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IBM To Run Equitas’ Core Banking ApplicationPosted Monday, December 14, 2009 By ITVN NetworkADVERTISEMENT
Equitas Microfinance India Pvt Ltd., micro finance organization, has selected IBMs robust hardware platform to run its mission critical core banking application, Temenos. After careful evaluation, Equitas chose to implement IBMs Power platform and storage over HP and EMC. Established in December 2007, Equitas Micro Finance India plans to add a high volume of customers to its existing 700,000+, and operates out of 150 branches in the states of Tamil Nadu, Andhra Pradesh and Maharashtra. Equitas also recently announced expansion plans in Tamil Nadu and Maharashtra. Due to its aggressive expansion plans, Equitas selected Temenos for Microfinance and Community Banking (T24 for MCB) to support and automate its operations from in a single platform. The application will also help to rapidly define new products and dramatically reduce the time to market. Equitas was looking for a robust, scalable, cost-efficient Infrastructure to run T24. IBM secured the deal after demonstrating the value proposition on total cost of operation, clear strategy and risk management capabilities, technical capabilities, and an assured roadmap for scalability. The IBM solution helps simplify the client's environment without sacrificing performance or availability and improves service time to Equitas customers. In addition, the solution ensures both primary and disaster recovery for business continuity. Customer-led product and services development, adaptation and innovation are the guiding principles for Equitas, said Mr.H.Mahalingam, CTO Equitas Microfinance India. Keeping this in mind, we independently evaluated IBM hardware alongside competitive platforms to run our core banking application. The value proposition of IBMs overall solution was unmatched. IBM is happy to engage with Equitas in their vision of being the leader in Microfinance in the country, said Ajay Mittal, VP, General Business, Systems and Technology Group, IBM India/ South Asia. This win reinforces our leadership as the IT infrastructure platform vendor of choice for mid-sized organizations who are focused on cost-efficiency without compromising on performance. Comment & Contribute
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