Hyderabad: NIIT Technologies deployed BankingEasy its core banking solution on Microsoft’s Azure platform. The collaboration will empower small and medium banks across India to operate with more flexibility and become RBI compliant.
With the availability of cloud services through datacentres locally in India, banks will be able to leverage Microsoft’s Azure, Office 365, CRM Online and Disaster Recovery Services based on their needs. Additionally, the solution will substantially improve service experience with any branch banking, with more computing power and secured value added services.
16 banks across Delhi, UP, Rajasthan, MP, Uttarakhand, Chhattisgarh, West Bengal and Maharashtra in India are already using the solution deployed on Microsoft Azure.
Arvind Mehrotra, president and global head, Infrastructure Management services NIIT Technologies stated, “BankingEasy on Azure has enabled these banks to adapt with the changing market dynamics. Despite of the surge in transactions and data during the current demonetisation phase, BankingEasy on Azure has enabled the banks to deliver consistent customer experience.”
“Microsoft is the first hyper-scale and only global cloud provider to offer a complete portfolio of cloud services from local datacentres in India. Mid and small banks are playing a crucial role in getting the unbanked population come under the Indian banking ecosystem”, said Harish Vaidyanathan, Director – ISV Business, Microsoft India.
There are many challenges plaguing the cooperative banks including lack of standardised business model and risk management systems among others.