Dynacons Secures INR 108 Crore Follow-Up Order from NABARD for Advanced CBaaS Solution
Dynacons Systems & Solutions Ltd., a leading technology solutions provider in India, has secured a significant follow-up contract valued at INR 108 crore from the National Bank for Agriculture and Rural Development (NABARD). The contract involves upgrading and migrating NABARD’s Core Banking Solution (CBS) from Finacle 7.0 to Finacle 10.2.25, utilizing the Application Service Provider (ASP) model. The project aims to serve 615 branches across 20 State Cooperative Banks and District Central Cooperative Banks in Haryana. The five-year agreement includes extensive maintenance support for NABARD and the associated state cooperative banks, with dedicated onsite skilled resources and adherence to stringent Service Level Agreements (SLAs).
Key Highlights
- Dynacons has secured a follow-up order worth INR 108 crore from NABARD for an advanced Core Banking as a Service (CBaaS) solution.
- The project involves upgrading and migrating NABARD’s Core Banking Solution (CBS) from Finacle 7.0 to Finacle 10.2.25 using the ASP model.
- Dynacons will serve 615 branches across 20 State Cooperative Banks and District Central Cooperative Banks in Haryana.
- The five-year agreement includes extensive maintenance support for NABARD and the associated state cooperative banks.
- The contract is structured on an Operating Expense (OPEX) basis, ensuring recurring revenue over the five-year term.