In In a bid to adequately support its growing operations, private sector lender, IndusInd Bank has replaced its legacy core banking system with Finacle 10.2 from Infosys. The implementation of the state-of-the-art CBS will allow the bank to bring in additional efficiencies in its operations and compete more effectively in the marketplace.
Remarkably, the bank just took a single day cut-over to replace the old CBS and go live with Finacle. The bank replaced its existing core banking system with Finacle 10.2 in all 461 branches and 852 ATMs with zero post go-live performance and scalability issues.
According to Paul Abraham, Chief Operating Officer, IndusInd Bank, going live in a single day across the country without any business disruption was a major challenge for them. To this end, the bank relied on the services of Avekshaa Technologies which specializes in de-risking complex IT projects. The firm ensured that issues across the technology stack were identified and mitigated well in advance and the transition was seamless.
Finacle core banking implementation was one of the most significant steps in the Banks transformation journey. With able support from Avekshaa, the transformation journey was seamless. Further, the Banks ambition for significant growth, in terms of client base, physical branch network, distribution channels as also the range and sophistication of its product suite, is seen to widen further, commented Paul Abraham, Chief Operating Officer, IndusInd Bank.
IT infrastructure modernization and legacy replacement remains a high priority for Indian banks as they look to narrow the widening gap between front-office and back-office services and as a result many banks which implemented core banking systems in the past are looking to replace their existing systems. Nike Air Presto Fly
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