Engage with us to run outcome-based digital transformation with innovation at its core
We specialize in aiding banks and financial institutions to undergo digital transformation using AML, cyber security, core banking, banking compliance regulations, and banking IT solutions. Digital transformation of the banking sector aims to improve operational efficiency, optimise costs, mitigate risk, build agile regulatory responses, and create superior digital experiences.
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Birlasoft recognized as a
Major Contender and a Star Performer in Everest Group's Application and Digital Services in Banking – PEAK Matrix™ Assessment 2020
Banks and financial institutions continue to grapple with mounting cost pressures, rising competition from the fintechs, emerging disruptive business models, agile responses to risk and regulatory needs, and growing customer needs. While most of them have embraced digital transformation to ward off these challenges, there are significant roadblocks on the way comprising clarity on digital strategy, reimagining technology-business intersect and change management.
Birlasoft offers IT solutions to help banks with digital transformation. Our approach is based on the Power of Digital philosophy, which includes six key elements: core system modernization, business process overhaul, digital technologies and platforms, core infrastructure, data management, and CRM. We aim to create long-term value for banking businesses.
Segments we cover
Retail Banking
Digitally transformed omni-channel banking for superior CX and agile operations
Cards Processing
Digitally transformed cards and payments ecosystem for staying competitive and compliant
Achieve rapid and profitable credit growth at-scale with artificial intelligence and automation
Governance, Risk, and Compliance
Digitally transformed GRC for agile regulatory responses, effective risk mitigation, and compliance
Tackle ESG risks and unlock opportunities with our cloud-native data foundation solution
Featured Insights
Success Stories
Services
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Application and Infrastructure
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ERP
Solutions
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Anti-Money Laundering
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Contact Center Automation
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Credit Risk Analytics
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Customer Onboarding
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NetBanc
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Vendor Risk Management
Recognition
Partnerships
Discover BFS technology from Birlasoft to accelerate your digital transformation efforts and build a more resilient business!
Connect with our BFSI industry IT solution experts and banking digital transformation gurus today!
FAQs
Digital transformation for banks involves leveraging advanced technologies like AI, automation, and machine learning to enhance customer experiences, streamline operations, and drive growth. Birlasoft supports this transformation by offering solutions such as digital lending platforms, AI-powered risk profiling, and automated client onboarding.
The banking sector can benefit from a range of IT solutions, including internet and mobile banking products, real-time banking applications, and digital lending solutions. These solutions aim to improve customer experience, reduce operational costs, and ensure scalability and security.
Cyber security in banking is enhanced through robust fraud detection platforms and transaction monitoring systems. These solutions use customizable business rules and advanced analytics to detect and prevent fraudulent activities, ensuring the security of banking operations.
Banks must comply with several key cybersecurity regulations to ensure the security and integrity of their operations. These regulations include the Gramm-Leach-Bliley Act (GLBA), which mandates financial institutions to protect customer information, and the Federal Financial Institutions Examination Council (FFIEC) guidelines, which provide a framework for managing cybersecurity risks. Compliance with these regulations involves implementing robust security measures, conducting regular risk assessments, and ensuring timely reporting of cybersecurity incidents
Key banking compliance regulations include mandates like the FDIC Rule 370, which requires comprehensive data management for deposit insurance determination. Solutions addressing these regulations ensure compliance by integrating multiple systems, managing complex insurance calculations, and providing real-time data transparency.
Core banking solutions include scalable and secure internet banking applications that interface seamlessly with existing core banking systems. These solutions support multifactor authentication, enhanced administration capabilities, and compliance with global security standards
