BENGALURU, India and
DUBAI, UAE, April 3, 2024 /PRNewswire/ -- Infosys Finacle,
part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys
(NSE: INFY), (BSE: INFY), (NYSE: INFY), and Zand Bank (Zand), UAE's first digital-only bank,
today announced the bank's decision to subscribe to the Infosys
Finacle Solutions suite to power its corporate banking services.
The deployment of Infosys Finacle's advanced cloud-native solutions
on Microsoft Azure is a testament to Zand's commitment to provide a
customer-centric, future-ready banking experience, underpinned by
the latest in AI and predictive analytics.
Key highlights of Zand's technological advancement:
- The Finacle Corporate Banking Solution Suite's modular
framework and expansive suite of features, including an array of
Open APIs, will significantly accelerate the launch of innovative
services, supporting Zand's objective of continuous innovation and
commitment to customer delight.
- The Finacle solution suite aligns with Zand's cloud-native
strategy, delivering exceptional performance, flexible scalability,
and significantly improved operational efficiency.
- Infosys Finacle enables Zand's capability to assimilate and
process a vast array of data, equips it to partner with
sophisticated analytics platforms, thereby offering cutting-edge
services to its customers.
- With Infosys Finacle, Zand builds on its solid technological
foundation and positions itself at the industry's cutting edge. The
collaboration enables Zand to innovate and integrate emergent
technologies like AI, blockchain, and digital asset management and
drive a competitive advantage in the evolving landscape of digital
finance.
Michael Chan, Chief Executive
Officer of Zand, said, "We are delighted to announce our
adoption of the Finacle modular core banking system. This strategic
move empowers us to fortify our position at the forefront of
innovation, enabling seamless deployment of digital assets, AI, and
blockchain technologies. Embracing the future, we are poised to
redefine banking experiences and drive unparalleled value for our
customers."
Sajit Vijayakumar, Chief
Business Officer, Infosys Finacle, said, "A digital
revolution is shaking up the corporate banking sector, paving the
way for modern, customer-centric models. We are delighted that
Zand, as a trailblazer in this domain, has chosen Infosys Finacle
for their ambitious project to redefine corporate banking
excellence. We are committed to enabling Zand, fast-track its
journey towards offering differentiated customer-centric and
world-class corporate banking services. Our collaboration with the
bank is yet another testimony to the flexibility of the Infosys
Finacle Corporate Banking Suite and the enduring trust that banks
in the Gulf Cooperation Council place in us."
About Zand
Bank
Zand is the digital bank for digital assets, with a high focus
on accelerating the digital economy in the UAE and beyond. Zand was
built to change the way the UAE banks, leveraging the power of
advanced data capabilities, an agile operating model, and
cutting-edge technologies to simultaneously simplify and upgrade
the customer experience. Zand adopts a distinctive approach to
banking, providing products and services to help support businesses
at every stage. Committed to providing secure, reliable, and
innovative solutions through integration of blockchain and AI
technologies Zand continues to pave the way for the adoption and
integration of digital assets into mainstream finance.
About Infosys Finacle
Finacle is an industry leader in digital banking solutions. We
are a unit of EdgeVerve Systems, a wholly-owned product subsidiary
of Infosys (NSE, BSE, NYSE: INFY). We partner with emerging and
established financial institutions to help inspire better banking.
Our cloud-native solution suite and SaaS services help banks
engage, innovate, operate, and transform better to scale digital
transformation with confidence. Finacle solutions address the core
banking, lending, digital engagement, payments, cash management,
wealth management, treasury, analytics, AI, and blockchain
requirements of financial institutions. Today, banks in over 100
countries rely on Finacle to help more than a billion people and
millions of businesses to save, pay, borrow, and invest better. For
more information, visit www.finacle.com.
Safe Harbor
Certain statements in this release concerning our future growth
prospects, or our future financial or operating performance, are
forward-looking statements 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 or outcomes 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 the execution of our business strategy, our
ability to attract and retain personnel, our transition to hybrid
work model, economic uncertainties, technological innovations such
as Generative AI, the complex and evolving regulatory landscape
including immigration regulation changes, our ESG vision, our
capital allocation policy and expectations concerning our market
position, future operations, margins, profitability, liquidity,
capital resources, our corporate actions including acquisitions,
and cybersecurity matters. Important factors that may cause actual
results or outcomes to differ from those implied by the
forward-looking statements are discussed in more detail in our US
Securities and Exchange Commission filings including our Annual
Report on Form 20-F for the fiscal year ended March 31, 2023. These filings are available
at www.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. 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.
Photo:
https://mma.prnewswire.com/media/2378359/Infosys_Finacle_Zand_Bank.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/zand-bank-subscribes-to-infosys-finacles-corporate-banking-suite-on-microsoft-cloud-to-deliver-new-age-banking-experiences-302106967.html