In This Article:
Bank of Sydney has selected Infosys Finacle Digital Banking Suite to spearhead its digital banking upgrade, aiming to enhance customer and staff experiences and achieve cost efficiencies through digitisation and automation.
Infosys Finacle, a part of EdgeVerve Systems and subsidiary of Infosys, will provide the bank with a suite of solutions hosted on AWS cloud in a SaaS model.
The suite includes Finacle Core Banking Solution, Digital Engagement Hub, Online Banking, Mobile Banking, and Digital Onboarding solutions.
With these tools, the bank expects to expedite transformation with the Finacle Reference Bank, which offers preconfigured, Australia-specific banking products and processes.
The upgrade is anticipated to offer BoS customers improved digital services across multiple channels, including mobile and online banking.
It also aims to consolidate the bank's IT infrastructure by phasing out several existing applications to lower technical debt.
The suite supports configuration-driven capabilities, coupled with integration through open APIs.
Bank of Sydney CEO Melos Sulicich said: “At Bank of Sydney, our strategic goal is to become the leading deposit bank in Australia and to drive significant business growth in the coming years.
“Transforming our technology stack, centred around our core and digital banking platform, is crucial to meeting these objectives. With Infosys Finacle, we have a proven transformation partner and a next-generation banking platform to address the evolving needs of our business, customers, and regulatory ecosystem.”
Infosys Finacle chief business officer and global head Sajit Vijayakumar stated: “This partnership underscores our commitment to providing flexible and affordable modernisation solutions to Australian financial institutions. With Infosys Finacle’s advanced cloud-native suite on AWS, Bank of Sydney will benefit from a modern, customer-centric digital banking platform, enabling better engagement, innovation, and operation. We look forward to supporting our customers in Australia and helping them thrive in the digital age.”
Recently, Norway’s DNB Bank ASA expanded its partnership with Infosys, employing the Infosys Finacle platform to modernise its IT systems.
"Bank of Sydney selects Infosys Finacle to upgrade IT landscape " was originally created and published by Retail Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.