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Tech giant IBM today said it has secured a deal with Ratnakar Bank (RBL) to provide the private sector lender with mobile apps to support financial planning, expense calculation, and financial portfolio management.
Financial details of the deal were not disclosed.
This will enable RBL customers to interact with the bank — through the app, website, at kiosks and branch locations — to manage their accounts and finances, pay bills, transfer funds, open deposit accounts and so on.
It will also enable better managed processes for loan origination, regulatory compliance, account opening and credit approvals.
With over 900 million and counting mobile subscribers in India, RBL is using the IBM’s MobileFirst platform to build, deploy, manage its apps and integrate with RBL’s core banking system to ensure secure transactions and help the bank improve customer and employee engagement, IBM said in a statement.
“The bank will cater to Millennials’ mobile and social lifestyles with new apps to support financial planning, expense calculation, and financial portfolio management,” it added.
IBM and RBL will also build a set of internal apps for employees to improve workplace productivity.
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