Canara bank deploys 'Flexcube' across 1000 branches

By SiliconIndia   |   Tuesday, 29 July 2008, 10:44 Hrs
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Bangalore: Oracle owned i-flex, a provider of IT solutions, has expanded its solution, 'Flexcube' to 1000 branches of Canara Bank. i-flex has been providing Flexcube, a major core banking solution to Canara Bank in association with IBM.

The 1000th branch to go live with core banking solution was the Karaikudi branch, in Tamil Nadu. With the launch of the core banking solution at Karaikudi, 75 percent of Canara Bank’s retail and corporate business will now be handled by Oracle's Flexcube.

The core banking roll out at Canara Bank is among the largest implementations based on a centralized architecture and involves all modules of Oracle's Flexcube,, including agricultural loans, foreign exchange and service branch functionality.

It is expected that over 22 million customers including those for loans, deposits and cards and over 30,000 employees will benefit from the IT initiatives of the bank. Apart from that the system will enable efficient and personalized customer service, 24x7 banking through multiple delivery channels, faster time-to-market and superior relationship management at the bank. Customers can transact by walking into any of the 1000 Core Banking branches, by accessing their accounts through the Internet or mobile and through 2000 ATMs or through the use of interactive voice response systems. It will allow customers to transfer funds electronically, make on-line railway reservations and make payments of direct taxes, excise and customs duty.

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