BANKS
Union Bank of India integrates branches of Corporation Bank
The next phase will see the migration of all branches of e-Andhra Bank to Finacle 10 in the current financial year.
The next phase will see the migration of all branches of e-Andhra Bank to Finacle 10 in the current financial year.
State-owned Union Bank of India, which has amalgamated Andhra Bank and Corporation Bank, has integrated the information technology (IT) architecture of all the branches of erstwhile Corporation Bank with itself. This includes the service and specialised branches of Corporation Bank.
The next phase will see the migration of all branches of e-Andhra Bank to Finacle 10 in the current financial year.
Union Bank of India is the anchor bank for the other two banks - Andhra Bank and Corporation Bank - which have been amalgamated with itself.
All customers of erstwhile Corporation Bank have been successfully migrated to CBS of Union Bank of India in record time, the bank said in a statement. "Along with this feat, the bank has successfully rolled out Internet Banking, Mobile Banking, UPI, IMPS, FI Gateway, Treasury and Swift for erstwhile Corp Bank customers thereby enabling them to transact seamlessly across branches and delivery channels of UBI."
Earlier, the bank migrated ATM Switch and ATM terminals smoothly into the UBI network. "The entire migration has been completed at record time with least inconvenience to customers, i.e. without effecting any change in their account numbers, debit cards or net banking credentials," the statement said.
The entire migration has been executed in association with Infosys, EY and BCG.
The bank has already accomplished administrative amalgamation process with roll out of new organisation structure, harmonized products and processes.
Said Union Bank of India managing director and CEO Rajkiran Rai G, "We are extremely delighted to achieve complete integration of all e-CB branches, and delivery channels. It opens huge opportunity for our customers and enhances our capability to offer innovative products and services."
Rai also added that as per plan, in next phase, all branches of e-Andhra Bank shall also migrate to Finacle 10 well within the current fiscal.