Infosys will implement Finacle core banking solution to support Ratnakar Bank’s objective of client-centricity, product innovation and scalability for future growth.
The bank aims to grow its number of branches to 125 in the next three months, and to about 300 over the next three years. Ratnakar Bank also seeks new business opportunities by launching several new products across various verticals.
Vishwavir Ahuja, Managing Director and CEO, Ratnakar Bank, said “Since we have least legacy we believe that bringing in the latest technology will become one of our key differentiators. We are the one of the first few banks that will install the latest version of Finacle from Infosys.”
Ratnakar Bank’s upgrade from the legacy banking system to a new-age platform will help it effectively overcome the challenges of managing operational change. It will also enable the bank to have a 360 degree view of customer relationships which in turn would improve customer experience and enhance loyalty. This alliance will also facilitate seamless integration between all the banking channels, including online, mobile and branch thus enhancing operational efficiency and lowering transaction costs. Finacle will help the bank enhance its speed to market, in terms of product/service delivery, by supporting its expansion across both urban and rural markets of the country.