Equitas SFB collaborates with IBM to build digital banking platform

Equitas Microfinance Bank has signed an agreement with IBM Consulting to design and build a digital banking platform aimed at providing a secure customer experience, the bank said Saturday.

The cooperation between the two entities aims to enhance the digital products offered by Equitas in addition to its service offerings, as it works to develop its business for the digital first generation, according to a press release issued by the bank.

As part of the next growth phase, Equitas aims to start its modernization journey with a cloud-native platform architecture. “The bank’s delivery model will be highly product-centric, moving away from traditional software management methodologies to flexible frameworks for various channels including mobile,” said Narayanan Eswaran, Equitas Chief Information Officer, in the release.

“This partnership with IBM is just the first step towards customer engagement. We are confident that this strategic partnership will help simplify and transform the banking experience for customers across the board,” said Eswaran.

Speaking about the partnership with Equitas, Kamal Singhani, Managing Partner, IBM Consulting India-South Asia said they are excited to be the advisory partner and technology collaborator for Equitas in its next growth phase.

He added, “We are leveraging IBM Consulting’s deep expertise in the banking industry along with the digital expertise and cloud capabilities to design a state-of-the-art platform to support Equitas Bank’s digital journey.”