KOTAK MAHINDRA BANK
Established in 1985, The Kotak Mahindra group has long been one of India's most reputed financial organizations.
In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI).
This approval creates banking history since Kotak Mahindra Finance Ltd. is the first company in India to convert to a bank.
For a bank, enabling customer convenience has traditionally been in the form of setting up a vast branch network.
And the Indian public sector banks which had been around for decades had an advantage.
When they started operations, the management at Kotak Mahindra Bank appreciated the fact that effective use of IT would be one of the key drivers of growth and made it an integral part of the corporate strategy.
Kotak Mahindra Bank decided to counter the initial lack of physical reach by using alternate technology-enabled channels while building a branch network in parallel.
After a comprehensive analysis of the options available, Kotak Mahindra bank settled on an Oracle enabled infrastructure because Oracle’s packaged solutions enabled them to get off the starting blocks relatively quickly.
Established in 1985, The Kotak Mahindra group has long been one of India's most reputed financial organizations.
In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI).
This approval creates banking history since Kotak Mahindra Finance Ltd. is the first company in India to convert to a bank.
For a bank, enabling customer convenience has traditionally been in the form of setting up a vast branch network.
And the Indian public sector banks which had been around for decades had an advantage.
When they started operations, the management at Kotak Mahindra Bank appreciated the fact that effective use of IT would be one of the key drivers of growth and made it an integral part of the corporate strategy.
Kotak Mahindra Bank decided to counter the initial lack of physical reach by using alternate technology-enabled channels while building a branch network in parallel.
After a comprehensive analysis of the options available, Kotak Mahindra bank settled on an Oracle enabled infrastructure because Oracle’s packaged solutions enabled them to get off the starting blocks relatively quickly.