- ESAF Small Finance Bank has transitioned to Oracle Flexcube as its new core banking solution, replacing the previous system, Profile by FIS, which it used since 2017.
- FIS Profile was an outsourced solution targeting small and mid-sized Indian financial institutions, including ESAF and Bandhan Bank, which also switched to Flexcube earlier in 2023.
- Flexcube offers over 1600 RESTful services and an embedded machine-learning framework to support core banking functions like account management, transaction processing, and loan disbursement.
- ESAF, initially founded as a non-government organization (NGO), focuses on serving the underserved communities in India, particularly those at “the bottom of the pyramid.”
- The bank operates in 23 Indian states, serving 5.6 million customers and providing a range of banking services including accounts, lending, pension schemes, and instant payments via the Unified Payments Interface (UPI).
