NIIT Technologies deploys its core banking solution on Azure to empower banking in India
NIIT Technologies Limited, the leading global IT solutions provider, has announced the deployment of 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 Reserve Bank of India (RBI) compliant. 16 banks across the states of Delhi, Uttar Pradesh, Rajasthan, MP, Uttarakhand, Chhattisgarh, West Bengal, and Maharashtra in India are already using BankingEasy solution deployed on Microsoft Azure.
The cloud-based solution allows flexibility, improved connectivity, better security, and compliance and with the availability of cloud services through datacentres locally in India, banks will be able to leverage Azure, Office 365, CRM Online, and Disaster Recovery Services based on their needs.
“Microsoft is the first hyper-scale and only global cloud provider to offer a complete portfolio of cloud services from local datacenters in India. Our Trusted cloud principles address customers concerns of security, privacy & control, transparency, and compliance. Mid and Small banks are playing a crucial role in getting the unbanked population come under the Indian Banking ecosystem. We are committed to empower them with modern tools and solutions that offer mobility while ensuring security.”
– Harish Vaidyanathan, Director – ISV Business, Microsoft India
According to the company, BankingEasy on Azure enables banks to adapt with the changing market dynamics. Arvind Mehrotra, President and Global Head, Infrastructure Management Services at NIIT Technologies stated in the press release that despite the surge in transactions and data during the current demonetization phase, BankingEasy on Azure has enabled the banks to deliver consistent customer experience. Also, BankingEasy on Azure aims to address the challenges plaguing the cooperative banks – including lack of standardized business model and risk management systems among others – and help them perform much better than earlier.Further reading: Azure, India