Suryoday Bank Selects Kyndryl to Drive Its Digital Transformation and IT Modernization
April 25, 2022
Collaboration will enable Suryoday Bank to provide enhanced security, availability, and manageability for core IT and banking applications
BANGALORE, India, April, 21, 2022 - Suryoday Bank, a leading Small Finance Bank (SFB) in India with more than 565 branches and 1.8 million customers, has chosen Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, to drive its technology transformation program, improve operational efficiency, and increase digital banking adoption among its customers as part of a five year transformation partnership.
Suryoday Bank will leverage Kyndryl’s advisory and implementation services to deploy and support a new core banking system and integrate with digital channels to deliver a highly agile banking platform that accelerates retail business growth and enhances the bank’s customer experience.
Kyndryl will manage the bank’s critical core and mobile banking application ecosystem and provide deep expertise in hybrid cloud services, data analytics, IP based transformation services frameworks, and a robust SLA model to enable the bank’s digital transformation journey. Apart from modernizing the bank’s technology and network connectivity, Kyndryl will also provide security and resiliency services using Kyndryl’s Cyber Resiliency Orchestrator to ensure the bank remains compliant with current and future risk management guidelines and regulatory requirements.
“Suryoday Bank is committed to delivering highly available and robust services to our customers and we are invested in building advanced IT and digital offerings that are best-in-class. We are investing in technology and digital infrastructure for enhanced customer centricity, operational efficiency, and risk management. Our collaboration with Kyndryl provides us a single point of management for our entire IT requirements that will enable improved services uptime, security, and functionality for our customers.” said R Baskar Babu, MD & CEO, Suryoday Small Finance Bank.
“Small Finance Banks are an integral element of India’s banking landscape enabling last-mile delivery of financial services in rural India. Kyndryl’s proactive and advisory driven approach combined with a service level defined metrics model gave Suryoday Bank the confidence to entrust their core infrastructure and application support management to us. We are confident that this will help Suryoday Bank uncover even more pockets of innovation and transformation opportunities as we progress together on this journey,” said Lingraju Sawkar, President, Kyndryl India.
About Suryoday Bank
Suryoday Small Finance Bank has for over a decade, been helping India’s vast unbanked and underbanked segments to access financial solutions that enable them to realize their goals, stabilize their income and lead better lives. Having begun at the grassroots in 2009, the Bank has rapidly scaled across 13 states and Union Territories with more than 565 banking outlets serving 1.8 million customers.
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider. The company designs, builds, manages, and modernises the complex, mission-critical information systems that the world depends on every day. Kyndryl’ s nearly 90,000 employees serve over 4,000 customers in more than 60 countries around the world, including 75 percent of the Fortune 100. For more information, visit www.kyndryl.com.