Tamilnad Mercantile Bank Goes Live on Oracle HCM Cloud Payroll and AI Agents

The Bank has achieved a major digital milestone by successfully going live with Oracle HCM Cloud Payroll integrated with AI Agents, in collaboration with Kovaion Consulting. With this, it becomes the first in India's BFSI industry to adopt AI-powered automation for payroll and HR operations.

This initiative enhances automation, accuracy, and employee experience, setting a new benchmark for HR transformation in banking. The AI Agents within Oracle HCM Cloud will streamline absence management, reimbursements, and policy advisory, driving efficiency and intelligent support for the workforce.

Speaking on the achievement, Mr. Salee S. Nair, MD & CEO, said, "The migration to Oracle HCM Cloud Payroll with AI integration marks a key step in our digital journey, enhancing operational efficiency and redefining employee experience while maintaining our legacy of trust and innovation."

The project was executed jointly by Oracle, Kovaion Consulting, and internal teams.

Nanda Kumar, Founder and Director of Kovaion Consulting, added, "Our collaboration with the bank and Oracle focused on creating a future-ready system built on trust, scalability, and precision."

This transformation reinforces the organization's commitment to innovation, modernization, and people-first growth combining human trust with machine intelligence to define the future of digital HR in banking.

Shares of Tamilnad Mercantile Bank Limited was last trading in BSE at Rs. 494.35 as compared to the previous close of Rs. 497.10. The total number of shares traded during the day was 16254 in over 911 trades.

The stock hit an intraday high of Rs. 500.60 and intraday low of 491.15. The net turnover during the day was Rs. 8063567.00.

Source : Equity Bulls

Keywords

TamilnadMercantileBank INE668A01016 TMB PrivateBank OracleHCMCloud Payroll AIAgents