IBM signs outsourcing deal with Rajasthan's co-op bank

IBM today announced that it has signed a five-year IT outsourcing agreement with Madhav Nagrik Sahakari Bank, a leading co-operative bank in Rajasthan.

As part of the agreement, IBM will manage the IT infrastructure for the bank, helping it to focus on its expansion plans while reducing its huge capital expenditure, according to an official spokesman here today.

This agreement is the first of its kind for IBM in Rajasthan. The multinational is focused on small and medium firms, including those in small towns like Sirohi, where the bank is headquartered.

Madhav Nagrik Sahakari Bank Managing Director Mukesh Modi said the bank planned to have more than the 25 branches it has in Rajasthan and it would offer internal banking, mobile banking and ATM facilities to its customers, who are pre-dominantly from semi-urban and rural areas.

"In this age of technology-driven banking, even a co-operative bank like ours is taking a leap in providing the best of banking experience," Modi said, adding that IBM would not only "help us focus more on our aggressive growth plans but ensure more customer satisfaction".

Nipun Mehrotra, Vice-President and General Manager, Global Technology Services, IBM India/South Asia, said: "Our engagement with Madhav Nagrik Sahakari Bank reiterates IBM's commitment to helping organisations looking to grow their business."

"By offering IT services to the bank, we will not only help the bank cut IT expenditure but also ensure it is able to focus on its core business and expansion plans. We will continue to expand our reach and work with more clients like Madhav Bank.