North East Small Finance Bank (NESFB) has migrated its core banking system to M2P’s Turing CBS platform as part of its technology refresh to support its growth plans. The migration involved the implementation of various systems, including an integrated payments hub, treasury, loan origination, digital identity, and compliance solutions. The project was completed in under three months, ensuring a smooth transition without data loss.
Facts
- North East Small Finance Bank (NESFB) has migrated its core banking system to M2P’s Turing CBS platform.
- The migration was part of NESFB’s technology refresh to support its growth plans.
- The project involved implementing various systems, including an integrated payments hub, treasury, loan origination, digital identity, and compliance solutions.
- The migration process, from data receipt to user acceptance testing and go-live, was completed in under three months.
- NESFB previously operated on an outsourced core banking and payments platform provided by FIS.
- The migration to M2P’s digital core banking system aims to improve operational efficiency, reduce costs, and enhance customer experience with personalized features and data analytics.
- Earlier this year, Unity Small Finance Bank also replaced its legacy technology with M2P’s Turing CBS.
