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Bandhan Bank, a prominent private sector lender, has achieved a significant milestone by completing the migration of its core banking system and internet banking to a new platform. The bank made this announcement through a notification on the stock exchanges, underscoring its commitment to enhancing digital services for its customers.
In recent times, various banks have encountered technical challenges with their digital and tech-based banking services, causing disruptions and inconvenience to customers. Notably, even some of the largest private sector banks in India have faced issues in this regard.
For instance, HDFC Bank, the country’s largest private sector lender, experienced digital and web banking service disruptions in February 2023. Similarly, ICICI Bank, another prominent private sector bank, faced a technology outage in May 2023, further highlighting the vulnerability of banking systems to technical glitches.
Moreover, technical problems have been reported by customers of several banks, including HDFC Bank, ICICI Bank, Yes Bank, Bank of Baroda, and IDFC First Bank, during their participation in the retail digital rupee pilot. These issues have affected the smooth processing of payments and have led to customer complaints.
In contrast, Bandhan Bank’s successful completion of its core banking system and internet banking migration signifies its proactive approach to ensuring uninterrupted and efficient digital services. This achievement demonstrates the bank’s commitment to delivering a seamless banking experience to its customers while bolstering its technological infrastructure.
As the banking industry continues to navigate the challenges of digital transformation, Bandhan Bank’s digital migration success serves as a beacon of reliability and stability in the realm of digital banking services. Customers can expect enhanced digital offerings and a smoother banking experience, cementing the bank’s reputation as a trusted financial institution in the ever-evolving digital landscape.
Sources By Agencies
