NewsVoir
Mumbai (Maharashtra) [India], January 6: In a dynamic financial landscape, the need for innovation is paramount. BHARAT CO-OPERATIVE BANK (MUMBAI) LTD was one of the few banks to implement Finacle as its CBS (Core Banking System) back in the year 2013-2014 with that legacy of being the early mover to adopt technology advancements, BHARAT BANK is now set to redefine the way it serves its customers, by enhancing the overall banking experience while strengthening its operational backbone. BHARAT BANK is proud to announce its technology upgrade to Finacle version 10.2.25, the latest version of the world-renowned core banking system (CBS) by INFOSYS, marking a significant step toward modernization. This upgrade is not just about embracing cutting-edge technology but is also part of a broader vision to enhance customer satisfaction, streamline operations, and set the stage for future growth.
The financial services sector has been undergoing a dramatic shift with the increasing reliance on digital tools and automation. The bank has recognized the need to evolve and adapt to meet these changing demands. By upgrading to Finacle 10.2.25 version, BHARAT BANK aims to deliver an improved banking experience for customers. Finacle latest version 10.2.25's robust features will provide customers with greater ease of access and faster processing times and also creating a seamless experience across multiple touch points--whether mobile, online, or in-branch.
Operational excellence is a key area where the upgrade to Finacle 10.2.25 version will have a transformative impact. Finacle 10.2.25 offers an advanced suite of features that will streamline the bank's operations, improving back-office processes and reducing manual intervention. With enhanced automation and integration capabilities, the bank will be able to manage transactions more efficiently, reduce errors, and speed up service delivery. This, in turn, will ensure that resources are utilized effectively, improving both productivity and cost-efficiency.
The new system's ability to manage complex banking operations with precision will also play a vital role in strengthening risk management, compliance, and governance protocols. These improvements will enhance the bank's ability to provide accurate and timely reporting, ensuring that regulatory requirements are consistently met. As a result, the bank can continue to foster transparency and trust with its customers, reinforcing its commitment to responsible and ethical banking practices.
This upgrade is not just about addressing current needs; it is also about preparing the bank for future growth. The adoption of Finacle 10.2.25 positions the bank as a forward-thinking institution that embraces the potential of digital transformation. The platform's scalability and flexibility will enable the bank to introduce new products and services in a more agile manner, catering to the ever-evolving needs of the market.
The new CBS also supports the integration of emerging technologies this will allow the bank to offer more personalized financial products and services, and make data-driven decisions that enhance business outcomes. By leveraging these advanced technologies, the bank is setting the stage for a more innovative, responsive, and customer-centric approach to banking.
When spoken to Yashodhara D. Poojary, the Head of CBS at BHARAT BANK, he highlighted that the upgrade of Finacle version 10.2.25 marks a significant milestone in their journey towards becoming technologically advanced and customer-centric institution. With this upgrade, the bank is not only enhancing its operational efficiency but also delivering an exceptional and seamless experience for its customers. In addition to technological advancements, the bank has implemented increased security measures to ensure the safeguarding of sensitive data and compliance with evolving regulatory norms. By adhering to the latest standards in data protection and privacy, the bank ensures that it meets the demands of the new age world, providing both security and trust to its customers. As it continues to embrace new technologies and refine its practices, the bank is determined to position itself as a trusted partner for customers, ensuring they benefit from the best in banking services while maintaining the highest levels of security and compliance.
The bank is working to support the new upgrade of Core Banking System (CBS) transformation, which is in the phase of initiation by the technology department. The management is focused towards driving excellent banking experience to its customers in the days to come
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