As part of the agreement, IBM will host and manage the IT infrastructure to help the bank focus on its aggressive expansion plans while reducing its huge capital expenditure.
Signed in 3Q 2008, IBM says this agreement is the first of its kind for the company in Rajasthan. The vendor has said that it is focused on the small and medium businesses including those based in small towns like Sirohi, where the bank is headquartered.
Madhav Nagrik Sahakari Bank plans to increase its presence from the existing network of 25 branches in Rajasthan. The bank is interested in offering services like internet banking, mobile banking and ATM facilities to its customers, who are pre-dominantly from semi-urban and rural areas. It is hoped that the end-to-end managed services being provided by IBM will enable the bank to achieve its growth plans while garnering a greater level of trust and satisfaction from its loyal customer base.
"In this age of technology driven banking, even co-operative banks like ours are taking a leap in providing the best of banking experience to our customers," said Mukesh Modi, managing director, Madhav Nagrik Sahakari Bank.