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Tata Consultancy Service will centralise the entire back-office operations and document management system at Lakshmi Vilas Bank.
This will facilitate centralising processes such as account opening, know your customer compliance, loans and advances, trade finance and ATM card management, says a press release issued by the bank.
The agreement signed between the bank and TCS will enable all the branches of the bank to collect applications or request forms from customers and forward them to the Central Processing Cell for processing. The cell will be responsible for all centralised business processes and data centre will provide and maintain IT-related services such as servers, data storage and network.
The entire process will be implemented in two phases, the release says.
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