Dimension Data subsidiary Datacraft Asia has won a $17 million contract to develop the second phase of the State Bank of India (SBI`s) nationwide corporate network.
Datacraft India was awarded the deal after the completion of the first phase of the project, which is part of a strategic IT initiative by the bank that also encompasses new systems for core banking, Internet banking, asset management, treasury operations and trade finance.
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.
In the year beginning next month, the network is to be expanded to provide connectivity for 2 500 more branches of SBI and its seven associate banks across 270 cities throughout India.
Under a US$18 million contract awarded last year, Datacraft built the first phase to link 1 500 branches across 49 Indian cities.
Once completed, the IT backbone will enable SBI`s 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.
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