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TCS signs banking project with CUB

By Our Staff Reporter

CHENNAI DEC. 30. Tata Consultancy Services has signed a project with the City Union Bank to implement a banking and market risk solution product — Quartz — for the bank. It is a turnkey assignment wherein TCS will not only supply application software, but also assist the bank in setting up the hardware and system software. TCS will have CMC as its partner for the networking of bank's branches. The technology initiative will involve an investment in excess of Rs. 15 crores for the bank.

Addressing a press conference here today, the Chairman of the Bank, V. Narayanan, said implementation of Quartz would help increase the bank's market share by bringing more corporate customers to its fold. The bank planned to add 30 ATMs in a couple of years and Quartz would make the task easier. The project would enable the bank to implement `any-branch-banking'. The pilot branch was expected to go operational by June 2003. In the first phase, the bank planned to bring 20 branches under the umbrella. The bank planned to complete networking of all branches by the middle of 2005. TCS's core banking solution would significantly improve the bank's customer service and MIS systems.

The Tata Consultancy Services's Chief Executive Officer, S. Ramadorai, said, "we are looking forward to contribute to the growth of the City Union Bank by leveraging TCS experience in working with more than 50 banks in India and aboard, exposure to international banking practices, system integration capabilities and program management of large products.

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