Mahila Bank to have pay-per-use IT infra model

Being the country’s first women’s bank is not the only factor that sets Bharatiya Mahila Bank apart from other lenders. It’s set to become a trendsetter by adopting a technology infrastructure model based on per-usage payment system — the first time by an Indian bank. The bank, expected to start operations in eight cities from November, is currently in the process of finalising its IT vendor. Official sources say three technology companies — Infosys, US-based technology firm FIS Global and Polaris Financial Technology — are in the fray for the ambitious project, to be based on the hosting model.

According to the terms and conditions, the selected service provider will own the hardware and software of the entire bank and will be paid on a per-branch-per-month basis. While FIS’ bid is said to be worth Rs 900 crore, Infosys might have quoted Rs 1,400 crore for the seven-year contract.

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