IBM will help a public sector bank implement an analytics system intended to help manage financial management processes as well as forecast, budget and manage liquidity.
The Central Bank of India has used the company’s technology for its budgeting exercise and aims to automate corporate performance management activity, IBM said Thursday.
According to IBM, the bank also consolidated 7.5 million deals and trade positions across the company into a single asset liability management system.
“With the rapid explosion of big data, collecting, sourcing and analyzing real-time data from multiple sources is a growing challenge for banks,” said Jeby Cherian, IBM vice president and managing partner for global business services in India and South Asia.
IBM also intends to help the bank collect data at the branch and regional office level and move away from spreadsheet-based planning.