Kerala Bank has completed the first phase of digitalisation across its network of banks, President Gopi Kottamurikkal announced. To mark this milestone, Kerala Bank is organising an IT conclave on 27 September at Hotel Marriott, Edappally, which will be inaugurated by Chief Minister Pinarayi Vijayan.
During the event, the Chief Minister will also release a case study detailing the process of integrating IT services across 14 banks. Ministers V.N. Vasavan and P. Rajeev, NABARD Chairman KV Shaji, and other dignitaries are expected to participate in the conclave.
Kerala Bank, established on 29 November 2019 through the merger of 13 district cooperative banks and the Kerala State Cooperative Bank, has successfully unified its IT services across all member banks. The primary challenge lay in migrating multiple banks, each operating on different software systems, onto a single, cohesive platform.
This critical task was accomplished with the expertise of Kerala Bank’s own IT personnel. According to sources within the bank, this integration is considered unparalleled in the Indian cooperative banking sector.
The IT unification now allows Kerala Bank to offer modern banking services comparable to private banks. CEO Jorty M Chacko stated that over 2,15,000 customers are currently using Kerala Bank’s mobile banking services, highlighting the success of the digitalisation initiative.
Kerala Bank is also opening new opportunities for startups to contribute to its digital banking ecosystem. Officials confirmed that a 1,000 square foot fintech innovation hub will be established in the Kerala Bank building in Kakkanad, providing facilities for startup companies interested in developing fintech services.
Authorities added that a memorandum of understanding (MoU) formalising this initiative will be signed during the upcoming IT Conclave, further strengthening collaboration between Kerala Bank and the fintech startup community.
