IBM Signs IT Outsourcing Agreement With Madhav Nagrik Sahakari Bank

IBM has signed a five-year IT outsourcing agreement with Madhav Nagrik Sahakari Bank, a co-operative bank based in Rajasthan. As part of the agreement, IBM will host and manage the IT infrastructure for the bank helping the bank to focus on its expansion plans while reducing its capital expenditure. Signed in 3Q 2008, this agreement is the first of its kind for IBM in Rajasthan. IBM is focused on small and medium businesses including those based in small towns like Sirohi, where the bank is headquartered.

Madhav Nagrik Sahakari Bank plans to increase its presence from the existing network of 25 branches in Rajasthan. The bank also offers services like Internet banking, mobile banking and ATM facilities to its customers, who are pre-dominantly from semi-urban and rural areas. The end-to-end managed services being provided by IBM will enable the bank to achieve its growth plans while garnering a greater level of satisfaction from its customer base.

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“In this age of technology-driven banking, even co-operative banks like ours are taking a leap in providing the best of banking experience to customers,” said Mukesh Modi, managing director, Madhav Nagrik Sahakari Bank.

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, who are looking to grow their business. By offering our IT services to the bank, we will not only help them cut their IT expenditure but also ensure they are able to focus on their core business and expansion plans. We will continue to expand our geographical reach and work with more clients like Madhav Bank.”

This agreement with IBM also helps the bank overcome a key challenge of getting high-quality IT experts in small towns like Sirohi, which has a population of about 55,000. With IBM hosting the bank’s entire IT infrastructure from its own data centres, the bank will be able to leverage expertise that serves IBM’s larger enterprises and global clients.