Mumbai: Information technology services provider HCL Technologies said it will implement an integrated enterprise-wide IT solution for SIDBI, which will increase the bank’s efficiency and reduce response time.
“HCL is pleased to partner with SIDBI for their business process re-engineering and automation initiative, which will significantly enhance their agility for their customers - the fast growing SME sector,” HCL Technologies country manager (India and Middle East) Kiran Bhagwanani said.
The project would be implemented in a period of 15 months and the company would support the solution at Small Industries Development Bank of India (SIDBI) for a period of five years thereafter.
HCL Technologies and SIDBI have entered into an agreement to this effect to better serve the bank’s small and medium enterprises (SME) customers, HCL Technologies said in a communique to the BSE.
“This engagement will leverage HCL’s strong credentials in transformational, multi-service deals and our experience in the financial services sector in India,” Bhagwanani added.
The application software products would include core banking, data warehousing, loan automation, document management aimed towards enabling SIDBI to reduce time to market, increase efficiencies, control exposures and risks.