Suryoday SFB chooses Kyndryl to drive tech transformation

Our Bureau | Updated on: Apr 25, 2022

Kyndryl to deploy and support a new core banking system

Suryoday Small Finance Bank (SSFB) has chosen Kyndryl (NYSE: KD) to drive its technology transformation programme, improve operational efficiency, and increase digital banking adoption among its customers as part of a five year transformation partnership.

SSFB (BSE: SURYODAY) will leverage Kyndryl’s advisory and implementation services to deploy and support a new core banking system and integrate with digital channels to deliver a highly agile banking platform that accelerates retail business growth and enhances the bank’s customer experience, per the Bank’s statement.

SSFB has more than 565 branches and 1.8 million customers. Kyndryl is an IT infrastructure services provider that designs, builds, manages, and modernizes complex, mission-critical information systems.

Apart from modernising the bank’s technology and network connectivity, Kyndryl will also provide security and resiliency services using its Cyber Resiliency Orchestrator to ensure the bank remains compliant with current and future risk management guidelines and regulatory requirements.

“We are investing in technology and digital infrastructure for enhanced customer centricity, operational efficiency, and risk management. Our collaboration with Kyndryl provides us a single point of management for our entire IT requirements that will enable improved services uptime, security, and functionality for our customers,” said R Baskar Babu, MD & CEO, SSFB.

Published on April 25, 2022
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