Ratnakar Bank outsources IT infrastructure to Netmagic Solutions

Netmagic Solutions, an NTT Communications Group Company and India's largest pure-play Managed IT Hosting Services Provider today announced that it has signed a 5 year strategic outsourcing partnership with Ratnakar Bank. End Quote

(1888PressRelease) October 04, 2012 - Netmagic, awarded the 'Datacenter Service Provider of the Year 2011' by Frost & Sullivan, is now the exclusive IT infrastructure hosting and managed services partner to Ratnakar Bank. It will host both a primary site in Mumbai as well as a Disaster Recovery (DR) site at its datacenter in Chennai for both its Core Banking & non-Core Banking Services.

As part of the partnership, Netmagic will host and support infrastructure for applications such as Finacle Core Banking System, Exchange 2010 Email, File Servers, Branch terminal servers, Payment Application Services, Treasury Application Services, Depository Systems, Anti-Money Laundering, Asset Liability Management, Internet Banking, Training Application and HRIS for Ratnakar Bank.

Netmagic will also provide Managed Security services to protect Ratnakar Bank's hosted IT infrastructure from external threats and will also host the bank's Desktop-As-A-Service (DAAS) environment.

Commenting on this development, Anup Purohit, SVP & Head IT, Ratnakar Bank said, "Ratnakar Bank is committed to being a customer centric bank with the ability to extend the latest technology-enabled services to our customers in a safe and secure manner. As we implement our Transformation agenda and nearly double our branch footprint (from the current 110) over the next two years, having a partner, such as Netmagic Solutions, which can scale along with us and yet provide us a competitive operating cost model, is highly desirable. With Netmagic we will have dedicated resources during peak hours and shared resources during non-peak hours among other service benefits that help us leverage their expertise without increasing our Capex investment in IT."

Says Sunil Gupta, President and COO, Netmagic Solutions, "We are proud to partner with a bank that is growing as fast as Ratnakar Bank. This strategic decision on the part of their management will add tremendous value to customers of the bank in getting easy access to banking services that were hitherto available with only large banks. It will also free up management time to focus on its core banking activities instead of managing IT uptime."

About Netmagic Solutions:
Netmagic Solutions, an NTT Communications Group company, is India's first and largest pure-play managed IT Hosting Services Provider. Netmagic Solutions is ISO 27001, ISO 9001:2008 and ISO 20000-1 certified and its processes are designed as per the ITIL framework. Netmagic Solutions delivers mission critical hosted applications for over 1200 of the world's best-known enterprises from multiple locations and has been awarded the 'Datacenter Service Provider of the Year 2011' by Frost & Sullivan. Netmagic's Chennai Datacenter is the only Gold LEED certified datacenter by the USGBC in India. Netmagic has 7 carrier neutral, state-of-the-art datacenters located in Mumbai, Bangalore, Noida (Delhi-NCR) and Chennai with over 2,00,000 sq. ft. floor space. As part of the NTT Communications group, it also has access to leading global tier-1 IP network, Arcstar Universal One™ VPN network reaching over 150 countries, and over 130 secure data centers. For more information, visit : http://www.netmagicsolutions.com

About Ratnakar Bank:
Ratnakar Bank is a scheduled commercial bank established in 1943, with registered office at Kolhapur and a rich business legacy in the region serving the trading, agri & manufacturing sectors through a network of 110 licensed branches spread across Maharashtra, Gujarat, Delhi, Karnataka & Goa. It has assets exceeding `7200 crore and deposits of `4700 crore as of March 2012. The Bank's leadership includes a highly experienced team with strong credentials. Visit: www.ratnakarbank.co.in

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