Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced an extension to its partnership with Microsoft Corp. As part of this collaboration, the Finacle suite of solutions will be available on Microsoft Azure. This offering will allow banks to utilize Finacle’s award-winning solutions, along with the robust capabilities of Azure, enabling them to operate at lower costs and with greater agility.
- Through this offering, banks of all sizes across the globe can leverage Finacle on the cloud. It will help Finacle’s clients reduce infrastructure and technology management costs, and gain flexibility to scale operations rapidly
- Banks can design their journey to the cloud with a variety of flexible deployment options. They can choose to use Azure as a production environment or for development and testing purposes. They can also leverage hybrid models to process peak loads by utilizing ‘cloud bursting’ techniques, while continuing to run routine operations on an in-house environment
- Banks can now pay only for the resources consumed, thereby reducing their capital and operational expenditure
- With cloud deployments, banks can also leverage new innovations from Finacle on an ongoing basis, and minimize the costs and efforts of implementation
Michael Reh, Senior Vice President and Global Head, Finacle, Infosys:
“The adoption of cloud in the banking sector has been relatively slow due to rising concerns about security, reliability and compliance. Banks are seeking opportunities to flexibly design their cloud deployment strategies so that they can cater to the increasing load of transactions from digital natives, while reducing technology management costs. Finacle on Azure will offer significant flexibility to banks to design their cloud approach. With Azure running on a network of Microsoft-managed datacenters across 19 regions and Finacle’s experience of delivering solutions across 84 countries, banks across the globe can enjoy the benefits of this partnership.”
Karen Cone, General Manager Worldwide Financial Services, Microsoft Corp.:
“The need for financial institutions to become digital businesses is more acute than ever. After multiple years of disruption, very few still need to be convinced of the inevitability of digitization, and the need to re-invent business processes and new business models. The cloud in financial services is game-changing in providing the industry with unprecedented opportunities to operate at lower costs with greater agility. Microsoft is therefore delighted to announce an extension to its partnership with Infosys. With the Finacle suite of solutions on Azure, we will support financial institutions in opening doors to a new era of agility and innovation in a security-enhanced environment, while impactfully shrinking their IT infrastructure costs.”
Craig Focardi, Principal Executive Advisor, CEB TowerGroup:
“The complexity of legacy core banking systems has slowed down the pace at which larger banks are reengineering their in-house systems to become fully digital. It is easier for smaller banks to pursue new cloud-based banking solutions due to simpler IT environments. However, large banks require a combination of hosting and component-based core technology, from trusted partners, which can provide the security, scalability, and risk management controls they require. This alliance provides a flexible suite of core banking system components that banks of all sizes can choose from, to incubate new service delivery models, to improve customer engagement, and to enhance their growth opportunities.”
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 176,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations 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 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, and unauthorized use of our intellectual property and general economic conditions affecting our industry. 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, 2014 and our Forms 6- K for the quarters ended June 30, 2014, September 30, 2014 and December 31, 2014. 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. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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.