Infosys Secures Core Banking Transformation Order From Philippines' Bank Of Commerce

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Bank of Commerce (BankCom), an affiliate of San Miguel Corporation (SMC) group and one of the fast-growing universal banks in the Philippines, on Wednesday announced the bank’s decision to select Infosys Finacle Suite for its core banking transformation, the company announced through an exchange filing.

The Infosys Finacle Suite of offerings, which includes Finacle Core Banking, Finacle Liquidity Management and Finacle Customer Data Hub solutions, will replace BankCom’s legacy platform and help the bank engage, innovate, and operate better to keep pace with evolving market expectations.

Key highlights of the digital transformation include:

• Finacle’s componentized core banking solution will allow BankCom to replace the existing legacy core systems in a risk-mitigated manner to digitally transform its business.

• The Finacle Core Banking solution will provide the bank with a comprehensive set of capabilities, including flexible product factories that will enable BankCom to unlock innovations with simple configurations to introduce differentiated products and services.

• The Finacle Liquidity Management solution will enable BankCom customers to identify, manage, and optimize liquidity across borders, currencies, and banks, on the go and on a device of their choice.

• The Finacle Customer Data Hub solution will help unify customer data management across the organization. It will empower BankCom users to have a real-time view of customer relationships across platforms and channel applications. The solution will deliver a strong digital foundation to create and deliver personalized services and experiences.

Infosys Limited shares

The shares of Infosys on Wednesday at  2:19 pm IST were trading at Rs 1,457.85, up by 1.05 percent.