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Digital & tech integration top agenda post merger: Bank of Baroda CTO
After the recent merger with Dena Bank and Vijaya Bank, Bank of Baroda is now focusing on technology integration of the three
entities to leapfrog to the digital banking era.

It is banking on the extensive technology systems of the three financial entities, spread across 9,500 branches and 13,400 ATMs
and 85,000 employees after the three-way merger.

Currently, integration of the core banking systems is on top of the agenda to ensure undisrupted banking services across all
physical branches and online platforms. This should not be extremely difficult since all three use the same platform – Finacle –
albeit they were different variants. “Bank of Baroda was on version 10 of Finacle, while the other two banks were using version 7,”
said Sharad Saxena, chief technology officer, Bank of Baroda. The process of Vijaya Bank and Dena Bank will have to be scaled
up as part of the integration and migration process gradually within 18 months to ensure uninterrupted services to the 180 million
customers they now jointly cater to.

“We have tested the basic interoperability and these facilities can be accessed by any of the three banks’ customers. While the
complete integration will take time, this first step that we have implemented is fairly significant given the scale of operations,” said
Vikramaditya Singh Khichi, executive director, in-charge of retail, agriculture and MSME banking, Bank of Baroda.

Bank of Baroda has announced its intent to launch an online marketplace to its customers. This digital commerce platform will offer
banking services and farm-related products. It has invited bids seeking a partner to supply 'digital commerce platform' to provide
assistance to merchants on catalog management, purchase management fulfilment, pricing, promotion and other similar services.
The last date for submission of expression of interest is July 26, 2019.

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Bank of Baroda is keen to enhance its digital capabilities by creating an online marketplace that can fulfil services related to
different customer needs. In its request for proposal, the bank said it is “seeking a partner to supply digital commerce platform and
provide support for its implementation for multiple use cases as decided by the bank.”

Interested applicants will be required to provide assistance to merchants on catalog management, purchase management
fulfilment, pricing, promotion and other similar services. They will also have to use predictive analytics to gauge customer buying
habits, demand patterns, recommend cross-selling opportunities, implement digital security and advisory management and
manage location-based offers.

During the Union Budget, Finance Minister Nirmala Sitharaman, announced the government’s decision to double investment in the
agriculture sector and allied sectors by 75%. To give rural farming a push, state-owned Bank of Baroda proposes to offer farming
products on its online platform. This will include agri crop loan, farm machinery, equipment seeds and fertilisers. It will also provide
loan against gold, all kinds of insurance products, investment products such as government gold bonds, among others services.

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