Infosys announced an extension to its partnership with Microsoft Corp. As part of this collaboration, the Finacle suite of solutions will be available on Microsoft Azure. This offering will allow banks to utilize Finacle’s award-winning solutions, along with the robust capabilities of Azure, enabling them to operate at lower costs and with greater agility.
Michael Reh, Senior Vice President and Global Head, Finacle, Infosys:“The adoption of cloud in the banking sector has been relatively slow due to rising concerns about security, reliability and compliance. Banks are seeking opportunities to flexibly design their cloud deployment strategies so that they can cater to the increasing load of transactions from digital natives, while reducing technology management costs. Finacle on Azure will offer significant flexibility to banks to design their cloud approach. With Azure running on a network of Microsoft-managed datacenters across 19 regions and Finacle’s experience of delivering solutions across 84 countries, banks across the globe can enjoy the benefits of this partnership.”
Karen Cone, General Manager Worldwide Financial Services, Microsoft Corp.: “The need for financial institutions to become digital businesses is more acute than ever. After multiple years of disruption, very few still need to be convinced of the inevitability of digitization, and the need to re-invent business processes and new business models. The cloud in financial services is game-changing in providing the industry with unprecedented opportunities to operate at lower costs with greater agility. Microsoft is therefore delighted to announce an extension to its partnership with Infosys. With the Finacle suite of solutions on Azure, we will support financial institutions in opening doors to a new era of agility and innovation in a security-enhanced environment, while impactfully shrinking their IT infrastructure costs.”
Craig Focardi, Principal Executive Advisor, CEB TowerGroup: “The complexity of legacy core banking systems has slowed down the pace at which larger banks are reengineering their in-house systems to become fully digital. It is easier for smaller banks to pursue new cloud-based banking solutions due to simpler IT environments. However, large banks require a combination of hosting and component-based core technology, from trusted partners, which can provide the security, scalability, and risk management controls they require. This alliance provides a flexible suite of core banking system components that banks of all sizes can choose from, to incubate new service delivery models, to improve customer engagement, and to enhance their growth opportunities.”
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