Ratnakar Bank and Infosys win the prestigious Asian Banker Technology Implementation Award for ‘Best Core Banking Project, India’ for 2012

Infosys Finacle partnered with Ratnakar Bank, India, to win the ‘Best Core Banking Project, India’ for the year 2012 at the seventh Asian Banker Technology Implementation Awards, held in Jakarta on April 24, 2013. The awards ceremony was held in conjunction with the prestigious Asian Banker Summit 2013, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region. Over 60 financial institutions from 17 countries across the Asia Pacific and the Gulf region were evaluated as part of the ‘Technology Implementation Awards Program’ 2013.

Ratnakar Bank, an emerging private sector scheduled commercial bank, was recognized for its efforts to achieve customer centricity, product innovation and scalability for future growth. Award assessors were impressed by how Ratnakar Bank linked its clear business strategy with its IT requirements and partnered with Infosys for its industry-leading Infosys Finacle core banking system.

Ratnakar Bank has plans to expand its presence in India, and recognized the need to swiftly improve its customer interfaces to deliver a wider range of products and services to new market segments. The new Infosys Finacle core banking system has provided the bank with significantly improved internal controls, the base for achieving a single customer view, and the ability to create targeted products and services – all within an open architecture that enables delivery to customers through a multichannel environment.

The clear-sightedness of the bank’s business goals, defined and supported by strong leadership and a committed technology partner in Infosys enabled the project to be delivered within 10 months. This is one of the fastest core banking implementations ever undertaken in India for a project of this magnitude.

Commenting on the above achievement, Vishwavir Ahuja, Managing Director and CEO, Ratnakar Bank said, “The launch of the Infosys Finacle Core Banking Solution is the most significant step in our technology transformation journey. Finacle has been able to provide the bank with a comprehensive, integrated yet modular business solution that effectively addresses our strategic and operational challenges.”

Adding to this, Haragopal M., Global Head, Infosys Finacle said, “We are very happy to know that our partnership with Ratnakar Bank has been recognized for the value it brings to the bank and its customers. We, at Infosys are very happy that Finacle is playing a crucial role in enabling the bank’s leadership to realize their vision of achieving scale, introduce new products and services, and deliver a high quality banking experience to its customers.”