India Post: Banking System Modernization

India Post has played a crucial role in the country’s socioeconomic development for more than 150 years, providing financial services to more than 650 million bank account holders across its large network of post offices. In order to promote greater access to financial services for India’s rural poor, India Post has implemented a new core banking system across more than 25,000 of its locations, replacing the manual paper-based account processing methods previously in use. Through this banking modernization project India post was able to digitize 650 million accounts across 25000 post offices across India

The technology led financial inclusion project was recognized at Celent Model Bank awards 2017

 

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