SBI Embarks on Bold Digital Transformation Journey

State Bank of India (SBI) plans to modernize its core-banking infrastructure over two years, focusing on hardware upgrades, migration to Linux, externalization of functions, and private cloud infrastructure. Strengthening partnerships with fintechs through innovation hubs, SBI aims to enhance agility and compliance.

The State Bank of India (SBI) is set to overhaul its core-banking infrastructure within the next two years, in a bid to enhance agility and scale.

During the Singapore FinTech Festival, Ashwini Kumar Tewari, SBI's Managing Director for corporate banking and subsidiaries, detailed the strategic plan, which includes transitioning from Unix to Linux, and deploying microservices for key operations. The bank aims to modernize while ensuring seamless service continuity.

Moreover, SBI is fortifying its partnership with the fintech sector by establishing innovation hubs and sandboxes, fostering collaboration and allowing fintechs to integrate seamlessly into its ecosystem through over 300 APIs.

(With inputs from agencies.)