Accenture (NYSE: ACN) and Bank of Baroda have successfully completed the technology integration of the former Vijaya Bank’s branches with Bank of Baroda – part of the post-merger integration of the first three-way merger of public sector banks in India. Accenture is now helping align former Dena Bank’s IT systems with Bank of Baroda.
The merger of Vijaya Bank and Dena Bank with Bank of Baroda in 2019 created the country’s third largest public sector bank. Upon completion, the combined technology architecture will help the merged entity seamlessly integrate its India-wide customer service and business operations network of nearly 9,000 bank branches and more than 12,000 ATMs.
In its role as lead technology partner, Accenture developed the blueprint for consolidating the IT systems of the three banks and is overseeing the execution of the technology integration strategy, which includes data migration, application and data center consolidation, as well as business continuity management. With the completion of the Vijaya Bank migration, around 21 million customers from across 1,900+ Vijaya Bank branches have been seamlessly migrated to Bank of Baroda. The migration was executed remotely during the ongoing pandemic with no impact on business continuity.
Sharad Saxena, Chief Technology Officer, Bank of Baroda said, “Our technology integration goal is to offer uninterrupted customer services while paving the way for the next-generation banking experience across the merged entity. Accenture’s role in the consolidation of the technology infrastructure of former Vijaya Bank with that of Bank of Baroda has helped us offer a smooth, hassle-free experience to our customers during the migration. The integrated technology architecture gives former Vijaya Bank customers the ability to opt for Bank of Baroda’s entire suite of offerings, while continuing to use their existing payment instruments until further notice.”
“Technology plays a pivotal role in successful post-merger integration and unlocking value for all stakeholders,” said Sonali Kulkarni, Lead – Financial Services, Accenture in India. “With this collaboration, our objective has been to minimize disruption to the employees and customers across the three banks, while enabling business continuity.”
In 2018, Bank of Baroda collaborated with Accenture to develop and maintain an Analytics Center of Excellence (ACoE) – a software platform with a central data repository that can store up to a petabyte (a million gigabytes) of company data, and is powered by leading data technologies and techniques such as predictive analytics.