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Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced a partnership with Moneythor, a Singapore-based data-driven digital banking provider. The Moneythor platform, integrated with Finacle, will enable financial institutions deliver personalized recommendations and insights to customers on numerous digital channels and devices.
With increasing demands from customers and businesses, many banks are struggling to provide contextual and proactive assistance across their digital channels. The new integrated solution will help banks to offer data-driven recommendations and smart Personal Financial Management (PFM) features within their existing online and mobile banking applications.
Moneythor (moneythor.com) is one of the companies that was recognized as part of the Finacle FinTech Connect, an initiative that builds on ongoing alliances and the Infosys Innovation Fund program to identify promising new FinTechs.
Highlights
• The joint solution will offer an engine to classify, analyze and augment transaction data in order to generate better insights for the banks and their customers
• The integrated solution will bring new interactive features and enriched transaction data, thereby enhancing customer engagement across digital channels
• The solution can also be utilized by banks to publish tailor-made interactive content to assist customers with their money management needs, as well as providing contextual offers
• Rule based capabilities and statistical algorithms will allow the solution to deliver data-driven personalized recommendations and insights with a quick time-to-market
Quotes
Sanat Rao, Chief Business Officer, Infosys Finacle:
“At Infosys Finacle, we are committed to enhancing customer experience and providing continuous thrust on collaboration with our clients and partners. In pursuit of this, the FinTech Connect program helps us expand the innovation ecosystem and bring to the fore promising startups. Moneythor’s innovative offering will complement the Finacle suite of digital channel solutions, strengthening our value proposition and paving way for an improved digital banking experience for clients.”
Olivier Berthier, CEO, Moneythor:
“We are delighted to assist Infosys Finacle in creating more value for their banking clients through innovative capabilities powered by our Moneythor solution. We are always on the lookout for partners to combine their domain expertise and solutions with Moneythor. Infosys Finacle offers such an opportunity and we are looking forward to a productive partnership.”
About Infosys Finacle
Infosys 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 94 countries and serves over 848 million customers estimated to be 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.
Safe Harbor
Certain statements in this 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, 2017. 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 mentioned at the beginning of the release, 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.
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