Industry

Bank of Baroda completes technology integration with erstwhile Vijaya Bank

The logo of Bank of Baroda is pictured outside its branch in Mumbai.   | Photo Credit: Reuters

Accenture and Bank of Baroda have announced the successful completion of technology integration of the former Vijaya Bank’s branches with Bank of Baroda which has now enabled 21 million Vijaya Bank customers to have access to Bank of Baroda’s banking services.

This is part of the post-merger integration of the first three-way merger of public sector banks in India.

Accenture is now helping align former Dena Bank’s IT systems with Bank of Baroda.

The merger of Vijaya Bank and Dena Bank with Bank of Baroda in 2019 created the country's third largest public sector bank.

Upon completion, the combined technology architecture will help the merged entity seamlessly integrate its India-wide customer service and business operations network of nearly 9,000 bank branches and more than 12,000 ATMs.

In its role as lead technology partner, Accenture developed the blueprint for consolidating the IT systems of the three banks and is overseeing the execution of the technology integration strategy, which includes data migration, application and data center consolidation, as well as business continuity management, Accenture said in a statement.

“With the completion of the Vijaya Bank migration, around 21 million customers from across 1,900 Vijaya Bank branches have been seamlessly migrated to Bank of Baroda. The migration was executed remotely during the ongoing pandemic with no impact on business continuity,” the statement added.

Sharad Saxena, Chief Technology Officer, Bank of Baroda said, “Our technology integration goal is to offer uninterrupted customer services while paving the way for the next-generation banking experience across the merged entity.”

“Accenture’s role in the consolidation of the technology infrastructure of former Vijaya Bank with that of Bank of Baroda has helped us offer a smooth, hassle-free experience to our customers during the migration. The integrated technology architecture gives former Vijaya Bank customers the ability to opt for Bank of Baroda’s entire suite of offerings, while continuing to use their existing payment instruments until further notice,” he added.

Stating that technically plays a pivotal role in successful post-merger integration and unlocking value for all stakeholders, Sonali Kulkarni, lead financial services, Accenture in India said “With this collaboration, our objective has been to minimize disruption to the employees and customers across the three banks, while enabling business continuity”.

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Printable version | Nov 30, 2020 2:51:39 AM | https://www.thehindu.com/business/Industry/bank-of-baroda-completes-technology-integration-with-erstwhile-vijaya-bank/article32891948.ece

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