SBI implements IBM solution
IBM announced the start of implementation of a turnkey solution at State Bank of India (SBI), the largest commercial bank in the country, to create a single information repository for the bank, its foreign offices, associates and subsidiaries.
The new solution aims at enabling SBI to build collaborative information sharing platform (Enterprise Data Warehouse), helping it provide right information to the right people at the right time, thus giving the business an ability to take informed and intelligent decisions across the enterprise.
The new solution will enable the bank staff to concentrate on more valuable tasks such as up-selling and cross-selling, performing more sophisticated analysis and delivering a higher level of customer service. The bank will offer new promotions to customers based on comprehensive, up-to-date customer profiles. With better insight into the unique requirements of each customer, SBI staff will be able to offer timely, customized services to meet those needs.
The turnkey project involves provisioning of hardware required to host the solution, Information Management software required to build necessary applications and reporting, world class services around business intelligence and analytics, as well as helping SBI setup an Information Management competency center.
Krishna Kumar, Deputy Managing Director (Information Technology), SBI said, “Information is undoubtedly crucial in today s intensely competitive scenario. We chose IBM after going through a rigorous tender qualification process, followed by comprehensive evaluation of business (domain), technical, program management and system integration capabilities. The team demonstrated clear understanding of our challenges and addressed the same with specific solutions, which will enable us to transform our business by changing the way we serve our customers.”
In addition, the ’single information repository’ will enable SBI to understand their operational, credit and market risk better. Further, IBM s solution also provides a robust and trustworthy receptacle for regulatory, compliance and government reporting.
Vanitha Narayanan, Managing Partner, Global Business Services (GBS), IBM India and South Asia said, “We have played an active role in the banking industry for many decades. We strongly believe that intelligent information is crucial for SBI to achieve its vision of becoming a ‘Banker to every Indian’.”