Kyndryl, a leading provider of IT services, has partnered with ESAF Small Finance Bank, a new age bank in India with over nine million customers and 787 branches, to transform and manage its mission-critical technology infrastructure. The partnership aims to support ESAF Bank’s digital initiative, “StratoNeXt,” which seeks to modernize the bank’s technology and promote financial inclusion and economic development.
Through this partnership, Kyndryl will leverage its technology advisory services, Kyndryl Consult, and its innovative design-led co-creation approach, Kyndryl Vital, to build a modern and regulatory-compliant infrastructure for ESAF Bank. This will involve updating and migrating enterprise applications to a new environment, enabling greater agility, high-availability, and sustained innovation.
The partnership is expected to enhance ESAF Bank’s service delivery capabilities, allowing it to deliver a secure, seamless, and customer-centric digital banking experience. Kyndryl will also implement a comprehensive cybersecurity framework to strengthen the bank’s cybersecurity posture, facilitating the introduction of innovative security-rich banking solutions with minimal disruption to operations.
Kyndryl’s President in India, Lingraju Sawkar, emphasized the company’s deep expertise in technology and experience in managing mission-critical banking and financial services systems in India. He stated that Kyndryl is uniquely positioned to support ESAF Bank’s vision of promoting financial inclusion and economic development.
As part of the partnership, Kyndryl plans to establish a dedicated support and delivery center in Kochi, which will provide services for ESAF Bank and other customers. This expansion is expected to harness Kerala’s skilled technology workforce, reinforcing and deploying Kyndryl’s advanced delivery capabilities for its customers in South India and generating local employment opportunities.
ESAF Bank’s Executive Director, George K John, stated that the partnership with Kyndryl significantly advances the bank’s vision of delivering personalized, accessible, and engaging customer experiences to uplift communities. He emphasized the bank’s commitment to inclusive and responsible banking, leveraging technology to seamlessly blend digital innovation with meaningful physical interactions. The partnership is expected to empower not only ESAF Bank’s customers but also the broader communities it serves.