Infosys unveils next gen banking solutions 'Finacle 10'

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Bangalore, Feb 20: Global IT major Infosys Technologies today announced the global launch of Finacle, version 10 to reinforce its global leadership in banking transformation.

The latest version of core banking software was a highly sophisticated and advanced system that had been built with an investment of over 240,000 person days and investment of over 60 million Dollars in the last three years, which was the highest amount of manpower and money spent on any software product in the world, Infosys member of the Board T V Mohandas Pai said.

Speaking at the launch, he said 105 banks across 60 countries and 32,000 branches belonging to 31 banks within India, was using the Finacle software that can perform 100 million transactions per hour and could be used by 1.3 lakh persons concurrently.

"Finacle is core of our growth strategy. Finacle Universal Banking Solution, integrated with Infosys' services like software integration, consulting and BPO will offer banks a truly differentiated transformation model," he said.

Finacle was a technically strong software solution that comes with SOA, BPEL-enabled workflow and advanced security and compliance framework. It delivered significant improvement in productivity and greater readiness to manage security and regulatory challenges, he said.

A set of 5000 parameters and an enhanced scripting studio would deliver rapid product innovation. The new version also brings with it a whole new set of offerings including Islamic banking, wealth management and an enhanced mobile banking solution, he added.

Finacle Business Head M Haragopal said that the new version had a powerful multi-country infrastructure. It had already been bought by seven tier-1 and Tier-2 banks around the world to power their domestic and international operations, he said.

Top analysts including Gartner, Forrester and Clent had certified Finacle as one of the leaders in the core banking solution space, he added.

Infosys had clinched 14 deals for its Finacle product during the first nine months amounting to 220 million dollars to be spent by banks over a period of next three years, he added.


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