Infosys has implemented its Finacle Digital Banking Suite on cloud to power transformation at Shivalik Mercantile Co-operative Bank, an urban co-operative bank.
This is significant as it marks the first end-to-end digital banking suite offering on a cloud from Infosys Finacle for a co-operative bank in India. Shivalik Mercantile Co-operative Bank primarily operates in Uttar Pradesh and Madhya Pradesh. Plans are afoot to expand into Delhi and Uttaranchal.
Already, Infosys Finacle has been implemented in seven other cooperative banks in the country.
Venkataramana Gosavi, Vice President & Global Head of Sales, Infosys Finacle said: “Our cloud offerings provide a cost effective way to transform business and to gain flexibility to scale at will. We are pleased to power Shivalik Bank’s business with the Infosys Finacle solution suite, to accelerate its aspirational journey to become one of the largest urban co-operative banks in India”.
Suveer Kumar Gupta, Managing Director & CEO, Shivalik Bank, said that Finacle’s integrated digital banking solution has helped Shivalik Bank achieve a transformational leap in its technology base, which “together with our robust local knowledge, will help deliver high quality customer service and take forward the ‘Digital India’ vision, especially among the underbanked population”
Source: The Hindu