Union Bank of India has completed the IT integration after which all the branches of erstwhile Corporation Bank have come fully under its fold as part of the amalgamation exercise, the bank said on Wednesday. With this IT integration, all of erstwhile Corporation Bank, including service and specialised branches, have been fully integrated with Union Bank of India (UBI), it said in a release.
All customers of erstwhile Corporation Bank have been successfully migrated to core banking solution (CBS) of Union Bank of India in a record time, it said. Along with this feat, the bank has successfully rolled out internet banking, mobile banking, UPI, IMPS, FI gateway, treasury and Swift for erstwhile Corporation Bank customers thereby enabling them to transact seamlessly across branches and delivery channels of UBI.
Earlier, the bank migrated ATM switch and ATM terminals smoothly into UBI network. Union Bank of India said the entire migration has been completed at a record time with least inconvenience to customers, without effecting any change in their account numbers, debit cards or net banking credentials.
The entire migration has been executed in association with Infosys, EY, and BCG. The bank has already accomplished administrative amalgamation process with roll-out of new organisation structure, harmonised products and processes.
"We are delighted to achieve complete integration of all e-CB branches, and delivery channels. It opens huge opportunity for our customers and enhances our capability to offer innovative products and services," said Rajkiran Rai G, managing director and chief executive officer of Union Bank of India. According to the plan, in the next phase, all branches of e-Andhra Bank shall also migrate to Finacle 10 well within the current financial year, he added.
The amalgamation of Corporation Bank and Andhra Bank into Union Bank came into effect from April 1 this year.