Mahesh Bank searches for new core banking system
India-based A.P. Mahesh Co-operative Urban Bank is looking to upgrade or replace its legacy core software technology provided by domestic vendor Infrasoft Technologies.
Mahesh Bank issued an RFP last month to find a new core software provider and system. The RFP has recently closed, Banking Technology understands.
The bank is looking for a turnkey solution, which will be rolled out across its network of 42 branches.
The bank currently has 350,000 accounts and 45,000 daily transactions, which it plans to increase to 900,000 and 150,000, respectively, by 2020. It also intends to grow its branch network to up to 100 locations.
The number of system users stands at 750 (450 concurrent users), with plans to increase the number to 1,800 (1,200 concurrent users) by 2020.
The legacy platform is Infrasoft’s OmniEnterprise, which is Windows-based and running on the Oracle 10g database. It was installed at Mahesh Bank a decade or so ago.