State Bank of India plans to set up an end to end enterprise wide loyalty program for the bank and its associate banks that appreciates and rewards all bank customers OBC to have RM system Oriental Bank of Commerce is proposing to implement an operational risk management system, including advisory services for operational risk management framework in line with the guidelines of the Basel Committee on Banking Supervision and the Reserve Bank of India. The bank has sought proposals in this regard from eligible service providers. The solution will be named Operational Risk Management System (ORMS). At present, the bank follows Basic Indicator approach for capital calculation. The bank wants the ORMS to be available at enterprise-wide level and it would cover among other for their transactions and interactions with the bank, use of the bank’s products and behaviors that profits the banks. The bank has invited proposals from service providers to implement and manage such a program for the bank. The selected service provider, besides settingup and managing the program for the bank and its associate banks, encompassing products/services/channels at an enterprise level, will also be required to take over the existing loyalty program for the bank’s debit cards, cover personal banking, alternate channels, green initiatives, merchant acquiring, cross selling products/ channels and other products of the bank that lend themselves to a loyalty program, develop an IT solution with capability to effectively interact with the numerous data systems that houses the data of the different banking products, have a dynamic system that effectively captures any change in logic for point accumulation, redemption etc and build the loyalty program into a strong recognisable brand.
