Punjab & Maharashtra Co-op. Bank, one of India's youngest co-operative banks, has selected the IBM Smarter Computing approach to IT to accelerate its growth and reach in the fast developing financial services landscape in India. PMC Bank chose to migrate its applications including core banking to an IBM infrastructure with Power Systems to support the growing needs of its more than 66 branches, two extension counters and ATM network, while strengthening its online presence through remote banking.
Headquartered in Mumbai, Maharashtra, the richest and fastest developing state in India, accountable for 25% of India's industrial output and five percent of its GDP, the client base of PMC Bank is growing and diversifying even faster. Established as a new bank in 1984, today PMC Bank supports more than 500,000 clients and more than 5500 crore of business. To keep up with its growth without compromising its standards of service and to be able to enrich its offerings while developing its branch and ATM network, PMC Bank needed a totally new concept for its IT infrastructure to support varied applications like mobile banking, SMS banking, Internet banking, Treasury operations and kiosk services.