IBM implements core solution

Technology provider, IBM has deployed its core banking solution across 3 057 locations of Canara Bank in India, according to Silicon India.

Canara Bank had engaged IBM in August 2005 to implement the centralised banking solution consulting of constituting of a suite of 14 satellite applications centred on the core banking solution.

IBM says it has enabled the bank set up and managing the data centre and disaster recovery infrastructure, establishing the local area network in over 1 000 branches, monitoring the wide area network of the bank, and managing business continuity services to be able to seamlessly switch from the data centre to disaster recovery mode.

In its initial stages, mobile banking in Pakistan has gained tremendous popularity among customers with rapid pace as colossal amount of 10 billion rupees was transacted through a single cellular operator in a year, writes the Daily Times.

Telenor Pakistan, the subsidiary of Norwegian telecom giant, with its various m-banking services recorded over six million transaction carried under its brand 'EasyPaisa' (easy money) by the end of first year.

Information obtained from the cellular phone company sources revealed the number of carried transactions has been increasing over a period of time that has reached one million rupees in a single month with transacted amount crossed two billion-rupee benchmark.

Tyfone, a provider of mobile banking, says Orange County's Credit Union (OCCU) has made mobile banking available to its 79,000 members using Tyfone's u4ia platform reports Kansas City.

OCCU leveraged Tyfone's services to deploy robust mobile banking services initially, with NFC contactless mobile payment capabilities under consideration. “Mobile is one of the service delivery platforms of the future, and Tyfone made it easy for OCCU to deliver mobile banking today,” said OCCU senior vice president and CIO Laura Thompson.

“As OCCU looks to the future, we see mobile banking as a mission critical component of our service delivery strategy. Tyfone's mobile banking platform allows OCCU members to have access to account information from the widest variety of mobile and online interfaces, making OCCU a truly accessible financial institution.”