Infosys Finacle, part of EdgeVerve Systems, the product subsidiary of Infosys, and Fubon Bank (Hong Kong) Limited, a wholly owned subsidiary of Fubon Financial Holding Co. Ltd., today announced the bank’s decision to adopt the new generation Finacle Core Banking solution. This transformation initiative will significantly improve the bank’s operational efficiency, strengthen innovation capabilities and support rapid growth.
The solution will help the bank set up appropriate modernization milestones in line with the bank’s transformation strategy. With the new core banking system, Fubon Bank (fubonbank.com.hk) will be able to reduce time and cost to compliance. The new system will also enable the bank to seamlessly integrate multiple channel applications to deliver superior customer experience across devices.
• The migration to Finacle will enable the bank to operate 24/7 across channels, with a 360 degree view of customer relationships;
• The solution's analytics engine will help the bank enhance its customer service with personalized offerings, while creating right-sell opportunities;
• Adoption of enterprise components will boost operational efficiencies by centralizing business operations and standardizing processes across business lines;
• It will help reduce technology management costs by replacing and optimizing multiple systems;
• The bank will also be able to easily create and rapidly take new products to market, with the flexibility to introduce new features as required.
Michael Reh, Executive Vice President and CEO (designate), EdgeVerve
"Finacle has an excellent track record with banks of all sizes, having helped our clients attain exceptional growth and build long-term capabilities. By adopting our core solution, banks have a proven technology platform and a reliable partner to improve their operational efficiency and to embrace new-age channels and enhance customer experience. We look forward to supporting Fubon Bank in delivering a value-driven experience to its customers and achieving market-leading growth."
Raymond Lee, CEO & Managing Director, Fubon Bank (Hong Kong) Limited:
"We are committed to our service-oriented approach. Over the years, we have continued to expand our franchise by improving our service delivery capabilities. The replacement of the core banking system not only provides us with a holistic approach to customer relationship management, but also enables us to significantly improve our operational efficiency, risk management and management information system."
About Infosys Finacle
Finacle (finacle.com) is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and serves over 547 million customers nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.
About EdgeVerve Systems
EdgeVerve Systems (edgeverve.com), a product of Infosys (NYSE: INFY), develops innovative software products and offers them on-premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our 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. Infosys Finacle, our universal banking solution, 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.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995. These involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
Paul de Lara - Infosys, UK
P: +44(0)20 7516 2748 - E: Paul_deLara[.]infosys.com.
Cristin Balog - Infosys, USA
P: +1 650-320-4126 - E: Cristin_Balog[.]infosys.com.