system has not experienced any down-time or affected the customers. 'The reliability of the system is excellent,' stated Chatard.
By late 2010, a handful of Temenos staff and its subcontractors continued to work onsite, 'helping to maintain the system'. 'We thought that by working with the vendor directly we would avoid the third party syndrome and the “ping- pong” between the parties involved later on, but I think the sourcing could have been better,' Chatard said. He observed that there were some problems with the quality of the professional services supplied by Temenos, but this issue was resolved. 'I am not dissatisfied,' he said.
The set-up the bank strives for is 'to have a model where the vendor offers us assistance locally as well as the resources in India to help us with development projects if we continue to grow', said Chatard. In early 2011, there were no plans to expand BforBank's existing 'pure retail' product range, he added, but international expansion was being considered. If BforBank proves to be successful in the domestic market (and so far it seems to be doing well, with 'substantial growth' ongoing, according to Chatard) and the market conditions are right, the operations will expand abroad. Europe is likely to be the main focus. The bank's current infrastructure and technology set-up will be used as a model for new locations.
