> News > Marcus by Goldman Sachs Deploys Finacle Solution on Cloud for its New Online Lending Business
Published Date: November 30, 2016
New York and Bangalore – November 30, 2016: Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), announced that Marcus by Goldman Sachs has implemented the Finacle Core Banking Solution for its consumer lending operations. Marcus, a brand of GS Bank, has deployed the Finacle solution to manage the complete consumer loan-servicing life cycle. The fully cloud-based model, hosted by Goldman Sachs, allows Marcus to achieve the necessary scale as well as provide enhanced functionality, business confidence, and security to its consumers.
Finacle’s open architecture, integration capabilities, and scalability seamlessly aligned and became part of Goldman Sachs’ wider ecosystem of enterprise applications.
Sanat Rao, Chief Business Officer and Global Head, Finacle:
‘Marcus by Goldman Sachs is displaying exemplary vision in creating new business opportunities by leveraging modern technology. With the Finacle solution, a real differentiated capability has been achieved by delivering personalized offerings and providing a customer experience to compete with traditional banks and new-age alternative lending providers. The implementation once again reiterates Finacle’s industry strengths to enable fast and low-risk digital transformation for financial institutions.’
Boe Hartman, CTO, Marcus by Goldman Sachs (Digital Finance Technology):
‘With the successful deployment of the Finacle Core Banking Solution, we have the ability to respond to customer needs, the scalability to adapt to market requirements whilst providing the superior customer experience required in today’s competitive digital age.’
Marcus by Goldman Sachs provides products to help people manage their finances. The first product from Marcus is a fixed-rate, no-fee unsecured personal loan that enables customers to tailor their monthly payment options to fit their schedule and budget. Marcus, a brand of Goldman Sachs, benefits from the firm’s 147-year history of financial expertise, risk management, and customer service.
EdgeVerve Systems, 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, part of the product company EdgeVerve Systems, a subsidiary of Infosys (NYSE: INFY), is a universal banking solution, and the choice of financial institutions across 94 countries and serves over 848 million customers – estimated to be nearly 16.5 percent of the world’s adult banked population. Over a billion bank accounts are powered by Finacle globally.
To know more, visit www.edgeverve.com
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