Tata Consultancy Services Ltd on Thursday said it has acquired Sydney-based Financial Network Services, a core banking solutions vendor for $26 million.
'When global politics has some intervention on the core software one uses, and if you are cut off from your own data in critical workflows, sovereignty is no longer optional. It becomes a necessity.'
India Post may be keen to apply for payment bank licence.
i-flex solutions on Tuesday said the Brazilian cooperative credit system, Sicredi, has selected its products -- Flexcube and Reveleus TM -- as a key part of its business and technology transformation programme.
Police FIR reveals the bank had replaced 44 loan accounts of HDIL with 21,049 fictitious loan accounts. These 21,049 were actually not created in the core banking solution of the bank, but were mere entities in the advances master indent submitted to RBI for conducting its inspection for the year ended March 2018.
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
'Instead of the government and telecom operators solving the mess of their own creation, they're telling us we need to give access to our phones perpetually.'
IT solutions provider i-Flex solutions on Monday announced that its flagship product, flexcube has been ranked the world's number one core banking solution for 2004 by International Banking Systems, UK in its annual sales league table for the third c
'...the electoral playing field is tilted significantly in its favour.'
Infosys is all set to aggressively market its core banking solution product Finacle to mature banking markets in the US, Europe and Australia.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
'Employers increasingly want candidates who can take AI pilots from proof-of-concept to production-ready systems.' 'That requires governance, monitoring, and ROI measurement -- skills that go beyond coding and into business impact.'
For Lori Beer, chief information officer, JPMorgan Chase & Co, largest banker in the US, India is a big part of the organisation's global technology footprint and is core to its products and services. This is evident from the fact that in less than two months since JPMorgan & Chase chief executive officer Jamie Dimon visited India, Beer has come here to see the recently opened centres in Mumbai and Bengaluru. "What is different for me this year are our new centres and to be able to come and see the vibrancy, and connectedness is great.
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.
The Dubai Centre, which earlier supported the capital market customers, is now geared to provide on-call services and any emergency support needed in the region to its core banking customers as well, a company statement said.
In March 2021, Ola Electric founder Bhavish Aggarwal was seen surveying an empty 500-acre land surrounded by shoe factories, temples, bakery shops, coconut trees and dusty roads in Pochampalli town of Krishnagiri district, Tamil Nadu. Many excavators and workers were busy at the construction site to build the Ola Futurefactory for electric vehicles.
This innovation has made mainframes the fastest-growing segment within IBM's Infrastructure business, demonstrating that even legacy technologies can continue to deliver value.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The size of the banking software application market globally is estimated to be at about $75 billion in 2007. The market is growing at about 5 per cent a year.
Customers will not be charged for ATM withdrawals from April 1, Reserve Bank of India deputy governor V Leeladhar announced in Mumbai on Monday.
Banks levy a fee on transactions under core banking solutions.
The officers of the country' largest lender the State Bank of India have decided to go on a two-day nationwide strike from April 8 to press for hiring officers and revising pay scales.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
Adani Ports and JSW Infrastructure, India's leading private port operators, are expanding their logistics services to capture extra cargo while they run integrated transport services. "With incrementally less availability of lucrative port assets that can drive cargo volumes, port operators have naturally shifted their focus on deriving value in the upstream integration, i.e., the logistics space.
i-flex Solutions on Thursday signed an agreement with Abu Dhabi Commercial Bank for implementing FLEXCUBE core banking system.
Employees across segments, including those involved in specialised jobs such as technology, compliance and risk management, have started leaving the bank fold in hordes, observes Tamal Bandyopadhyay.
After launching the ATM service at Thiyagaraya Nagar Head Post Office, Chidambaram said that Rs 4,909 crore had been allocated for the IT modernisation of Department of Posts in the interim budget for 2014-15.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
Bank provides for Rs 7,178 crore, or 50 pf of the total amount of the Rs 14,356 crore scam, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.
The DoP has moved a Cabinet note for the government to provide Rs 500 crore (Rs 5 billion) as initial capital to India Post towards starting a bank.
Between March 2022 and September 2023, HDFC Bank added 56,310 employees.
200 staffers, consisting of RBI officials and support teams, who are essential to perform critical functions, were isolated at a separate facility in a dedicated quarantined environment near all three RBI data centres.
Policyholders would be given an option to check whether any amount is lying due with insurance firms
Bandhan expects to commence banking operations in 2015, by opening nearly 600 branches targeting 10 million customers.
'It is the responsibility of industry to take the very bright talent whose knowledge of software engineering basics is very high, and then give them additional skills.'
