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CORE BANKING SOLUTIONS - CBS

Posted by drgorg on January 26, 2010 at 3:18 AM

ग्रामीण बैंकों द्वारा भी इनफ़ोसिस फिनैकल का चयन


Once upon a time, , well not that long ago, just a few years back, say 3- 4 years, the finacle was supposed to be the costiliest and RRBs were going in for lot others, whichever solution deemed fit by their higher ups, like BankMate, Checkmate, some RRBs in southern India even got their own software developed.


Infosys' product division,which sells Finacle banking solutions, has received orders from 20 RegionalRural Banks (RRBs) for implementation of Core Banking Solution (CBS), as per a news report.


Infosys Technologies (Finacle) Head Haragopal M said more orders are likely to come as all the RRBs have to migrate to CBS by September 2011, the deadline set by RBI. Currently, there are 86 RRBs in the country of which 3 banks have already become 100 per cent CBS


Union Bank of India sponsored Rewa Siddhi Gramin Bank & Kashi Gomti Samyut Gramin Bank, and Punjab National Bank sponsored Haryana Gramin Bank are fully CBS. as per the said news report.


Infosys Technologies announced that Finacle from Infosys was named a leader in the January 2009 report, "The Forrester Wave: Global Banking Platforms, Q1 2009". Infosys Finacle scored highest on criteria of current offering as well as corporate and product strategy Forrester selected vendors according to scope, global success, and relevance. These were short-listed through a rigorous multi-criteria selection process that included an in-depth appraisal of their coverage of the Forrester banking functions map, next-generational architecture approach, success in 2007, global delivery capability and mind share among the Forrester client base.


Talking about other solution, direct banking, Haragopal told, the company has signed up two major deals, one in Europe and other one in North America. In this kind of market condition a solution like direct banking is compelling proposition for the advanced market.


We are proud that Fiancle being an Indian Product, wining the tough global competition.


The point here is..what should one chose.? the Best or one of the other better ones.? and how to chose.? and does one have to be told what one needs.? by an outsider.? or does one know what one needs and can chose accordingly.? and does the cost really matters.? specially considering the TOC ( Total ownership Cost) - where one doesnt have to worry about maintenance, and hassle free operations..? or chose the one where one needs to get Specialist all the time to even push a button..?


Your comments are welcome as usual


Have a hassle free time


Till we meet again with a new issue to ponder.

Bye

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1 Comment

Reply V Shiledar
7:11 AM on January 26, 2010 
If 20 RegionalRural Banks (RRBs) choose for implementation of Core Banking Solution (CBS), than why our sponsor Bank has appointed a consultant for CBS?