Mumbai, October 29, 2022: The Digital Fifth, India’s leading fintech consulting & advisory firm for banking, insurance & financial services, announced the successful implementation of its digital transformation program at Suryoday Small Finance Bank aimed at fast-tracking the bank’s digital banking initiatives.
The ambitious technology & digital transformation initiative was conceptualized and implemented in a record 10 months’ time. This unique digital transformation program encompassed an end-to-end transition from the existing stack of co-managed platforms to a cutting-edge technology stack to be managed by the bank’s in-house technology team.
With customer centricity at its core, the digital transformation program is aimed at fast-tracking Suryoday Small Finance Bank’s product innovations, simplification of customer journeys, improvement in customer engagement, and providing a better customer experience. The bank will now be ready to partner with Fintech and Open Banking Ecosystem through industry-standard Application Programming Interface (API).
Commenting on the successful implementation, Sameer Singh Jaini, Founder & CEO, of The Digital Fifth, said, “We are delighted at having successfully conceptualized & implemented the ambitious & complex digital transformation initiative for Suryoday Small Finance Bank in a record time of 10 months. This initiative has helped us to demonstrate our capabilities as a trusted partner in leading digital programs in a practitioner’s way”.
Further, he pointed out, The Digital Fifth team led by its Program Management Office by working closely with the Bank’s internal teams & solution partners implemented a digital transformation program, the scope of which included Setting Project Governance Structure; Providing Deep Banking Domain & Technology Skills for Scoping & Resolving; Defining Monitoring Tools for Project Management; Executing Communication Plan including Reporting Dashboard; Controlling Risk & Issue Management and Senior Management Reporting Protocols.
Commenting on the successful implementation of the digital transformation program at the bank, Baskar Babu Ramachandran, Managing Director & Chief Executive Officer, Suryoday Small Finance Bank, said, “Upgrading to a modern digital banking platform is a big move for us. We are confident the platform will provide us comprehensive product functionality and the ability to scale our operations, with significantly lower operating costs and vastly superior customer service. We thank “The Digital Fifth” team for managing the program to efficient completion.”