Bangalore, India, September 21, 2011 --(PR.com
)-- IndusInd Bank today announced the selection of iCreate’sBiz$core Business Intelligence (BI) solution as a key component of their enterprise Business Intelligence strategy. With Biz$core’s Enterprise BI solution, IndusInd Bank can now benefit from a fully functional BI solution with advanced coverage of all Business Units as well as manage Regulatory Reporting.
IndusInd Bank made this choice for establishing a robust information management ecosystem with a quick implementation at a low total cost of ownership. The Bank has sought an Enterprise BI solution that would dovetail seamlessly with all transactional systems and provide a single view of business critical insights. Further, an Enterprise BI solution helps to analyze organizational data to measure and track business performance, improve operational efficiencies as well as support business strategy. The implementation of iCreate’s Biz$core Business Intelligence solution will also help the Bank in addressing RBI’s recent Automated Data Flow compliance.
Speaking on the occasion, Mr. Paul Abraham, Chief Operating Officer, IndusInd Bank, said, “We were looking for a technology partner who could bring a banking-specific enterprise BI solution to the table to manage informational needs of the Bank effectively – both on the business side as well as the compliance side. This tie-up will assist the Bank in providing a single platform that can now be used for all our enterprise BI requirements.”
Mr. Vivek Subramanyam, CEO, iCreate added, “We are delighted to partner with an innovative bank like IndusInd Bank in their BI and Analytics journey. I am confident that Biz$core will not only help them in their BI journey but also help them gain a competitive advantage.”
About IndusInd Bank
IndusInd Bank, which commenced its operations in 1994, caters to the needs of both consumer and corporate customers. It has a robust technology platform supporting multi-channel delivery capabilities. IndusInd Bank has 326 branches, 633 ATMs spread across 225 geographic locations of the country as of June 30, 2011. The Bank also has 2 Representative offices, one each in London and Dubai.
The Bank believes in driving its business through technology. It has multi-lateral tie-ups with other banks providing access to their ATMs for its customers. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and three major commodity exchanges in the country - MCX, NCDEX, and NMCE. It also offers DP facilities for stock and commodity segments. The Bank has been bestowed with the mandate of being a Settlement Banker for six tea auction centres.
Recently, CRISIL has reaffirmed its P1+ rating of IndusInd Bank's fixed deposits and certificates of deposit program. The credit rating agency ICRA Ltd. has upgraded Lower Tier II Bonds rating of the Bank to [ICRA]AA (pronounced ICRA double A) with stable outlook from [ICRA]AA- (pronounced as ICRA double A minus). ICRA has also upgraded the rating assigned to Bank’s Upper Tier II Bonds to [ICRA] AA- (pronounced ICRA double A minus) with stable outlook from [ICRA]A+ (pronounced as ICRA A plus). CARE has upgraded the Bank’s Lower Tier II Bonds rating to CARE AA from CARE AA-.
About iCreate and Biz$core
iCreate is a 'BI for Banking' specialist headquartered in Bangalore, India, with an established presence in Africa, Asia-Pacific, Middle East and Europe. Biz$core is iCreate's unique, integrated BI, Analytics and Performance Management solution, that integrates with standard banking systems to ensure banks have a fully functional BI solution running in as little as 100 days, at the lowest TCO and with advanced solutions in areas such as Retail, Corporate Banking, Analytics 360, etc. iCreate is a winner of several premier industry recognitions: including the Red Herring Asia 100, Deloitte Technology Fast 500 Asia and the NASSCOM Emerge 50; an endorsement of its unique ‘Banking-specific Business Intelligence’ proposition.
For more details on this release, please contact:
IndusInd Bank Ltd.
Priya Wilson /Aarti Bhatt
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