Infosys offering Finacle to more Indian banks

MUMBAI: Finacle, the banking product division of Infosys Technologies, is set to offer its core banking solution version 10 to more Indian banks, a top company official said here.

"In India two banks have gone live with Finacle core banking solution version 10 and some more banks are implementing," Finacle's Global Head, Haragopal Mangipudi told reporters here.

Private lender IndusInd Bank today selected Finacle core banking solution version 10 to power the Bank's exponential growth.

Finacle core banking solution version 10 had been already implemented in 12 banks across 19 countries and installation of the same in 12 more banks is at various stages, Mangipudi said.

Finacle implementation provides a future-proof technology platform with robust Straight Through Processing capabilities and support for true 24X7 multi-channel and multi-currency transactions. The solution's proven scalability, relevance to the Indian banking context and flexibility will power ambitious growth plans of banks, he said.

For the year 2010-11, the division has clocked sales of USD 295 million, as against USD 208 million in the previous fiscal, up 42.1 per cent.

Finacle, with over 140 clients across 73 countries, has rolled out seven new products in FY 11 and three new products in FY 12, Mangipudi said.