India Post has played a crucial role in the country’s socioeconomic development for more than 150 years, providing financial services to more than 650 million bank account holders across its large network of post offices. In order to promote greater access to financial services for India’s rural poor, India Post has implemented a new core banking system across more than 25,000 of its locations, replacing the manual paper-based account processing methods previously in use. Through this banking modernization project India post was able to digitize 650 million accounts across 25000 post offices across India.
India Post – World’s largest core banking transformation was recognized as the Best Tech Overhaul Project at Banking Technology Awards 2017
Infosys Finacle offering were recognized at Juniper Future Digital Awards for Commerce & Fintech 2017. Infosys Finacle Mobile Payments Offering was recognized as a winner in the ‘Mobile Payments – Best Contactless Technology/Solution’ category and Infosys Finacle Mobile Teller Solution was highly commended in the ‘Digital Banking – Best System Solution’ category. Every year Juniper Research identifies organizations that have made outstanding contributions to their industry, and who are positioned to make a significant impact in the future. The awards are decided by a panel of expert judges based on a number of criteria, including: Product features and user benefits; Innovation; Commercial partnerships; Commercial launches; Certification and compliance; Potential future business development.
“This award is a testimony of our ability to deliver market leading digital banking solutions globally,” said Rajashekara V. Maiya, Head of Product Strategy, Infosys Finacle. “Digitization is transforming every facet of banking. At Infosys Finacle, we deliver a comprehensive suite of digital banking and payments solutions to help banks consistently innovate and stay ahead of the curve.”
Infosys Finacle, along with its clients, were felicitated with two awards for banking technology excellence at the Middle East & Africa edition of the Asian Banker awards for 2017. The awards for Finacle’s class leading core banking solution stand testimony Infosys Finacle’s new age digital banking solutions and implementation excellence that powers digital transformation strategy of banks across 94 countries.
United Bank for Africa and Infosys Finacle win Best Core Banking Implementation Award, Africa
United Bank for Africa, one of the largest banks in Africa, migrated to the latest version of Finacle solutions across its operations in 19 countries. The multi-country transformation, covering the implementation of the latest versions of Finacle core banking, online banking and treasury systems in three languages (English, French and Portuguese), was completed in a record span of 25 months. The project automated processes and integrated customer information that significantly lowered the transaction processing time by over 30% and the account opening time to two minutes, thereby, helping the bank become more customer centric and agile.
Emirates Islamic Bank and Infosys Finacle win Best Core Banking Implementation Award, Middle East
Emirates Islamic Bank successfully completed the implementation of Finacle Islamic banking solution integrating over 30 systems and various business processes for improved customer experience. The collaboration strengthened customer service and the risk management capability of the bank. The project seamlessly enabled higher efficiency in processing, quicker time to market and faster account opening. The new solution has improved efficiency in processing of payments by 80% with minimal manual intervention. The migration was successfully completed within 23 months using a big bang approach
Infosys Finacle, along with its clients, won two awards for banking technology excellence at the Asian Banker awards for 2017. The awards for Finacle’s class leading core banking solution as well as its highly lauded blockchain offering stand testimony to Infosys Finacle’s new age digital banking solutions and implementation excellence that powers digital transformation strategy of banks across 94 countries.
ICICI Bank, Emirates NBD and Infosys Finacle awarded Most Innovative Application of Emerging Technology
In a pioneering project, ICICI Bank and Emirates NBD partnered with Infosys Finacle to pilot the first blockchain-based network for international remittances and trade finance. The new framework replicates the paper-intensive international trade finance process as an electronic decentralized ledger, which enables all the parties within the framework to access a single source of information in real-time. The framework is also equipped to send real-time financial messages to the recipient bank allowing the remittance transaction to take place instantaneously. Overall, this facilitates quicker, transparent and secure transactions.
China Banking Corporation and Infosys Finacle win Best Core Banking Implementation Project in Mid-size Bank segment
China Banking Corporation migrated to Infosys Finacle core banking system in a notable shift from their legacy system to an open platform. With a single customer information file (CIF), service oriented architecture and integrated systems, the bank is now empowered with an advanced platform to power its digital strategies. The new platform has helped the bank benefit from a significant increase in the deposit growth and its cross-sell rates. Post migration, China Banking Corporation witnessed a 16% growth in deposits and a 12% improvement in loan growth year-over-year. The bank is able to better target customers, provide real time processing and have faster time to market.
Infosys Finacle has been adjudged “Best Digital Banking Technology” award at Banker Middle East awards 2017. The Banker Middle East Industry Awards is the region’s leading financial event. The awards were selected by the registered readers of Banker Middle East, Islamic Business & Finance, FinanceME, WEALTH Arabia magazines as well as users of www.cpifinancial.net. The awards cover a variety of financial services including retail, corporate, investment, private banking, asset management, fund management, finance companies and consultancy practices.
Infosys Finacle has been adjudged “Best Innovative Technology Provider” award at Banker Africa – East Africa Awards 2017 The annual Banker Africa Awards recognizes outstanding performance and excellence in the financial services industry. The award program is designed to reward and promote excellence and competition in the drive to set new standards in the industry in quality of service, best practice and financial performance.