H-P to script IDBI, Bank tech integration

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.

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.

Effective October 1, 2004, IDBI Ltd, the merged entity, will become a deemed banking company as per repeal of the IDBI Act.

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.

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.

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.

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.

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.