BoB appoints HP to implement IT modernisation

The country's third-largest lender Bank of Baroda (BoB) today said that it has appointed Hewlett Packard (HP) to implement its IT modernisation initiative.

As a part of the initiative, the state-owned BoB is looking to improve time-to-market, streamline business operations and better leverage customer intelligence to provide customised services, a statement issued by HP from Bangalore said.

BoB has had a long-standing relationship with HP for its IT needs and HP has been serving the bank for five years, it added.

HP will provide application modernisation services and business intelligence to support new business services while its consulting services will map datacenter transformation and work on utilising HP Converged Infrastructure.

This would include server, storage and networking, supported by HP Mission Critical Support, the statement added.

The new phase of banking transformation being undertaken by BoB will allow it to extend growth into new and existing markets, the bank's Chairman and Managing Director M D Mallya said.

"Technology is an integral part of this transformation providing us the agility to address changing market dynamics," he said.

HP will also be developing a new mobile banking solution platform for the bank, the release said.