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ESDS' hallmark journey for transforming co-op banking sector documented in leading media house paper

Posted By: ESDS | Posted On: May 24, 2018 10:47 am
ESDS has been providing the best breed of services in the banking sector inclusive of top infrastructure and advanced technology along with Uptime certified Tier III security for core banking needs. We have a history for successfully implementing core banking solutions for various banks which has proved to be beneficial and profitable for their operations. Our journey of collaborating with over 270 co-operative banks in the country (currently 280) was recently included as a case study in leading media conglomerate Times Of India Group's ET Cases Book, which is an initiative to create value for entire management community. Our case study talks about various challenges in the banking sector faced by multiple BFSI segments and how we took a step forward to help them with complete solutions. Our manuscript titled "270+ Co-operative Banks in India Choose ESDS Cloud Hosting Services" has been adapted in the book "Effective Decisions For Effective Managers - A Case Study Approach" under the Finance category.

Mr. Piyush Somani, CMD & Founder of ESDS, had to say a few words for this incredible achievement, "It is an honor to be part of such a rich and prestigious compilation of case studies that is meant to empower managers and management students across the nation. When ESDS invented the concept of Community Clouds in 2011 in the IT industry, ESDS' BFSI Community Cloud was rapidly consumed by hundreds of banks as we handheld them through their digital transformation journey. This journey is worth being documented and studied further".

This book will significantly help many managers from a wide range of business firms and industries along with faculties of leading business schools like IIM Trichy, IIT Kharagpur, IIM Kozhikode, FLAME, IMT Nagpur, etc. and managers-to-be. ESDS' paper on co-operative banking consists of many unique cases which will prepare the future decision makers to learn from previous experiences. Enabling continuous partnership and value sharing, every case study in the book has been chosen to enable effective and productive classroom learning for students as well as efficient and effective decision making for managers.

Readers will be able to understand the common and uncommon problems banks face through reading this book and how ESDS tackled each and every problem with confidence while providing the best solution they required. The Co-operative Banking sector, before coming in association with ESDS in November 2011, lacked a stable IT infrastructure. Banks back then were far from from adopting technological trends; the staff too wasn't technically sound and open to adopting new technologies. IT heads were posed with several challenges, a prime challenge being connectivity in remote locations and high bandwidth cost. Banks were completely unaware of Cloud technology and the banking services that the Cloud platform could provide. ESDS' team went the extra mile to educate the banks IT decision makers about the importance of adopting cloud and how they can successfully implement banking solutions on their cloud platform.

ESDS firmly believes that co-operative banks are a crucial component of our rural economy and while they play such a major role in our economy, they still remain the unsung heroes. ESDS stepped in as a revolutionary of sorts in the Co-operative Banking sector at such a time. Since banks were unaware of what a commercial Data Center and CSP meant and what it could do for them, the ESDS team went the extra mile and held cooperative conclaves and events. During these events we educated and trained bankers about Cloud technology including cloud hosting, DC, servers and ESDS' role and functions. ESDS made these banks aware about their needs and suggested that they can implement these solutions in their banks. Banks needed a complete solution including both Core Banking Service and Hosting as a package. Thus, strategic partnerships were created between ESDS and top Core Banking Solution Providers. This innovative model pioneered by the ESDS' team came to be known as the Application Service Provider (ASP) model that comprised of CBS, Cloud Hosting, Managed Services, DR and Uptime amongst other things. Eventually, more than 280 co-op banks have chosen this model to leap ahead in the race towards digitalization.

ESDS was extremely proactive while dealing with various banks and provided them with solutions which helped them solve their concerns. We also enhanced many banks knowledge by teaching them the need of this technology and pointing them towards the right direction.

There are several case studies on leading brands such as Dettol, Grasim, KFC, Bahubali's (Movie) digital marketing strategies, Croma and others have been included in the book. Papers on several leading personalities such as business tycoon Ratan Tata, Novel Peace Prize winning activist Malala Yousafzai, legendary boxer Mike Tyson, Bollywood superstar Aamir Khan and others have also been included in this book.

https://www.esds.co.in/read_news?newsid=60

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Tel: +91 (253) 6636500
Email: vishal.joshi@esds.co.in
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