Uti Bank Plans Tech Spread

UTI Bank Ltd, which has recently implemented Bankaway, an Internet banking application software by Infosys Technologies, plans to extend the software to a slew of functions.

The bank is also in transition from a distributed to a centralised database, underpinned by Infosys's BANCS 2000. This process would be completed by July 2000.

Currently, the Bankaway software is being used to provide customers an access to their accounts through the bank's website www.utibank.com. The application software would now be extended to cover funds transfer, bill payment, and bill presentment facilities. The bank would also be shortly offering e-commerce facilities for businesses and for retail customers.

The bank's existing network infrastructure consists of 64 KBPS leased lines connectivity to 7 large branches and VSAT links to other branches. This is being replaced by a 2MBPS backbone network connecting the centralised data centre to the seven large branches which, in turn, are being linked to other branches by 64 KBPS leased lines. The network architecture provides for adequate redundant paths to take care of link failures. This countrywide network is expected to be in place by June 2000.

The bank's ATM network was successfully tested and integrated with the Mastercard payment systems in October 1999. This enables a Mastercard holder to execute ATM transactions from any of the bank's ATMs across the country.

The ATM switch is configured for accepting Mastercard's debit and credit cards. The ATM switch was also connected to the shared payment network system, SWADHAN, promoted by India Switch Company and Indian Banks' Association (IBA).This enables holders of SWADHAN ATM cards issued by member banks of IBA and UTI Bank's ATM cardholders to transact from any of the 135 ATMs installed in Mumbai.

UTI Bank also has tele-depository services. The demat database was linked to the telephone network by using IVR technology to allow demat accountholders access to their accounts and status of transactions through a dedicated telephone line.