Kotak Mahindra Bank, one of the India’s fastest growing banks, and Infosys, a global leader in consulting and technology, have successfully implemented Finacle 10 universal banking solutions across 335 bank branches. The big bang implementation saw Finacle core banking and e-banking solutions roll out simultaneously across all the branches of Kotak Mahindra Bank in India. The entire implementation, which replaced the bank’s legacy core banking system with no disruption to business, was completed in 18 months.
Leveraging Finacle, the bank is aiming to drive a unified customer view, enabled by the centralized platform, resulting in significant improvement in service levels and customer experience; streamlined business processes for higher branch productivity and enhanced capability to deliver offerings such as RTGS payments, sweeps and different options for standing instructions.
The bank’s net profit for the quarter ended December 31, 2011 has surged by 46.95% at Rs 276.08 crore as compared to Rs 187.87 crore for the quarter ended December 31, 2010. Bank’s total Income has increased by 47.42% at Rs 1922.94 crore for the quarter under review from Rs 1304.41 crore for the December quarter of the previous fiscal.
