Bank of India and Hewlett-Packard announced that the implementation of the Core Banking Solution (CBS) has been completed in 500 BoI branches across India. The implementation in 500 branches has been achieved within 15 months, which, according to a HP statement, makes it the fastest CBS implementation in India.

This project was part of the 10-year outsourcing contract. Under the terms of the contract, HP is to implement and manage a CBS across 750 branches of BoI. The CBS is based on Infosys' Finacle application.

More than 50 per cent of the bank's business is being conducted through this CBS system, covering about 20 million customers and a million transactions a day on an average.

The CBS, coupled with the Multi Branch Banking (MBB), networks 1,200 branches of the bank across 300 cities in the country.

The bank aimed to cover more than 40 million customer records and more than four million transactions a day under the CBS, the statement said.

( www.hindu.com)