RBL Bank to use Infosys Finacle digital banking solution for cloud migration
Indian private lender RBL Bank will use the Infosys Finacle digital banking solution suite to migrate from an on-premise deployment to a modern cloud native computing foundation (CNCF) certified, Kubernetes managed, containerized ecosystem.
Infosys Finacle is a part of EdgeVerve Systems, which is a fully-owned subsidiary of Infosys.
According to Infosys, the migration will enable RBL Bank to drive its business with a private cloud architecture, which will help it to scale in a cost-effective manner at will, while providing new digital banking capabilities at speed.
Furthermore, the private sector bank will benefit from the automated, self-service capabilities of the cloud-native architecture to achieve increased responsiveness, agility and reliability needed in today’s digital world.
Venkatramana Gosavi – Infosys Finacle Senior Vice President & Global Head of Sales 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.”
Infosys Finacle’s open API repository will offer the agility needed by RBL Bank to integrate and co-innovate seamlessly with ecosystem partners. The Indian private sector bank will also co-innovate with the digital banking solution in enriching the suite.
Infosys revealed that RBL Bank has also upgraded its API foundation with the Digital Accelerator APIs of Finacle.
The microservices of the solution’s architecture will help the bank to scale-up easily to handle surges in services, on-demand, across conventional, modern and emerging channels.
RBL Bank is now said to process six times higher mixed channel transactions, on an average, per day compared to the previous year.
Sankarson Banerjee – RBL Bank Chief Information Officer 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.”