Indian Overseas Bank is looking to tie-up with a IT consultancy firm to form a joint venture that will sell its in-house developed core banking system.
The state-owned institution has rolled out its core system, dubbed Crown, across all of its 2026 branches and has also developed ATM, online banking and payment systems software.
It has now published a request for proposal document, calling on "reputed consultancy firms" to bid to form an IT JV company. Bidders have to be registered in India and meet various standards for income, size and experience.
The JV will sell Crown, online banking and payment systems software as well as treasury, accounting and forex technology. Bids must be in by 23 March.