success story
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Transforming core banking for Credit Access Grameen Limited with Temenos Upgrade (R12 to R19)

The story
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Credit Access Grameen Limited (CA Grameen), a leading Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) in India, embarked on a significant digital transformation journey to address the limitations of its legacy core banking system. In collaboration with Nagarro, CA Grameen successfully upgraded its Core Banking System (CBS) to an advanced Temenos platform.

 

This upgrade equips CA Grameen with further:

 

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Scalability to accommodate rapid growth and increasing transaction volumes.
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Agility to enable faster product launches and respond to evolving market needs
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Enhance Customer Experience and provide seamless digital experiences.
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Operational Efficiency to streamline processes and minimize manual interventions

The solution enhanced digital transaction capabilities, including collections with self-service options for customers, efficient management of repayments across multiple frequencies, and new product configurations, aligning with CA Grameen's unique microfinance model around the globe. Leveraging its deep experience within the Temenos ecosystem, Nagarro’s team of SMEs led CA Grameen through this digital transformation, enhancing architecture, scalability, and system performance.

 

The challenge
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The extensive scale of CA Grameen’s operations presented various challenges with their legacy Temenos IBS (R12). The challenges included:

  • Slow product rollouts and limited simulation for loan scenarios.
  • Managing real-time 17TB data without errors.
  • Integrating end-of-life modules into a scalable architecture.
  • Retaining essential customizations while reintroducing core capabilities.
  • Integrating multiple Loan Origination Systems (LOS) and developing generic API endpoints.
  • Implementing LMS non-stop capabilities for 24/7 operations.
  • Aligning merged entity loans and financial structures.
  • Conducting a seamless “big bang” go-live.
  • Migrating essential data to new features without altering existing functionalities.
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The solution
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Nagarro helped deliver a comprehensive digital transformation solution. The key components of the solution included:

1. Core banking system upgrade: Migrating to a modern, cloud-native core banking platform.
  • Upgrading T24 Core Banking from R13 to R19.
  • Platform migration from Windows to Linux for greater stability.
  • Shifting technology from C to Java compilation.

 

2. Digital transformation initiatives: Implementing digital channels, mobile banking, and self-service portals
  • Enhanced integration using IRIS for better control.
  • Centralizing LOS integrations.
  • Automation of real-time payment processing.
  • Enabling quicker time-to-market for customer-focused products.
3. Data Analytics and Business Intelligence: Leveraging data analytics to drive decision-making and identify growth opportunities.
  • Merging data for unified reporting.
  • Improved bulk collection and end-of-day reports for accuracy.
  • Flexible loan creation and approval workflows.

4. Cybersecurity and Risk Management
  • Strengthened security measures to protect sensitive data and mitigate risks.
  • Enhanced security with validations against unauthorized activity.

The outcome
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Enhanced security with validations against unauthorized activity. Post-upgrade, CA Grameen achieved notable outcomes:

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Faster time-to-market for customer-oriented products.

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Integrated, transparent reporting capabilities.

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Improved regulatory alignment for easy compliance updates.

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Stability and scalability to support 30-40% business growth.

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Expanded branch network by 400 in six months.

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Enhanced accuracy in insurance claim processing.

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A 10% increase in customer base.

The impact to business
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The successful reimplementation minimized disruption to daily operations and received high praise from CA Grameen’s leadership. Additionally, this upgrade enabled Open Banking access, creating a more inclusive and efficient environment for CA Grameen’s operations.

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CreditAccess Grameen extends heartfelt appreciation to the Nagarro team for their exceptional teamwork, technical expertise, and problem-solving on the complex R19 Upgrade Project. By overcoming significant challenges such as platform migrations, data migration, and enabling new functionalities, the team ensured seamless operations for India’s largest microfinance institution. Their dedication, innovation, and collaborative spirit have set a high benchmark for success. We look forward to continued collaboration in stabilizing and optimizing our systems for the future.
Sudesh Puthran
CTO of CreditAccess Grameen

More about Credit Access Grameen Limited

Headquartered in Bengaluru, CA Grameen serves rural India through micro-loans for women. With operations across 367 districts in 16 states and a presence in 1,894 branches, it has extensive experience in micro-lending and support from Credit Access India B.V., a global leader in microfinance.