Aikarva

Core Banking Transformation for a Digital Bank

A new-age digital bank aiming to disrupt traditional banking by offering seamless, app-first financial services targeted at tech-savvy millennials and underserved SME customers.

Challenge

The client initially operated on a fragmented legacy core banking system that lacked agility, scalability, and support for real-time digital services. This outdated infrastructure restricted the bank's ability to launch innovative products quickly and to scale in a cloud-native environment.

Solutions

We executed a full core banking transformation by replacing the legacy system with a modern, cloud-native core banking platform. The engagement included:

Requirements gathering across retail, SME, and treasury functions.
Selection and implementation of a modular core banking suite.
Re-architecture of account management, transaction processing, loans, and deposit systems.
Integration with digital channels (mobile/web apps), payment rails (SWIFT, UPI, RTGS), and third-party APIs.
Data migration and historical records transformation from legacy systems.
Staff training and deployment of a DevOps pipeline for rapid delivery.

Technology Stack

Core Platform: Temenos Transact / Finacle Core (depending on client)
Cloud Provider: AWS
Middleware & Integration: Mulesoft, Kafka
DevOps: Jenkins, Docker, Kubernetes, Terraform

Outcome

Reduced time-to-market for new banking products by 70%.
40% increase in customer onboarding speed.
Enhanced regulatory reporting and compliance alignment.
Significant OPEX reduction due to automation and cloud-native design.