SBI loops in Aurionpro for cash management & transaction banking platform

Technology solutions company Aurionpro Solutions has secured a ₹100 crore contract from the State Bank of India (SBI). Under the partnership, the technology solutions provider will offer its cash management and transaction banking platform, ‘iCashpro+’ to the bank that would help it in streamlining its processes.

The company said that the implementation of iCashpro+ will occur in stages over the next 12 months, with an additional six years allocated for maintenance and support services. With this move, SBI will upgrade its current Cash Management Product (CMP) platform to stay ahead.

The partnership is also expected to establish ‘iCashpro+’ as a preferred solution for banks to fulfil their requirement of a cutting-edge transaction banking system. The platform is built on modern cloud technology and a microservices-based architecture that incorporates the latest market features, ensuring interoperability with leading enterprise resource planning (ERP) solutions, fintechs, and open banking platforms. This will also empower SBI to meet evolving customer expectations and adhere to industry standards. 

Ashish Rai, CEO of Aurionpro, said, “We take pride in being the technology partner of choice for State Bank of India in their quest for digital transformation. Our solutions combined with SBI's vision will pave the way for a seamless and future-ready Cash Management System, delivering unparalleled value and convenience to customers." 

This announcement follows Aurionpro's recent partnership with the Haryana government for its Haryana Antyodaya Parivar Parivahan Yojana (HAPPY) Scheme. Valued at nearly ₹100 crore, this multi-year project aims to provide free transportation to individuals below the poverty line within the state. The initial phase is slated for completion within six months, followed by ongoing maintenance services.