India`s premier commercial bank, the State Bank of India (SBI), has awarded a US$17 million contract to Datacraft to develop the second phase of its nationwide corporate network, following the successful implementation of the first phase project. The project is critical to SBI`s transition into a world-class retail bank and is the largest enterprise network roll-out ever undertaken in India.
SBI has made Datacraft India its key systems integration partner with responsibility for the provision, supply and management of its corporate backbone, known as SBI Connect. Over the one-year period starting June 2003, the network will be expanded to provide connectivity for 2 500 more branches of SBI and its seven associate banks across 270 cities throughout India. Under a $18 million contract awarded last year, Datacraft built the first phase of the SBI Connect to link 1 500 branches across 49 Indian cities.
Datacraft successfully completed the rollout of the first phase on time and on budget. This was a key factor in the bank`s decision to again choose Datacraft to supply and implement the second phase.
The Datacraft-designed SBI Connect network, being rolled out in several phases, is part of a $100 million strategic IT initiative undertaken by SBI to transform its technology infrastructure and integrate its entire banking system for efficient growth, greater productivity and improved service levels.
"Landing the second phase contract is the strongest possible reaffirmation of our customer`s confidence in Datacraft`s capabilities and track record in building and managing turnkey banking technology projects," said Ron Cattell, Datacraft Asia`s CEO.
"Working closely with SBI to set a new benchmark in India`s financial industry is a great experience. By creating truly innovative infrastructure, SBI is well placed to respond quickly and intelligently to its customer demands and changing market conditions."
Once completed, the nationwide IT backbone will revolutionise the SBI`s operations, enabling its customers to operate their accounts in all key Indian cities and bank online. The system will support a host of advanced applications like ATM banking, Internet banking, inter-bank electronic funds transfer as well as supporting the bank`s centralised MIS strategy.
The project will span over this and next fiscal year. The project is not expected to have a material financial impact in this fiscal year.
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The State Bank of India is the premier commercial bank of India in terms of turnover, profits, assets, deposits, branches and employees and has over 90 million customers. At 31 March 2001, the bank had total assets of Rs 3156.44 billion (approx US$65.76 billion), total deposits of Rs 2428.28 billion (approx US$50.59 billion). At the core of the bank`s commercial banking business is its nationwide network of more than 9 000 branches at 31 March 2000, by far the largest branch network of any bank in India. More information about State Bank of India can be found on the Web at www.statebankofindia.com.
Datacraft
"Best Asian Systems Integrator" for fifth consecutive year - Telecom Asia
Datacraft Asia is the leading independent IT services company in Asia Pacific. It specialises in providing IT solutions and services that enable businesses to operate seamlessly across Application Networks. Application Networks are the convergence of two previous separate areas of IT: application integration and network infrastructure. The group`s expertise in networking integration, application deployment and global managed services makes it uniquely positioned to deliver the IT solutions that businesses need to connect information, applications, business processes, people and organisations. A member of the worldwide Dimension Data, Datacraft Asia is listed on the main board of the Singapore Exchange and is a component company of the Straits Times Index. Anchored by a distributed headquarters in Hong Kong and Singapore, Datacraft spans more than 50 offices and 1 200 staff in 13 Asia Pacific markets. More information about Datacraft Asia can be found on the Web at www.datacraft-asia.com.
Dimension Data
Dimension Data Holdings plc (LSE: DDT) is a leading global technology company. The group provides solutions and services that optimise and manage the performance of IT infrastructures to enable business to build competitive advantage. To achieve this, the group delivers solutions using its proprietary `Application Network` architectural framework and its expertise in networking, application integration and managed services.
Dimension Data, founded in 1983, had revenues of $2.1 billion in 2002 and operates in 30+ countries with over 9 000 employees.