Bengaluru, India – December 16, 2020
Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, and RBL Bank, one of India’s leading private sector banks, announced that the bank will migrate from an on-premise deployment to a modern Cloud Native Computing Foundation (CNCF) Certified, Kubernetes managed, containerized ecosystem.
The shift will enable RBL Bank to power its business with a state-of-the-art private cloud architecture, enabling it to cost-effectively scale at will, while delivering new digital banking capabilities at speed. The bank will gain from the automated, self-service capabilities of the cloud-native architecture to realize greater responsiveness, agility and reliability required to succeed in today’s digital reality.
Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, “Today, more than ever, customers demand round-the-clock, personalized banking services – on bank’s digital channels as well as third party applications. RBL Bank has always been committed to staying contemporary when it comes to digital banking paradigms to successfully meet customer demands. We believe the upgraded digital banking platform, on a cloud-native architecture, will help accelerate innovation at RBL, enable deeper customer engagements and drive extensive automation to achieve operational excellence.”
Sankarson Banerjee, Chief Information Officer, RBL Bank, said, “Even as our customers shift and readjust how they bank in these challenging times, it is our continuous endeavor to provide them with a world class customer experience. When combined with the flexibility to elastically scale our applications and microservices, we will be better placed to meet our digital transformation goals. We’re investing in this new platform to gain exponential benefits in reducing costs, increasing efficiency, lowering cost to serve and ultimately, a better customer experience. Finacle’s microservices and API based architecture forms the foundation on which we react to market requirements faster and remain ever ready to serve digitally native customers.”
RBL Bank is one of India's fastest growing private sector banks with an expanding presence across the country. The Bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets, Development Banking and Financial Inclusion, Treasury and Financial Markets Operations. It currently services over 8.49 million customers through a network 1,631 Offices (386 Branches & 1,245 BC Branches) spread across 28 Indian States and Union Territories. To know more, visit https://www.rblbank.com/
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking Solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.
To know more, visit www.finacle.com
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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