Kyndryl to Modernize and Manage Canara Bank’s IT operations

Canara Bank team

Bangalore, 19 January 2024 – Kyndryl, the world’s largest IT infrastructure services provider, announced today that it has engaged with Canara Bank, one of the largest public sector banks in India, to optimize the bank’s business services and operations and modernize its IT infrastructure. As Canara Bank’s trusted IT partner, Kyndryl will augment the bank’s end-to-end IT operations and streamline service delivery across core banking, IT infrastructure, applications, and network operations.

Kyndryl’s solution will provide Canara Bank with an end-to-end view of its business services, risk mitigation using advanced capabilities and tools, and focus on service availability while enhancing observability and reliability. This will help Canara Bank to enhance its customer service experiences.

Kyndryl will also deploy a unified digital IT services dashboard to provide employees with a single pane of glass view of Canara Bank’s key performance indicators, tools dashboard, and knowledge repositories.

Kyndryl will implement a set of advanced tools to create sophisticated preventive and predictive intelligence capabilities. This will help reduce incidents through auto-remediation, shorten maintenance timeframes, and improve application availability. The platform will be optimized to recognize and remediate IT failures and anomalies within the bank’s infrastructure and provide data-driven insights such as outage predictions that will boost the bank’s control over its mission-critical operations.

Lingraju Sawkar, President, of Kyndryl India said, “We’re honored to be a trusted partner to Canara Bank. Our approach is focused on ensuring Canara Bank’s business continuity, mitigating risk, and enhancing the Bank’s key business performance indicators. Kyndryl brings decades of expertise and experience managing mission-critical IT systems for global banking and financial services customers. Our relentless focus on delivery and innovation, our strategic approach to transformation, and the value we place in people make Kyndryl an excellent fit for Canara Bank as it progresses, along with India, on the digital transformation journey.”

Sri K Satyanarayana Raju, MD & CEO, of Canara Bank, said, “Our goal is to improve operational excellence, profitability, and scale to become the ‘Best Bank to Bank with’ in India. We are investing in enhancing our technology core, service and process frameworks, and delivery capabilities to provide state-of-the-art banking services to our customers. Kyndryl’s skills and expertise in building, operating, and managing critical technology for Indian banks will help us in building the future we’ve envisioned.”