RBL Bank, an Indian private sector bank, has partnered IT giant Accenture to transform its information technology (IT) systems and advance its digital transformation.
The partnership is expected to enable RBL Bank to provide next-generation banking services, enhance the resilience and scalability of its systems, and improve its business processes and operational efficiency.
As part of the transaction, Accenture will provide managed services to help the bank modernise and consolidate large and disparate applications environment.
The services are expected to help the bank automate its business processes including finance and compliance, human resources and sales.
Accenture India market unit lead Piyush N Singh said: “The banking industry is going through unprecedented disruption, and we believe that digital-native structures will be key drivers of future growth.
“We look forward to using our deep banking industry knowledge and digital capabilities to support RBL Bank in its journey to becoming a truly digital bank.”
Accenture will also create a more responsive technology support for RBL Bank By leveraging its expertise in DevOps and Agile working methodology, Accenture will also build a flexible and more responsive technology for RBL Bank for the continuous roll-out of improved digital capabilities.
RBL Bank offers specialised services under six business verticals, including corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial markets operations.
The bank is currently offering services for more than 8.44 million customers through a network of 1,613 offices, including 392 branches, spanning across 28 Indian States and Union Territories
RBL Bank CIO Sankarson Banerjee said: “RBL Bank’s engagement with Accenture is designed to achieve strategic outcomes that support our vision of being a futuristic, digital bank. In collaboration with Accenture, we aim to create an even more agile organization with a robust culture of innovation.”
In July, the Bank of England awarded a £150m contract to Accenture to upgrade Real Time Gross Settlement (RTGS) service