% of the population is exposed to getting credit. "We are

now looking to penetrate deep into these remote markets through mobile banking

and help these people avail basic banking transaction facilities," informs

Kalyansundar. "Its a big challenge for us and only technology can help us do

this," he adds.

Out of six lakh villages in India, only 50,000 have access to banks. A huge

gap exists and covering it is no easy task since its difficult to open and

sustain a branch in remote locations, it being a costly proposition. It is here

that technology comes to the rescue. The customers will be given a smart card

containing demographic and bio-metric information. The handheld devices will

work in offline modes and at the end of the day the data will be transferred to

the banks data center and will be synchronized automatically with the core

system. "It will thus be a part of our CSR initiative as well as bring in huge

business for us," he concludes.

Piyali Guha