The Himachal Pradesh State Cooperative Bank (HPSCB) has successfully migrated its core banking operations to the globally acclaimed Finacle 10.2.25 platform, marking one of the bank’s biggest technology upgrades.
The new Core Banking Solution became fully operational on Wednesday, following a five-day data migration exercise from July 17 to July 22.
Bank Chairman Davender Shyam described the migration as a landmark step towards modernizing the bank and thanked the Board, Managing Director Vinay Singh, employees and technology teams for executing the complex transition.
He also said Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu congratulated the bank, calling the upgrade a visionary initiative that will deliver faster transactions, stronger cybersecurity and seamless digital banking.
Managing Director Vinay Singh said the migration was essential as the bank’s total business has crossed Rs 30,000 crore amid rising competition. He noted that the upgraded platform will benefit nearly 18 lakh customers served through 262 branches, most of them in rural and remote areas.
The bank said the modernization will improve service quality, strengthen digital capabilities and position HPSCB on par with leading commercial banks while enhancing customer experience across Himachal Pradesh.
