Oracle Real Application Clusters Enables Substantial Business Efficiency In Syndicate Bank

Enhanced services reaches out to 19 million customers

BANGALORE, India, April 13, 2008: Oracle announced that Syndicate Bank has implemented I-flex’s FLEXCUBE on Oracle Real Application Clusters across the Bank’s 1700 branches as of January 2008 impacting 19 million customers. Deployed on Oracle Database and Oracle Real Application Clusters, the core banking solution has improved the bank’s business efficiency substantially. The centralized banking solution has enabled the bank to provide on-line, real-time banking across branches with seamless integration of delivery channels like ATM, tele-banking, Internet Banking and RTGS (Real Time Gross Settlement) among other customer services.

As part of the transformation, Oracle provided a comprehensive IT infrastructure, complete with mission-critical applications and integration services to Syndicate Bank. In addition, the Oracle based solution has offered the bank the ability to launch new products more quickly, in response to customer requirements and also to improve the banks profitability and staff productivity. Syndicate Bank is among the first public sector banks in the country to pioneer the adoption of centralized banking. Syndicate Bank has a network of 2144 branches across the country.

“Oracle Database and Oracle Real Application Clusters have helped streamline and improve efficiencies of the bank’s operations,” said Mr. C.M. Raman, General Manager of Information Technology, Syndicate Bank. “Before we implemented this IT architecture, our managers often had to wait for a month to receive critical reports. But now, managers are able to access reports daily, thus expediting the decision-making process. This has enhanced the responsiveness and efficiency across the business. The clustered database environment has helped optimize maximum data availability at reduced costs. Not only this, Syndicate Bank achieved a record last year when 101 branches went live on a single day.”

Oracle Real Application Clusters, one of the building blocks for grid computing, supports the deployment of a single database across a cluster of servers. Oracle Database clusters run applications faster than the fastest mainframe.

“Syndicate Bank pioneered the adoption of innovative IT solutions among Public Sector Banks in India”, said Mr. SPS Grover, Vice-President, Technology Sales, Oracle India. “Given today’s competitive environment, with specialized banking services and banking options as well as more demanding customer behaviour, it has become necessary for banks to adopt IT more innovatively to improve operational effectiveness of their corporate assets. We are delighted to have been able to work with Syndicate Bank to help them achieve their business objectives through innovative and effective adoption of IT.”

About Syndicate Bank

Syndicate Bank was the first Public Sector Bank to implement Core Banking Solution (CBS) way back in the year 2001. After the system got stabilized, the Bank accelerated the pace of implementation and as at the end of January 2008, the number of branches on CBS net work is over 1700. This number would go up to 1800 by this March end. The business covered under CBS is about 94%.

The Bank has been in the fore-front of technology implementation and has been recognized nationally and globally with the following awards:

* IDRBT Award for Best use of IT for: Customer Service in Semi-Urban and Rural Areas
* Asian Banker IT Implementation Award for: The Best Core Banking Project Award for Large Banks in Asia Pacific Region

Syndicate Bank is in the league of large Public Sector Banks in India. For more information about Syndicate Bank, please visit website at www.syndicatebank.in.

About Oracle India

Oracle entered India in 1987 and set up an India Development Centre in 1994. Today, Oracle has two India Development Centers as well as Indian hubs for Oracle’s global support, consulting and financial services operations. Through its offices in India, and an extensive network of more than 436 channel and alliance partners under the Oracle PartnerNetwork, Oracle India markets the complete range of Oracle products and services across India. Oracle India has more than 6,700 customers in the telecommunications, banking, insurance, manufacturing and utilities industries, across the government and private sector. Oracle India is a major partner for E-Governance initiatives of Central and State Government bodies in India. The Oracle-HP E-Governance Centre of Excellence is located at Oracle India’s head office in Gurgaon, near New Delhi. Oracle also has a Retail Centre of Excellence in Bangalore.