Bank of Baroda completes technology integration with Vijaya Bank BANK NEWS

The combined technology architecture will help the merged entity seamlessly integrate its India-wide customer service and business operations network of nearly 9,000 bank branches and more than 12,000 ATMs.

 

Bank of Baroda completes technology integration with Vijaya Bank
Bank of Baroda logo (PSU Connect)

 

New Delhi: Bank of Baroda completes the technology integration with former Vijaya Bank’s branches. Currently, the bank has now enabled 21 million Vijaya Bank customers to have access to Bank of Baroda’s banking services.

 

Accenture is now helping align former Dena Bank’s IT systems with Bank of Baroda. This is part of the post-merger integration of the first three-way merger of public sector banks in India. In 2019 the trio of Vijaya Bank, Dena Bank, and Bank of Baroda (Merger of both banks with Bank of Baroda) created the country's third-largest public sector bank.

 

The combined technology architecture will help the merged entity seamlessly integrate its India-wide customer service and business operations network of nearly 9,000 bank branches and more than 12,000 ATMs. “With the completion of the Vijaya Bank migration, around 21 million customers from across 1,900 Vijaya Bank branches have been seamlessly migrated to Bank of Baroda. The migration was executed remotely during the ongoing pandemic with no impact on business continuity,” mentioned in the statement. 

 

Mr. Sharad Saxena Chief Technology Officer of Bank of Baroda said, “Our technology integration goal is to offer uninterrupted customer services while paving the way for the next-generation banking experience across the merged entity.”

 

“Accenture’s role in the consolidation of the technology infrastructure of former Vijaya Bank with that of Bank of Baroda has helped us offer a smooth, hassle-free experience to our customers during the migration. The integrated technology architecture gives former Vijaya Bank customers the ability to opt for Bank of Baroda’s entire suite of offerings while continuing to use their existing payment instruments until further notice,” he added.

 

Stating that technology plays a pivotal role in successful post-merger integration and unlocking value for all stakeholders, Sonali Kulkarni, lead financial services, Accenture in India said “With this collaboration, our objective has been to minimize disruption to the employees and customers across the three banks, while enabling business continuity”.



Posted Date :  19-10-20

Categories : BANK NEWS

Tag Cloud: BANK NEWS

Similar news

IIFL Home Finance expects loan book growth by 18%

Mumbai: IIFL Home Finance, a subsidiary of IIFL Finance Limited which is a NBFC registered with the Reserve Bank of India (RBI), announced their association and signed MoU with Central Bank of India, one of India’s largest commercial bank for LIG* and MIG** Sector lending for home loans. IIFL
Posted Date :  09-06-21

Read more

RBI imposed a penalty aggregating to Rs 6 crore on BoI & PNB

New Delhi: The RBI on Monday imposed a penalty aggregating to Rs 6 crore on Bank of India and Punjab National Bank NSE -2.32 % for contravention of norms, including one related to "Frauds - Classification and Reporting". A penalty of Rs 4 crore has been imposed on the Bank of India and Rs
Posted Date :  07-06-21

Read more

HSBC appoints Hitendra Dave as new CEO for India

New Delhi: Foreign lender HSBC on Monday announced the appointment of bank veteran Hitendra Dave as its new chief executive for India.   Dave, who had been heading the largest profit contributing segment of global banking and markets, succeeds Surendra Rosha, as per an official statement.
Posted Date :  07-06-21

Read more

RBI Monetary Policy Committee keeps Repo rate unchanged at 4%

New Delhi: The Governor of the Reserve Bank of India, Shri Shaktikanta Das has announced that the Policy Repo Rate will remain unchanged at 4% and that the Marginal Standing Facility and Bank Rate will remain at 4.25%.The Reverse Repo Rate too will remain unchanged at 3.35%. He informed that
Posted Date :  05-06-21

Read more