Infosys Finacle Teams with Oracle to Offer Finacle on Oracle Cloud

Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys, 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.

Michael Reh, Executive Vice President and CEO (designate), EdgeVerve said “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.”

Highlights:

  • 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:
    1. 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
    2. 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

Thomas Kurian, President, Product Development, Oracle said. “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.”

EdgeVerve Systems, a wholly owned subsidiary of Infosys, and develops innovative software products and offers them on-premise or as cloud-hosted business platforms. Their products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. They power 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, Is their universal banking solution, and 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.

To know more, visit www.edgeverve.com

Author: Jason Williams

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