Happy moments for IT vendors

Core Banking Solutions:
LSI - Laser Soft Infosystem - a chennai based banking software products firm, has implemented its ‘Panacea Core Banking System' in over 350 branches of the state-owned Corporation Bank. The core banking system was implemented at a cost of $9,114 per branch. This solution covers all areas retail banking, trade finance and corporate banking.

Corporation Bank lost lot of steam in lst two quarters and hope to get leverage out of this IT initative. It's observed that, bank's operating margin, cost of operation are lowered but again transfer of Mr. Cherian Vergese from Corporataion bank to Union Bank of India is playing vital role in bank's success to be a second largest bank.

Outsourcing

Yes Bank has signed a seven-year outsourcing agreement with Wipro Infotech. The bank hopes to save up to 30 percent through the arrangement. Wipro Infotech will undertake Yes Bank's entire technology requirement for its offices, branches nationwide and data centres on a build-own-operate basis. The bank plans to roll out nearly 400 new branches in the next seven years.

Wipro is entering into new territory of opportunities in outsouring market of banking and financial vertical market place. Stregnth of WIPRO many years of org. learning for dealing with financial institutations and time to makret is right to capatilse these learnings. However, WIPRO is bound block his horns with big bulls of IT Space i.e. HP and IBM who are mastered in capturing large ticket size of outsourcing deal in India and globla level.

WIPRO need to learn from 2nd layer of outsourcing players like EDS, Accenture on managing their operations but, it can excel over this 2nd layers players becuase of distinct advantage of being truely professional and process oriented organisation. such as the other players. In wake of RIL contraversy, IT decision makers are wary of stability in group, WIPRO's corporate governance and process orientation has feched many more wins against big boys of IT in past and coporate world look forward to such metrics for awarding the contracts.

Mobile Banking (Marriage of Bank and Telecom Vendor - is India Listening)
China Construction Bank (CCB) and China United Telecommunications Corporation (China Unicom) have launched a joint mobile banking service based on China Unicom's CDMA 1X network and CCB's electronic banking system.

China Unicom subscribers with CCB accounts will be able to check accounts, transfer or remit funds via their mobile phones.

Mobile E-Purse:
(Jamboorie for customer of Bank-Telecome Vendor and Retailer):

Sumitomo Mitsui Banking Corp. will launch a service, in April 2005, enabling individual account holders to directly transfer money to their mobile phones for use in the Edy electronic-money service operated by Bitwallet Inc. Customers needs to be the bank's Internet banking service user and have a handset with the FeliCa non-contact IC chip for NTT DoCoMo Inc.'s (9437) mobile phone services.