Leading supplier of IT solutions to the Indian banking and financial industry, C-Edge Technologies, was recently thrown into the public eye—and not for good reasons. After a significant ransomware attack destroyed its systems, approximately 300 small banks in India experienced a disruption in payment services.
The largest public sector bank in India, the State Bank of India (SBI), and the multinational IT services company TCS formed a joint venture called C-Edge in 2010. The venture was envisioned as a technological powerhouse to meet the unique requirements of Indian banks, especially those in the cooperative and regional sectors.
Banks all over India utilize Finacle, C-Edge’s core banking platform, to handle key banking functions including account administration, transactions, and customer support. Millions of consumers may transact digitally with ease thanks to the company’s array of payment gateway services, mobile banking options, and ATM management systems.
To shield banks from cyberattacks, C-Edge provides a range of cybersecurity solutions, such as threat detection, vulnerability assessment, and incident response. C-Edge uses AI and data analytics to offer solutions and insights in areas including customer relationship management, fraud detection, and risk management.
In India, C-Edge has been a major force towards financial inclusion. Because of its emphasis on offering accessible and reasonably priced technological solutions, smaller banks and financial institutions can now serve a larger clientele, especially in rural and semi-urban regions.
The company provides access to current financial services, such as Internet, mobile, and ATM access, even in isolated locations. It helps businesses increase their clientele and raise the level of financial knowledge among marginalized communities to broaden their sphere of influence. It offers lower operating expenses by using digital technologies to improve efficiency and streamline procedures.