State Bank of India set out to build the world’s largest homogenous banking network. They found a certain way.
In the wake of the strengthening of the private banking sector in India in 2002, State Bank of India, one of the largest and oldest public sector banks in India felt a dire need to standardize its operations and services into a single, centralized homogenous network. It deployed the core banking solution from TCS BaNCS in 2003, successfully making its foray into real-time banking and bringing with it profitability and customer-centricity through innovative services. The state-of-the-art-IT architecture enabled 24/7, multi-channel, multi-entity and multi-currency banking services. With this flexible, parameterized solution, State Bank of India witnessed revenue growth by 30% with a similar increase in its products per customer spanning 300 million customer accounts and over 70 million transactions per day across 18,400 branches in India.