Polaris Software unit Laser Soft has bagged a contract with Andhra Pradesh State Cooperative Bank (APCOB) to implement a core banking system across 569 branches.
The deal covers APCOB's 22 District Central Cooperative banks (DCCBs) across the state. The Intellect system will be deployed in Hyderabad by the end of the year, covering 569 branches and 22 head offices.
Polaris says the Intellect platform provides APCOB with a centralised system that still lets the DCCBs work as independent units and integrate their operations with thousands of primary agricultural credit Cooperative societies in Andhra Pradesh.
M S Ramarao, chief general manager, APCOB, says: "Andhra Pradesh has always been at the forefront of technology adoption in India and being the leader of cooperative credit institutions of A.P, we wanted to deploy the most efficient yet economic multi entity core banking solution covering all the 22 District Central Cooperative Banks in the state."