Hewlett-Packard (HP), in association with Industrial Development Bank of India (IDBI) and IDBI Bank, will set the roadmap to facilitate technological integration of the merged entity. | |
| H-P will act as a project manger and screen the request for proposals (RFP) of various infrastructure vendors who bid to develop a software solution for development finance institution, said a senior official from IDBI. |
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| This is in keeping with the IDBI chairman and managing director M Damodaran's endeavour to continue to focus on development financing activities even after its transformation into a bank. |
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| Effective October 1, 2004, IDBI Ltd, the merged entity, will become a deemed banking company as per repeal of the IDBI Act. |
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| At present, the bank and the institution is working in close co-ordination to ensure that there's no wastage of resources in addition to this training programmes have also been rolled out to update officials in various technological advancement, said the official. |
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| IDBI is transforming from a decentralised environment to a centralised environment, he added. Post merger, the entity will have to integrate its treasury, retail and lending portfolio in a centralised structure with a single technology platform. |
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| The merged entity aims at creating a dedicated strategic business unit for each business, including developmental financing, retail and commercial banking activities each SBU will have to be integrated on a centralised platform in which technology will play the key role. |
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| IDBI and IDBI Bank have implemented Finacle, the core banking solution of Infosys. IDBI Bank is a tech-savvy bank and has superior technological expertise and the parent can leverage on this expertise, said the official. |
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| IDBI bank outsources its day-to-day operations and facility management to various service providers. Facility management is maintained by ACCEL, ICIM, network management is maintained by Netsol and database management by Clover Technologies. |
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