GTB to enter e-com

HYDERABAD, JULY 31: Global Trust Bank (GTB) will be the first Indian bank to provide customers access to information on their accounts wi...

HYDERABAD, JULY 31: Global Trust Bank (GTB) will be the first Indian bank to provide customers access to information on their accounts with the National Securities Depository Ltd (NSDL) through the Internet, with the implementation of its e-commerce initiative within the next 90 days."As and when the laws of the country allow for depositor instructions to be accepted electronically, we will offer that facility also on the Internet," GTB chairman Ramesh Gelli said announcing the private-sector bank’s e-commerce initiative on Saturday.

GTB had tied up with Infosys Technologies to partner the bank’s e-commerce foray, for which, "BankAway"the proprietary product from the Bangalorebased information-technology giantwould be used, Gelli said.Infosys chairman and chief executive officer NR Narayana Murthy, who was also present on the occasion, said he was glad that GTB had chosen his company to enter the e-commerce paradigm, which will usher in the "anytime anywhere" banking in the country.

ICICI Bank was thefirst in India to implement the BankAway for Internet banking solutions. Infosys had also supplied the software to a Sri Lankan bank, while another Indian bank had recently signed an agreement with it for implementing it, Infosys senior vice-president and head, banking business unit, Girish Vaidya Infosys said. BankAway is a powerful E-commerce platform which enables banks to provide integrated financial services to their customers with a one-click access to all their bank accounts, trade finance, bill payments and investments, and on-line shopping.

GTB offers phone banking and ATM services, which are expected to cross 30 locations by 2000, Gelli said. Initially, customers will be offered a single view of all their accounts with any of the bank’s branches and pass requests for transfer of funds between their accounts, cheque books and demand drafts. GTB will also tie up with leading utility companies like telephone firms and credit card issues to enable its customers pay their bills over the Internet, thebank’s executive director Sridhar Subhasri said.