Kyndryl will enhance the Bank’s core IT infrastructure, power new digital banking capabilities, and provide risk and regulatory compliance support Kochi, Kerala, Bengaluru, Karnataka, India – Business Wire India Kyndryl, a leading provider of mission-critical enterprise technology services, has been selected by ESAF Small Finance Bank, a new age bank with over nine million customers and 787 branches across India, to transform and manage the mission-critical technology that underpins its operations and future banking capabilities.

Kyndryl Consult, Kyndryl’s technology advisory services, and Kyndryl Vital, the Company’s innovative design-led co-creation approach, will support ‘StratoNeXt,’ ESAF Bank’s digital initiative to modernize its technology. Through this partnership, Kyndryl will engage with ESAF Bank to build a modern, regulatory-compliant infrastructure and update and migrate enterprise applications to this new environment - enabling greater agility, high-availability and sustained innovation.

Lingraju Sawkar, President, Kyndryl India, said, "India’s growing rural banking sector is a key pillar to address the increasing demand for affordable credit. Our deep expertise in technology and experience in managing mission-critical banking and financial services systems in India uniquely positions Kyndryl to support ESAF Bank’s vision of promoting financial inclusion and economic development. We look forward to growing our engagement with ESAF Bank to help it unlock new growth opportunities in its digital transformation journey.” George K John, Executive Director, ESAF Small Finance Bank, stated, “ESAF Bank’s journey towards becoming India's premier social bank is anchored in our steadfast commitment to inclusive and responsible banking, where we leverage technology to seamlessly blend digital innovation with meaningful physical interactions, thereby delivering personalized, accessible, and engaging customer experiences to uplift communities. By modernizing our technology infrastructure and enhancing our service delivery capabilities under the strategic ESAF 2.0 StratoNeXt project, we aim to deliver a secure, seamless, and customer-centric digital banking experience. Our goal is to empower not only our customers but also the broader communities we serve. The partnership with Kyndryl significantly advances this vision.” As part of this strategic collaboration, Kyndryl will implement a comprehensive, multi-layered cybersecurity framework designed to strengthen the bank’s cybersecurity posture. This robust security architecture will facilitate ESAF Bank’s ability to efficiently introduce innovative security-rich banking solutions, enabling minimal disruption to operations.

Kyndryl plans to establish a dedicated support and delivery center in Kochi this year to provide services for ESAF Bank and other customers. This strategic expansion will harness Kerala’s skilled technology workforce to reinforce and deploy Kyndryl’s advanced delivery capabilities for their customers in South India and generate local employment opportunities.

About ESAF Small Finance Bank ESAF Small Finance Bank began its operations in 2017 with a strong focus on promoting social and financial inclusion. The Bank serves the underserved and unserved—especially women, micro-entrepreneurs, and rural communities—through a community-centric approach that combines technology with deep local insights. Guided by the values of People, Planet, and Prosperity, ESAF champions sustainable development by reinvesting a share of its profits into impactful social initiatives. As of March 2025, it operates 787 branches, 693 ATMs, and 1,106 Customer Service Centres across 24 states and two union territories. ESAF’s journey is backed by a 33-year legacy, rooted in its origins as a mission-driven NGO founded in 1992.

About Kyndryl Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.

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Regulatory compliance-driven IT modernization enables secure digital banking transformation with enhanced cybersecurity and managed services. ESAF Small Finance Bank has engaged Kyndryl to modernize and manage its core IT infrastructure and migrate enterprise applications under the StratoNeXt initiative, focusing on creating a regulatory-compliant environment that enhances agility and high availability. The scope includes advisory and design-led services, a multi-layered cybersecurity framework, and risk-and-compliance support to enable secure, minimally disruptive rollout of new digital banking services. Kyndryl will also set up a dedicated support and delivery center in Kochi to provide managed services and local employment.