Unity Small Finance Bank taps M2P for core banking upgrade
India’s Unity Small Finance Bank has selected M2P Fintech to upgrade its core banking system as it looks to accelerate its go-to-market plans for new digital products and boost its customer experience.
Unity SFB taps M2P for core banking upgrade
Unity SFB will deploy M2P’s Turing CBS offering, which the firm says provides low/no-code product capabilities, enhanced security, faster processing, ease of data migration, and AI/ML capabilities for financial risk management.
The core also provides an application programming interface (API) gateway, allowing for integration with treasury platforms, natively integrated payment processing systems, AEPS (Aadhaar Enabled Payment System), UPI (Unified Payments Interface) and IMPS (Immediate Payment Service).
M2P Fintech says the core implementation was completed in a “record 88 days”.
Unity SFB commenced operations in November 2021 and was founded by Centrum Financial Services and BharatPe. Vinod Rai, former Comptroller and Auditor General of India, is chairman of the bank. It currently has around 111 branches and claims to serve more than 1.5 million customers.
