Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, and Huawei, a leading global ICT solutions provider, today announced the global availability of the industry leading Finacle Universal Banking Solution Suite on Huawei’s FusionCloud based cloud platform. With this joint offering, financial services clients can expect substantial reductions in infrastructure and application management costs with high resilience and enhanced customer service efficiency across channels. The highly available platform will allow customers to run Finacle suite of applications on a private cloud network, delivering considerable performance, maintenance and total cost of ownership advantages.
• As part of this partnership, Huawei and Finacle carried out a benchmarking activity, observed and reviewed by the global advisory firm EY. The test was simulated on a Finacle database size of almost 1 TB, with 6000+ branches, 33 million+ customers, 61 million+ accounts and 20,000+ branch users. 3,846, 000 transactions were successfully processed in a total test duration of 2 hours and 33 minutes at the rate of 627.66 transactions per second in one hour of peak user load
• The solution will provide enhanced agility and quick service rollout, by enabling elastic, on demand and secure computing resource pools, while supporting all-round management and service automation. Customers will gain a range of flexible capabilities such as product factories, extensive parameterization and reusable business rules, and Open APIs, thereby enabling greater agility
• The solution will help reduce operating expenditure by ensuring optimum infrastructure utilization. Besides, customers will enjoy superior operational excellence owing to flexible process orchestration, robotic process automation, straight through processing and industry standards driven integrations
• The solution will provide a real-time 360 degree view of customer with actionable insights from its powerful analytics capabilities, helping banks drive right-sell opportunities and create personalized services for customers. This along with a unified and frictionless omnichannel experience will markedly improve user satisfaction
• Extensive self-service capabilities will allow users to apply for computing, storage and network resources to be allocated on a per use basis. This will thereby reduce dependence on IT support and maintenance resources, and enhance end-user satisfaction
Qian Yuan (Diana), President Marketing and Solution Sales Department, Huawei Enterprise Business Group:
“This new offering from Huawei and Finacle will empower financial institutions with a world class banking software, with competitive capex, reduced opex and superior flexibility in operations. With reduced total cost of ownership and increased return on investment, banks will benefit from substantial savings which can be channelled to accelerate innovation and strengthen profitability.”
Andy Dey, President Customer and Operations, EdgeVerve:
“The increasing digitally native customer base of financial institutions is resulting in rapid increase in transactions loads, pushing the need for flexibility in designing and managing IT deployment strategies. This joint offering from Finacle and Huawei is a perfect fit, bringing to market an industry leading, digital age banking solution suite along with the security, flexibility and scalability of a private cloud.”
Huawei (huawei.com) is a global leader of ICT solutions. Continuously innovating based on customer needs, we are committed to enhancing customer experiences and creating maximum value for telecom carriers, enterprises, and consumers. Our telecom network equipment, IT products and solutions, and smart devices are used in 170 countries and regions, serving more than a third of the world's population.
About Infosys Finacle
Finacle (finacle.com) is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned product 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 94 countries, and serves over 848 million consumers estimated to be nearly 16.5 percent of the world’s adult banked population. Over a billion bank accounts are powered by Finacle globally.
Finacle solutions address core banking, online banking, mobile banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 banks in the world reveals that institutions 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 Ltd
EdgeVerve Systems (edgeverve.com), a wholly owned subsidiary of Infosys, 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. 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, which 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, and 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, 2016. 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. In addition, please note that the date of this press release is September 1, 2016, and 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.
Pilar Elvira Wolfsteller - Infosys, USA
P: +1 510-944-4596 - E: Pilar.Wolfsteller[.]infosys.com.