Infosys to offer financial services to US banks

Global software firm Infosys will offer its flagship Finacle product to service US banks' Verizon cloud platforms.

"We will offer solutions to US banks and financial institutions through the software-as-a-service (SaaS) model, which is serving 547 million customers worldwide," the city-based bellwether said in a statement on Friday.

The US-based Verizon Communications operates the country's wireless network with 109 million retail connections nationwide. Its enterprise solutions arm helps clients to improve performance and manage risk using multiple platforms over its secure mobility, cloud computing, and networking.

"Our financial services provide a single real-time view of customers, members, products and transactions. We help banks and credit unions to enhance operational efficiency, speed to market for new offerings and reduce time and cost of compliance," said Infosys vice-president Michal Reh.

Finacle's SaaS offering will empower financial institutions to deliver a multichannel experience to customers, without much capital infusion and greater flexibility.

"As providing real-time and compelling customer experience across multiple channels is a difficult task even for financial institutions (FIs), Finacle solutions on Verizon cloud will be able to provide banking services to their customers without major investment," Reh said.

Flexibility of the service helps financial institutions comply with evolving federal and state statutory requirements.

"FIs will benefit from Finacle's solution coverage and high-performance platform hosted on our cloud to help improve agility, achieve sustainable, profitable growth and drive their business," Verizon vice-president Adam Famularo said on the occasion.