Press Release

North East Small Finance Bank upgrades its Core Banking System to M2P’s Turing

~ M2P’s Turing to provide next-gen digital technology led solutions ~

North East Small Finance Bank, wholly owned subsidiary of RGVN (North East) Microfinance Limited, has migrated its Core Banking System to M2P’s Turing CBS, the market leading digital Core Banking System. With 225+ branches in Assam, North East Small Finance Bank has been able to effectively migrate from traditional banking solutions to M2P’s Turing CBS, a digital core banking platform.

As a part of the bank’s technology refresh to meet its growth plans, the bank has partnered with M2P for its suite of digital accelerator platform that includes the following broad components:


  • Turing digital Core Banking System (Turing CBS)
  • Integrated payments hub that includes Debit Card Management System, Unified Payments Interface,  National Automated Clearing House system, Mobility, SFMS, IMPS, and other related modules
  • Back office platforms including Treasury systems, Digital Identity, Centralised KYC processing system, Loan Origination System, systems to track compliance to Anti-Money Laundering controls.


The unique aspect of the upgrade is the speed of execution, the journey from receipt of data from the legacy system to plugging the gaps as per bank’s requirements and completing User Acceptance Testing leading up to Go LIVE were completed in under 3 months.


Dr. Ram Krishna Garg, Chairman, North East Small Finance Bank, said, “We wanted to migrate to a digital Core Banking System which will help us improve our operational efficiency and reduce costs associated with manual processes. This will help us enhance our customer experience with personalized, real-time features and data analytics. We’re happy to have partnered with M2P for their Turing CBS offering which enabled a smooth transition without data loss and in a quick span of time.”


“As part of our journey towards digital growth and acceleration, we migrated our traditional Core Banking System to a digital Core Banking System with M2P’s Turing CBS. This will help us introduce new products and services with ease apart from improved efficiencies, ” said Rupali Kalita, Managing Director and CEO, North East Small Finance Bank.  


Satish Krishnaswamy, Head of Banking Business, M2P Fintech commented, “We are thrilled to partner with North East Small Finance Bank and support their digital transformation journey. Our Turing digital core, integrated payment hub, and RegTech systems provide a comprehensive suite of solutions that can help banks optimize their operations, enhance customer experience, and comply with regulatory requirements. This accomplishment exemplifies M2P’s dedication towards innovation and enabling banks to provide their consumers with best-in-class digital experiences. We look forward to continuous collaboration with North East Small Finance Bank and other industry-leading financial institutions to accelerate their digital transformation efforts.”

This successful transition reinforces M2P’s position as a trusted partner for banks and financial institutions in their digital transformation journey.

M2P’s Turing CBS is a modern core banking system that offers cutting-edge security, lightning-fast processing, backed by ease of data migration. The comprehensive platform comes bundled with Enterprise Service Bus and an API manager to cater to embedded journeys, treasury platforms, natively integrated payment processing systems to cater to burgeoning payment ecosystem including cards, AEPS (Aadhaar Enabled Payment System), UPI (Unified Payments Interface), and IMPS (Immediate Payment Service) to name a few. Banks also have the option to leverage distinct features around AI/ML capabilities for financial risk management, low-code platform, and agility to hyper-personalise offerings.


About North East Small Finance Bank:

North East Small Finance Bank, founded in the year 2015, is the wholly owned subsidiary of RGVN (North East) Microfinance Limited. It offers products like – CA, SA, FD, RD, Cards, Loans (Agri loan, SME loan, Term loan, Home loan, Micro-finance, Personal loan etc.). They have over 225+ branches across Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Sikkim, and West Bengal.

About M2P Fintech

Founded in the year 2014 and headquartered in Chennai, M2P Fintech is Asia’s largest API infrastructure company offering a wide gamut of services that enable businesses of any scale to embed financial services. M2P Fintech is an omni-channel platform that operates in over 20 markets across the Asia Pacific, MENA, and Oceania regions. M2P pioneers next generation financial services products through innovative offerings, and powers 300+ banks, 100+ NBFCs, and 800+ fintech engagements across various industries serving over 35 million end users. Our comprehensive technology stack powers the core banking system, core lending suite, BNPL, customized credit cards, prepaid cards, and much more.


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