OBC PLANS TO UPGRADE SYSTEMS TO GTB'S
LEVEL
Merging the operations of a new-age private sector bank with
that of an old public sector undertaking is similar to retrofitting
a taxi with spares retrieved from a Ferrari. Oriental Bank
of Commerce, however, has a game plan whereby its own systems
will be raised to that of the level of the failed Global Trust
Bank.
One
advantage for OBC is that it has embarked on implementing
Infosys' Finacle, the same core banking solution that is used
by GTB. According to BD Narang, chairman, OBC, GTB's technology
is far more advanced than that of his own bank and his objective
will be to raise the systems of OBC to that of the private
bank.
OBC's
plan is to go in for forward integration; that is bringing
its own branches in line with the technology of GTB rather
than go backward. But this will require OBC to address the
issue of varying level of technology skills between the employees
of the two banks.
OBC
has just completed the first stage of IT which is branch computerisation
by computerising most of its 950-odd branches. The bank has
signed a deal with Infosys' to install Finacle as the core
banking solution and Wipro as the additional systems integrator
for its networking project.
Over
the next year the bank expects about 225 branches to go online.
The next step would be the networking of these branches. GTB
is already way ahead and it offers customers any-branch anytime
banking.
There
are other differences as well. GTB's partner for its debit
card is Visa, which has enabled the bank to issue its Proton
international debit cards. OBC on the other hand has partnered
Mastercard for its pre-paid card.
There
is also a difference in the delivery channels that the two
banks use. In addition to ATMs, customers can access their
accounts through Internet, telephone or even through cell
phone, SMS messages. Oriental Bank of Commerce customers access
the bank largely through its branches and automated teller
machines.
