New Delhi, Jan. 19 -- Mid-sized IT services firm Aurionpro Solutions has secured a multi-year, multi-million-dollar contract from CSB Bank, a private sector bank founded in Thrissur, Kerala, to implement its next-generation cash management platform, as private sector lenders step up investments in transaction banking technology. The deal includes software licensing, end-to-end implementation and a long-term annual maintenance contract (AMC), the company said on Monday.
The cash management system forms part of Aurionpro's AI-native transaction banking platform, which is designed to support corporate and institutional banking use cases. The engagement will enable CSB Bank to modernise its cash management offerings for corporate and SME customers, improve operational efficiency and enhance digital customer experience.
With this win, Aurionpro adds to a growing list of transaction banking projects with Indian banks, including recent mandates from large public sector lenders, strengthening its presence in the domestic banking technology market.
Under the agreement, CSB Bank will deploy digital cash management capabilities such as collections, dividend warrant management and mandate management, aimed at streamlining corporate payment flows and improving service turnaround times.
"We are pleased to partner with Aurionpro as we accelerate CSB Bank's digital transformation journey," said Pralay Mondal, managing director and chief executive officer, CSB Bank. "The platform will help us deliver more seamless and secure digital experiences for our corporate and SME clients as we scale our transaction banking business."
Ashish Rai, group chief executive officer of Aurionpro Solutions, said the deal reflects rising demand for AI-native platforms in corporate banking. "Indian banks are increasingly rethinking transaction banking to support complex corporate workflows. This engagement reinforces the trust placed in our technology and our ability to deliver large-scale implementations," he said.
Aurionpro has been expanding its banking technology portfolio across cash management, trade finance and payments, as lenders look to upgrade legacy systems amid intensifying competition and rising expectations from corporate customers.
Earlier this year, Aurionpro Solutions Limited secured a Rs.150 crore contract from Delhi Metro Rail Corporation (DMRC) to implement automated fare collection (AFC) systems for the Bhopal and Indore Metro projects, expanding its footprint across India's metro rail network. Under the multi-year agreement, Aurionpro will provide end-to-end AFC implementation, followed by operations and maintenance support for a period of five years.
Published by HT Digital Content Services with permission from TechCircle.