In 2004, India's National Association of Software and Service Companies (NASSCOM) nominated Punjab National Bank (PNB) as the best user of technology in its sector. Till 2000 PNB was still relying on manual processes to collect, store, and analyze business data. Its retail branches were not connected and it was difficult for management to understand business drivers and impediments. This situation made it difficult for PNB to provide optimum customer service and resulted in lost opportunities. Manual operations were also costly to support. To compete more effectively in the new deregulated environment, PNB implemented a core banking solution called Finacle, developed by Infosys. Finacle is a universal banking solution built on Oracle's Relational Database Management System (RDBMS).
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