International Business Machines Corp. said Monday that it has agreed to manage technology infrastructure for Madhav Nagrik Sahakari Bank of India.
Madhav Nagrik Sahakari, of Sirohi, Rajasthan, operates 25 branches in the Indian state, and expects to open more. It is also planning to introduce online and mobile banking and expand its fleet of automated teller machines.
IBM, of Armonk, N.Y., will provide a hosted network that the banking company expects to help it reach more potential customers in small towns and rural areas.
Nipun Mehrotra, the vice president and general manager for global technology services with IBM's India and South Asia unit, said the five-year outsourcing agreement with Madhav Nagrik Sahakari "will not only help them cut their IT expenditure but also ensure they are able to focus on their core business and expansion plans."