Himachal Pradesh Cooperative Bank Embraces Digital Future with Major Tech Upgrade

In a landmark move to modernize its services, the Himachal Pradesh State Cooperative Bank, supported by NABARD, has partnered with leading tech firms to revolutionize its digital banking infrastructure. The bank has signed a Service Level Agreement (SLA) with M/s EdgeVerse Systems (an Infosys subsidiary) and M/s Dynacons Systems & Solution Ltd to upgrade its Core Banking Solution (CBS) to the advanced Infosys Finacle 10.2.25.

The agreement was formally inked by Managing Director Sharwan Manta in the presence of Chairman Davender Shyam and NABARD’s Chief General Manager (Shimla), Dr. Vivek Pathania, marking a significant milestone in the bank’s digital transformation journey.

A Leap Toward Seamless Banking

With the upgrade underway, the bank has begun migrating data to the new system, aiming for completion by March 2026. Chairman Davender Shyam hailed the move as “historic,” emphasizing that the outdated CBS had long caused customer inconvenience and operational inefficiencies. The current Board of Directors, formed in 2023, prioritized adopting a cutting-edge, customer-friendly platform to keep pace with the rapidly evolving banking sector.

What Customers Can Expect

Managing Director Sharwan Manta highlighted that the new Finacle system will:
✔ Enhance cybersecurity to safeguard customer transactions
✔ Streamline banking operations for faster, smoother services
✔ Introduce full-fledged digital banking, including UPI-based payments, matching the offerings of leading private and nationalized banks

This transformation is set to boost business growth, improve customer experience, and attract tech-savvy younger customers, ushering in a new era of digital banking for Himachal Pradesh’s cooperative sector.

With this upgrade, the bank reaffirms its commitment to progress, efficiency, and customer satisfaction, ensuring it remains competitive in the digital age.