Kolhapur-based Ratnakar Bank, with about 70 years of heritage behind them,sought to completely transform their businessin a bid to offer their customers a wider bouquet of offerings and to meet new age banking demands.
In 2010 Vishwavir Ahuja (former MD & CEO of Bank of America's India operations) and his team entered the bank with the goal of putting it on a firm growth path. As part of its growth plans, Ratnakar Bank wanted to completely transform its business right from expanding its offerings, enhancing its service efficiency to meet its internal and external customer demands and improving customer satisfaction – a business transformation strategy was in the charts.
In partnership with Netmagic, Ratnakar Bank has created a state-of-the-art infrastructure setup that is future-ready, continuously upgrading and on the path of increased reliability and robustness to face growth and market challenges. “We have been able to prove that IT Transformation can lead Business Transformation at the Bank and are now on a fast track path to being the new-age Bank that was the original vision,” sums up Anup Purohit.