India-based ESAF Small Finance Bank (ESAF Bank) has entered into a partnership with Kyndryl, a provider of enterprise technology services, to overhaul its technological infrastructure.
With over nine million customers and 787 branches throughout India, ESAF Bank aims to enhance its digital banking capabilities as part of a broader IT transformation. The collaboration will involve the use of Kyndryl Consult and Kyndryl Vital to support ESAF Bank’s ‘StratoNeXt’ initiative, which is aimed at modernising its technology systems.
ESAF Bank executive director George John said: “By modernising our technology infrastructure and enhancing our service delivery capabilities under the strategic ESAF 2.0 StratoNeXt project, we aim to deliver a secure, seamless and customer-centric digital banking experience.
“Our goal is to empower not only our customers but also the broader communities we serve. The partnership with Kyndryl significantly advances this vision.”
The partnership will see Kyndryl implement a new infrastructure that is compliant with regulatory standards. This will include updating and migrating ESAF Bank’s enterprise applications to a more agile and high-availability environment.
A key component of this initiative is the development of a comprehensive cybersecurity framework intended to bolster the bank’s digital security. This framework will enable ESAF Bank to introduce secure banking solutions, ensuring minimal disruption to its operations.
Kyndryl also plans to open a support and delivery centre in Kochi within the year. This facility will be dedicated to serving ESAF Bank and other clients, leveraging Kerala’s skilled workforce to enhance service delivery across South India while also creating local job opportunities.
Kyndryl India president Lingraju Sawkar said: “India’s growing rural banking sector is a key pillar to address the increasing demand for affordable credit.
“Our deep expertise in technology and experience in managing mission-critical banking and financial services systems in India uniquely position Kyndryl to support ESAF Bank’s vision of promoting financial inclusion and economic development.”
Recently, Kyndryl expanded its collaboration with marketing data firm Kantar. The agreement focuses on modernising Kantar’s digital workspace and delivering enhanced security and support for the company’s enterprise digital solutions.
This partnership aims to generate significant cost savings for Kantar while facilitating scalable growth through managed technology transformation spanning cloud services, digital workplace, and business applications.
