Equitas Microfinance banks on IBM

INDIA: Equitas Microfinance India Pvt Ltd., a micro finance organization, has selected IBM’s robust hardware platform to run its mission critical core banking application, Temenos. After careful evaluation, Equitas chose to implement IBM’s Power platform and storage over HP and EMC.

Equitas Micro Finance India plans to add a high volume of customers to its existing over 700,000, and operates out of 150 branches in the states of Tamil Nadu, Andhra Pradesh and Maharashtra. Equitas also recently announced expansion plans in Tamil Nadu and Maharashtra.

Due to its aggressive expansion plans, Equitas selected Temenos for Microfinance and Community Banking (T24 for MCB) to support and automate its operations from in a single platform. The application will also help to rapidly define new products and dramatically reduce the time to market. Equitas was looking for a robust, scalable, cost-efficient Infrastructure to run T24. 

“Customer-led product and services development, adaptation and innovation are the guiding principles for Equitas,’ said Mr.H.Mahalingam, CTO Equitas Microfinance India. Keeping this in mind, we independently evaluated IBM hardware alongside competitive platforms to run our core banking application. The value proposition of IBM’s overall solution was unmatched.” 

IBM secured the deal after demonstrating the value proposition on total cost of operation, clear strategy and risk management capabilities, technical capabilities, and an assured roadmap for scalability, says a press release. The IBM solution helps simplify the client's environment without sacrificing performance or availability and improves service time to Equitas customers. In addition, the solution ensures both primary and disaster recovery for business continuity.