Infosys' wholly owned subsidiary, Infosys Finacle, an industry leading digital banking solution suite from EdgeVerve Systems, together with IBM are enabling Finacle Digital Banking Solution Suite to be available on Red Hat OpenShift and IBM Cloud regarding financial services.

Finacle facilitates conventional and new financial institutions in achieving seamless customer experiences, a bigger ecosystem, insights-driven interactions, and ubiquitous automation through true digital transformation. Finacle solutions help financial institutions drive business excellence by addressing core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements.Finacle now serves over a billion consumers and 1.3 billion accounts for banks in over 100 countries.

Whereas, IBM Cloud for Financial Services is meant to assist financial services organizations in meeting regulatory compliance, security, and resiliency requirements. With Red Hat OpenShift, the industry's leading enterprise Kubernetes platform, IBM's partner network helps clients manage and upgrade workloads from bare-metal to multi-cloud and everything in between, enabling hybrid cloud environments.

With the combining forces of IBM Cloud and Infosys Finacle, the Financial Digital Banking Solution Suite is expected to assist in banks acquiring seamless ecosystem connectivity while delivering world-class banking experience for their customers as well as helping them to meet the necessary compliance and security requirements.

The following are the benefits among others pertaining to the Finacle Digital Banking Solution Suite

Significant reduction in the total infrastructure timline, resulting in a shorter time period for customer on-boarding and go-live.

An easier and more consistent application deployment platform that helps speed up customer on-boarding, while providing greater visibility, control, and data isolation.

Banks can leverage the elastic infrastructure of the cloud deployment for Finacle applications to scale on-demand, significantly improving provisioning efficiency.

The operations teams’ dependencies on the need for special skills will reduce, due to the unified container and cloud management capabilities.

Genuine end-to-end automation will free up developers to innovate and gain greater agility in completing application releases on-demand.

Enhanced security features for cloud environments will also reduce operational overhead, enabling partners and their customers to build applications, drive innovation and deliver value.

Kelly Switt, Senior Director, FSI Ecosystem and Strategic Partnerships, Red Hat, says, “in the banking industry, a new wave of digital disruption is compelling firms to innovate more quickly and better support customers. Red Hat OpenShift, the industry’s leading enterprise Kubernetes platform, offers financial institutions the necessary agility, scalability, and application development capabilities to deliver innovative solutions while helping them meet security and compliance requirements. By collaborating with Infosys Finacle and IBM, we are helping customers realize the benefits of open hybrid cloud for the next generation of financial services innovation”.

“The Cloud has evolved from a technical transformation enabler to a business transformation enabler that provides an agile, resilient, and scalable platform for innovation and growth. Given the benefits, cloud adoption is a necessity for financial institutions that aspire to lead the digital transformation race and achieve significant business performance improvements. Finacle’s industry-leading cloud-native solution suite is designed to help banks unlock this value. Together with Infosys Cobalt - a robust set of cloud services, solutions, and platforms, and our collaboration with Red Hat and IBM, we are helping customers realize the benefits of open hybrid cloud for the next generation of financial services innovation”, says Venkatramana Gosavi, Senior Vice President & Global Head of Sales & Alliances, Infosys Finacle.

“At IBM, our mission is to de-risk the financial services industry. With more mission-critical workloads moving to the cloud, the IBM Cloud for Financial Services is designed to help institutions accelerate hybrid cloud adoption and drive revenue growth while addressing the need for security, open innovation, and compliance. With this collaboration, Infosys Finacle joins a growing ecosystem of more than 100 Independent Software Vendors (ISVs), SaaS providers, Global Systems Integrators (GSIs), and Fintechs leveraging the IBM Cloud for financial services”, adds Gaurav Sharma, Vice President, IBM Cloud and Cognitive Software.