About the Transformation
The bank’s modernization initiative aimed to transition to a new technology stack with docker containerization for cloud deployment. Find out how by utilizing open-source technology, the upgraded Finacle version boasted scalability, resilience, and auto failover. Its cloud-native design facilitated automated deployment, seamless interfacing, and a unified code base for rapid customization deployment across various bank locations, particularly in India.
Unveiling the Strategic Advantages
Big savings: With the latest version of Finacle, the Bank expects to reduce its steady state core banking running costs by 35% to 40%.
Test without limits: The new platform reduces the setup time for a test environment from 15 days to just 1 day, eliminating limitations on the number of test environments and reducing associated costs.
Reusability and reliability: Finacle standardized the interfaces of the old core banking platform and makes them reusable, allowing more software to be shipped faster and more reliably, across environments.
Scale for success: Beyond integrating with the co-operative bank in India, the initiative enables the core banking platform to handle over twice the customer base and a significantly increased transaction volume post-integration.
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