Zoroastrian Co-operative Bank Ltd (ACBL)

Zoroastrian Co-operative Bank Ltd (ACBL) Co-operative Bank Ltd (ACBL)– Implementation of Finacle Digital Banking space on cloud on SAAS model – First of its kind

With over 2 decades of experience in driving digital transformation for banks of all sizes in
India and globally, BBSSL partnered with Infosys Finacle and SI to implement its cloud-ready,
digital banking suite to provide ACBL a comprehensive, flexible, and powerful platform
capable of transforming them into a completely digitized institution.
The solution enables the bank to quickly launch new and innovative products and services,
while its open architecture ensures reduced integration costs and accelerated turnaround
time. The cloud-ready platform offers a full-fledged banking suite that includes mobile and
online banking that offers better operational efficiency. The cloud model significantly reduces
the cost of owning and maintaining an IT infrastructure, while offering the banks customers
a heightened experience.
After evaluating various platforms available in the industry against parameters like
innovative API’s, ease of integration and strong implementation partner in BBSSL, ACBL
decided to adopt Infosys Finacle cloud model, making it the first bank in India to take
advantage of this capability. This model allowed the bank to achieve optimum modernization
along with the flexibility to scale, in a cost – efficient manner.
This was implemented as a SaaS model with Finacle Software for the first time in Urban Co
operative Banks for which Infosys presented to us with a Trophy for Excellence.

Salient features of the SaaS (Software as a Service) implementation:

• Over 235,000 unique customers have already been migrated to the platform. The banks front
  office teams are already experiencing a significant increase in operating efficiency and a
  marked ease of customer interactions
• Enabled with end-to-end managed services, the cloud-based platform has helped the bank to
  shift from a capital expense model to an operating expense model, ensuring the bank only
  pays for what it uses without significant upfront investments.
• The in-built product factory capability and cloud elasticity enables the bank to rapidly
  innovate and roll out products and services on-demand to meet the ever-changing needs of
  the market.
• A robust open API repository allows the bank to effectively implement open banking and
  easily collaborate with external ecosystem.
• Implemented NEFT and RTGS and other payment systems in record 15 days with the
  cooperation of friendly Bank support in receiving the test messages.
• The bank now has a future-proof platform to accelerate innovation and provide highly
  personalized offerings to its customers.
• The bank has a highly secure, cost effective and scalable cloud infrastructure enabled by
  YOTTA, Finacle regional cloud partner in Asia, with end-to-end managed services to support
  banks operations, with high uptime and adherence to regulatory compliances.