New Delhi, Oct 15 (UNI) Public sector bank Union Bank of India today said it has tied up with IBM India for implementing infrastructure and technology services.
Under the agreement, IBM will provide the technical support to the bank.
It will put in place the server and storage system infrastructure with a focus to centralise Union Bank's branches network across India, including those in rural areas.
The tie-up will bring Union Bank's 2,274 branches and 135 extension counters under a common IT framework while simultaneously enabling a higher number of transactions, thereby reducing costs and allowing the Bank to respond better and faster to customer demand.
Besides, IBM's Global Technology Solutions will also provide Union Bank with superior disaster recovery and business continuity capabilities - a must-have in the financial services sector.
Union Bank of India Chairman and Managing Director M V Nair said, ''To meet our growth objectives we needed to move to a centralised environment where economies of scale, consistency and firm-wide synchronisation of data will bring significant benefits.'' UNI