Syndicate Bank's Stride into Core Banking - 550 Branches Connected

"The biggest boon of IT to the banking sector has been the core banking facility. Taking full advantage of this facility Syndicate bank plunged into Core Banking Solution (CBS) way back in the year 2001. Already 450 branches have been connected with core banking. Shortly this number will go upto 550 as we are planning to spread this network to the rural branches also, so that the customers in the rural area may avail the benefits," said Syndicated bank managing director Prakash P Malya.

He was speaking after inaugurating the 'Syndicat - E - Banking' facility in the Bejai branch here on Friday March 3.

He also said that at present the Syndicate bank has 380 ATMs and their number will be increased to 500 shortly. He further said that Syndicate bank is pioneering Business Process Outsourcing (BPO) in the banking sector. "We have availed all necessary permissions from the union government and the Reserve Bank. The first ever BPO of the banking sector in the country will be started at Manipal by the end of this month," he announced amidst loud applause from the gathered.

Sarala B Kanchan, president of the Karnataka State Women's Cooperative Federation and D N Kamat, Syndicate bank general manager were the chief guests of the programme.

Bank PRO Manohar K, Goa zone chief manager K T Rai, Mangalore regional branch DGM K U Shanbhog were also present on the occasion.