Verinite wins deal to migrate the switching and DCMS system for Top 5 private sector Indian Bank!!
Verinite is glad to announce winning of debit cards and ATM migration deal for India’s private sector bank. Client is among the Top 5 private sector bank in India that serves corporate, retail and SME banking customers with a comprehensive product suite of Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking, and Wealth Management business lines across the country.
Bank is embarking on a technology transformation initiative to replace the current debit card management system (DCMS) and switching system. This migration comprises of close to 2 million debit cards and 1800+ ATM’s. The migration is from a complex multiple switch environment to a single switch. As part of this migration, bank will migrate its DCMS and ATM driving to the new switch. An array of scheme certifications will also be required with Visa, Mastercard and NPCI as part of this migration.
Verinite is selected by the Bank to support this migration project. As part of this engagement Verinite will be responsible for project initiation, test scope definition, project co-ordination and pre-validation for scheme certification activities. Verinite will also undertake functional and migration testing activities to ensure the new Switch and DCMS system adheres to Bank’s requirement and no data loss or error in data migration process.
This is 4th win for Verinite in the DCMS and Switching space thus further strengthening the India growth story. Team Verinite hopes to build on this win to serve more banks in India as they embark on technology transformation initiatives.
Verinite enters Philippines Market with its 1st client win to support cards and switch migration for a Bank!!!!
Kumusta Philippines !!! Verinite is glad to announce its entry into Philippines Banking market with first client win. Client is among the Top 5 Banks in Philippines serving the retail, commercial, corporate and institutional customers.
Bank is embarking on a cards transformation initiative to move onto a modern platform to remain consistent with its motto of being most customer centric bank. Verinite was chosen as partner after an exhaustive selection process comprising of 5 different international vendors.
Verinite will be responsible to manage this entire program of migrating 0.5 million credit cards portfolio with the total transformation initiative cost pegged at USD 6 Million. Also Verinite will be owning up the data migration, functional, customization and interfaces testing stream. The scheme certification stream will involve getting issuing/acquiring certification for Visa, MasterCard and BancNet.
This is huge win for Verinite as it expands its base in the ASEAN region. Philippines will be the 4th country being served in ASEAN by Verinite apart from Vietnam, Indonesia and Malaysia. Team Verinite is excited to bring our innovative, quick footed, domain focused and empathy driven mindset to serve the banks in Philippines.