Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of
Infosys (NYSE: INFY), today announced the launch of a new offering ‘Finacle as a managed service on Oracle Cloud’. This offering will enable banks globally to leverage Finacle’s industry-leading solution suite, along with other enterprise-class applications hosted on premise or in an external environment, to gain agility and cost efficiencies. With this offering, Finacle becomes one of the first comprehensive banking platforms to be available as a managed service on Oracle Compute Cloud.
- The offering will enable banks of all sizes to run enterprise-class banking applications such as payments and core banking on the cloud
- A range of services will be offered to help banks flexibly design their cloud journey:
- Finacle on Oracle Cloud will offer a choice of no-maintenance cloud infrastructure that can be used on demand for infrequent and seasonal activities such as development, testing, and training
- Finacle clients can also use the managed service for production environments with the new
Oracle Database Exadata Cloud Service, for utmost resilience. A pre-integrated suite of solutions will help clients minimize costs, complexity and efforts of implementations. Finacle’s clients can now reduce infrastructure and application management costs, and service customers efficiently across channels, with a real-time platform
- Banks can choose to leverage the entire banking platform as a managed service or can use specific services such as payments
- The service ensures that banks always have the latest Finacle capabilities available-on-demand to keep pace with changing consumer expectations
Michael Reh, Executive Vice President and CEO (designate), EdgeVerve:
"Up to now, the banking industry has been wary of adopting cloud solutions. The combination of Finacle and Oracle allows financial institutions to benefit from the flexibility and scalability of the cloud with confidence."
Thomas Kurian, President, Product Development, Oracle:
"Infosys Finacle and Oracle have been working together for over a decade now. With the Oracle and Infosys Finacle offerings, banks across the globe can take advantage of the latest Finacle stack along with our industry leading enterprise cloud infrastructure."
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About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and serves over 547 million customers – nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.
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About EdgeVerve Systems Ltd
EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software products and offers them on-premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients’ growth in rapidly evolving areas like banking, digital marketing, interactive commerce, distributive trade, credit servicing, customer service and enterprise buying.
Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our universal banking solution, is the choice of financial institutions across 84 countries and serves over 547 million customers – nearly 16.5 percent of the world’s adult banked population.
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