InfrasoftTech Bags TANCUBFED Core Banking Contract Account

InfrasoftTech, a leading technology enabler specializing in digital solutions for the banking and financial services sector with over 450 clients in 36 countries, has been recently awarded a contract by Tamil Nadu State Federation of Urban Cooperative Banks (TANCUBFED) for implementing Core Banking Solution and other e-banking services in 128 Urban Co-operative Banks in Tamil Nadu.

On the occasion, Rajesh Mirjankar, CEO & Managing Director, InfrasoftTech, said “We are proud to be associated with TANCUBFED. This is a first of its kind project in India for Urban Co-operative Banks wherein banks across the entire state of Tamil Nadu will be operating on a single core hosted platform. This automation project will enable the banks to leverage the power of Private Cloud infrastructure to provide seamless digital transformation of operations, transaction management, improvement in customer service and efficient reporting to internal and regulatory authorities. This provides the banks a competitive edge over offerings and capabilities of commercial banks. ”

The automation process will be executed by implementing InfrasoftTech’s OMNIEnterprise Core Banking Solution. The OMNIEnterprise Core Banking Solution effectively supports the entire business operations of a bank – from the front office through operational workflow, the back-office and accounting. OMNIEnterprise Core Banking Solution is an enterprise solution that enables a bank to have a single view of its customer, offer service delivery through digital banking channels and quickly respond to customer and market demand while managing risks and regulatory compliance.

Yogesh Paralkar, Head of Sales for India, stated “This is a historic moment for InfrasoftTech which re-emphasizes our market leadership position in Core Banking in the co-operative banking segment. We would like to thank TANCUBFED and the Banks for this opportunity. We appreciate their vision to choose ‘Application Service Provider’ model for this project. As their technology partner we will ensure that the project meets all success parameters for application, infrastructure, capacity building and networking.