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About Us > Partners > Indian Overseas Bank(IOB)
Indian Overseas Bank (IOB) was founded on February 10th 1937, by Shri.M.Ct.M. Chidambaram Chettyar, a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking. 
 
IOB had the unique distinction of commencing business on 10th February 1937 (on the inaugural day itself) in three branches simultaneously - at Karaikudi and Chennai in India and Rangoon in Burma (presently Myanmar) followed by a branch in Penang.
 
IOB has many firsts to its credit, was the first Bank to venture into consumer credit, first Public sector Banks to establish 3 way DR setup for CBS to ensure Zero data loss, has implemented the Core Banking Solution developed in-house, christened ‘CROWN’ (Centralized Resources Over Wide-area Network). 
 
Bank initiated computerisation in the areas of inter-branch reconciliation way back in 1964. Was one of the first to finalise an e-commerce strategy and has developed the necessary internet banking modules in-house. A host of alternate delivery channels and products  covering Internet and Mobile Banking, Internet Banking, Anywhere Banking, VISA International Gold/Platinum/Signature cards for high net worth customers, Kisan debit cards to our agricultural customers, Domestic RuPay cards of NPCI, Credit Cards, Gift Cards with denominations upto Rs.50000/- provide a cutting edge banking service to clients. All branches are under core banking solutions and Bank has over 3417 Automated Teller Machines. 
 
Bank is actively participating in the Aadhaar related initiates of the Government / NPCI. Linking of Aadhaar numbers to account number through Branch channel as well as through Internet Banking and SMS is in operation. To extend banking service to the villages and provide banking outlet in unbanked centres, our Bank has introduced Smart Card Banking. Under this method villagers can operate their account with Bio-Metric Smart Card at the Hand Held Device with a Business Correspondent.
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