Canara Bank has partnered with Kyndryl, the IT infrastructure service provider, to optimize the bank’s business services and operations and modernize its IT infrastructure. As Canara Bank’s IT partner, Kyndryl will augment the bank’s end-to-end IT operations and streamline services delivery across core banking, IT infrastructure, applications, and network operations.
Kyndryl’s solution will provide Canara Bank with an end-to-end view of its business services, risk mitigation using advanced capabilities and tools, and focus on services availability while enhancing observability and reliability. This is aimed at enhancing bank’s customer service experiences.
A unified digital IT services dashboard will provide a single pane of glass view of Canara Bank’s key performance indicators, tools dashboard, and knowledge repositories to the bank’s employees.
K Satyanarayana Raju, MD & CEO, Canara Bank, said, “Our goal is to improve operational excellence, profitability, and scale to become the ‘Best Bank to Bank with’ in India. We are investing in enhancing our technology core, service and process frameworks, and delivery capabilities to provide state-of-the-art banking services to our customers. Kyndryl’s skills and expertise in building, operating, and managing critical technology for Indian banks will help us in building the future we’ve envisioned.”
Kyndryl will implement a set of advanced tools to create sophisticated preventive and predictive intelligence capabilities. This will help reduce incidents through auto-remediation, shorten maintenance timeframes, and improve application availability. The platform will be optimized to recognize and remediate IT failures and anomalies within the bank’s infrastructure and provide data-driven insights such as outage predictions that will boost the bank’s control over its mission-critical operations.
Lingraju Sawkar, President, Kyndryl India said, “We’re honored to be a trusted partner to Canara Bank. Our approach is focused on ensuring Canara Bank’s business continuity, mitigating risk, and enhancing the Bank’s key business performance indicators…”
IBM spinoff Kyndryl was reportedly competing with IBM to win this key deal from Canara Bank.
