SBI wins Bankers awards

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Mumbai, July 3 (UNI) The State Bank of India has won two prestigious awards from the London-based magazine 'The Banker', published by the Financial Times.

SBI received the awards for retail core banking and overall retail technology project of the year. SBI, the only Indian bank to get the award, was among 250 entries.

The magazine, in its latest edition, stated that the award was given to SBI in recognition of its gruelling and complex work of upgrading large-scale legacy infrastructure and overhauling outdated platforms. The project the Bank undertook is the single largest Core Banking Implementation in the world and needed elaborate planning, ongoing customisation and continuous learning.

The Bank networked more than 10,000 offices on a new Core Banking Platform and integrated it with all delivery channels and strategic areas. The judges were impressed by the scale and complexity of the project, which demanded perseverance and ingenuity every step of the way.

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