Syndicate Bank, i-flex win core banking award

Bangalore, Mar 27: Syndicate Bank and i-flex solutions have won the Asian Banker IT Implementation Award 2006 for the best Core Banking Project Award for Large Banks.

The awards were presented at a glittering function at The Asian Banker Summit 2007, held in Jakarta yesterday.

According to a release by Asian Banker, Syndicate Bank and i-flex's core banking implementation was recognised that their consistent effort over last few years had borne fruit, as they have successfully implemented a turnkey project that covered a breadth of applications.

According to the submission, the bank had covered considerable ground, managing to bring more than 1,200 of its branches under the technologically advanced new generation core banking system since the project began.

The citation said ''We took note of their success over the last year in bringing more than 815 of these branches into this new generation system, which included 334 branches in rural areas with very limited infrastructure facilities. The project has also enabled the bank to double its number of ATM and internet users.'' It said ''there is a likelihood that this new generation banking system and the enhanced services through improved delivery channels will not only provide significantly improved customer satisfaction, but also establish an enterprise-wide view of customers for the bank and help it offer a range of value-added services. We believe that this project has the potential to form a strong foundation for the future growth of the bank and give it a competitive boost.'' Among the other award winners were - SBI (India) (Implementation at Foreign Offices) and Infosys which received letter of commendation. Centurion Bank of Punjab and Infosys won the Best Core Banking Project Award for mid-sized banks.

The inaugural Asian Banker IT Implementation Awards programme was launched this year to discover the emerging best practices for IT in the financial services industry and identify the benchmarks that senior operations and technology heads could use in their projects.

UNI