India’s Ratnakar Bank Teams with IBM to Engage Millennial Customers with Mobile Apps

The IBM MobileFirst Platform Improves the User Experience and Makes It Simple and Secure to Manage Expenses and Financial Plans

Bengaluru, India - 12 Feb 2015: Ratnakar Bank Ltd. (RBL), one of India’s fastest growing commercial banks, announced today it is teaming with IBM (NYSE: IBM) to help Millennial customers better manage expenses and plan for their financial future.

The bank will cater to Millennials' mobile and social lifestyles with new apps to support financial planning, expense calculation, and financial portfolio management. With mobile as the cornerstone of building a banking relationship with these customers, also known as Generation Y, RBL is focused on developing a strategy that tailors the mobile experience to meet the high expectations for convenience and simplicity that users expect.

With more than 900 million mobile subscribers in India and growing, RBL is using the IBM MobileFirst Platform to build, deploy, manage its apps and integrate with RBL's core banking system to ensure secure transactions and help the bank improve customer and employee engagement. 

“In a highly competitive and demanding Indian market where mobile adoption and penetration is one of the highest in the world, the IBM MobileFirst Platform will help us target and acquire new customers across segments,” said Sanjay Sharma, Head - Technology, Innovation and Customer Fulfilment, Ratnakar Bank India Ltd. “The bank’s new apps will help us better connect with our customers and add to our long standing commitment to creating consistent, engaging customer experiences.”

Now, RBL customers will be able to interact with the bank through the app, website, at kiosks and branch locations to manage their accounts and finances, pay bills, transfer funds, view mini statements, open fixed or recurring deposit accounts, request cheque books, stop payment of cheques and various other features. The solution will also enable better managed processes for loan origination, regulatory compliance, account opening and credit approvals.

IBM and RBL will also build a set of internal apps for employees to improve workplace productivity.

“The IBM MobileFirst Platform has enabled the bank to rapidly roll out new apps and features for its growing customer base,” said Hitesh Shah, Director, Software Segment, IBM India. “The new apps give RBL customers and employees efficient and secure ways to do any kind of banking no matter where they are.”

About Ratnakar Bank Limited Ratnakar Bank Ltd. is one of India’s fastest growing scheduled commercial banks with an expanding presence across the country. It has currently grown to a network of over 180 branches / 350 ATMs across 12 Indian states and has been rated as "India’s Best Bank (Growth)"in the mid-sized bank segment by Business Today-KPMG study in 2012 & 2013. For more information, please visit

About IBM MobileFirst IBM’s 6,000 mobile experts have been at the forefront of mobile enterprise innovation. IBM has secured more than 4,300 patents in mobile, social and security, which have been incorporated into IBM MobileFirst solutions that enable enterprise clients to radically streamline and accelerate mobile adoption, help organizations engage more people and capture new markets. Through IBM's partnership with Apple, the two organizations are transforming enterprise mobility with a new class of industry specific business apps. For more information on IBM MobileFirst, visit the press kit or Follow @IBMMobile on Twitter, and see IBM MobileFirst on YouTube, Tumblr and Facebook.

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