'There is no complete core banking solution'

BANGALORE

JULY 18, 2006

If
somebody says its banking solution is foolproof, Punjab National Bank doesn't
believe so.

KS
Bajwa, CIO of Punjab National Bank told a seminar on IT in Banking, here today
that his bank had faced problems with Finacle, which even the top management of
the Infosys could not solve.

“There
was a problem in the core banking solutions. No body could able to find out the
problem. I even called Nandan Nilekani. Even he was not able to solve the
problem,” he said.

He
said that during that time, the bank had received over two lakh calls at its
customer care center enquiring about the account details.

Since
the problem in core banking solution could not be fixed, the customer care
center was not able to provide satisfactory answers to the customers. “If
somebody says their technology is foolproof, I don't believe so,” said Bajwa.

Incidentally,
Punjab National Bank is one of the earliest banks in India to adopt core banking
solutions.