Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, and RBL Bank, one of India’s leading private sector banks, announced that the bank will migrate from an on-premise deployment to a modern Cloud Native Computing Foundation (CNCF) Certified, Kubernetes managed, containerized ecosystem.
The shift will enable RBL Bank to power its business with a state-of-the-art private cloud architecture, enabling it to cost-effectively scale at will, while delivering new digital banking capabilities at speed. The bank will gain from the automated, self-service capabilities of the cloud-native architecture to realize greater responsiveness, agility and reliability required to succeed in today’s digital reality.
- Finacle’s extensive open API (application programming interface) repository will provide the agility required to seamlessly integrate and co-innovate with ecosystem partners, one of the key focus areas for the bank. Bank will also co-innovate with Infosys Finacle in enriching the suite.
- The bank has also upgraded its API foundation with Finacle’s Digital Accelerator APIs. The solution’s microservices architecture enables the bank to easily scale-up to manage surges in services, on-demand, across traditional, modern and emerging channels. The bank is now processing, on an average, six times higher mixed channel transactions per day compared to last year.
- Finacle Digital Banking Solution Suite will help enhance digitization and automation across the enterprise, leading to significantly improved customer experience, greater STP (straight through processing), and lower operational costs.
Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, “Today, more than ever, customers demand round-the-clock, personalized banking services – on bank’s digital channels as well as third party applications. RBL Bank has always been committed to staying contemporary when it comes to digital banking paradigms to successfully meet customer demands. We believe the upgraded digital banking platform, on a cloud-native architecture, will help accelerate innovation at RBL, enable deeper customer engagements and drive extensive automation to achieve operational excellence.”
Sankarson Banerjee, Chief Information Officer, RBL Bank, said, “Even as our customers shift and readjust how they bank in these challenging times, it is our continuous endeavor to provide them with a world class customer experience. When combined with the flexibility to elastically scale our applications and microservices, we will be better placed to meet our digital transformation goals. We’re investing in this new platform to gain exponential benefits in reducing costs, increasing efficiency, lowering cost to serve and ultimately, a better customer experience. Finacle’s microservices and API based architecture forms the foundation on which we react to market requirements faster and remain ever ready to serve digitally native customers.”