Bank of Sydney has selected Infosys Finacle Digital Banking Suite to spearhead its digital banking upgrade, aiming to enhance customer and staff experiences and achieve cost efficiencies through digitisation and automation.
Infosys Finacle, a part of EdgeVerve Systems and subsidiary of Infosys, will provide the bank with a suite of solutions hosted on AWS cloud in a SaaS model.
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The suite includes Finacle Core Banking Solution, Digital Engagement Hub, Online Banking, Mobile Banking, and Digital Onboarding solutions.
With these tools, the bank expects to expedite transformation with the Finacle Reference Bank, which offers preconfigured, Australia-specific banking products and processes.
The upgrade is anticipated to offer BoS customers improved digital services across multiple channels, including mobile and online banking.
It also aims to consolidate the bank’s IT infrastructure by phasing out several existing applications to lower technical debt.
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By GlobalDataThe suite supports configuration-driven capabilities, coupled with integration through open APIs.
Bank of Sydney CEO Melos Sulicich said: “At Bank of Sydney, our strategic goal is to become the leading deposit bank in Australia and to drive significant business growth in the coming years.
“Transforming our technology stack, centred around our core and digital banking platform, is crucial to meeting these objectives. With Infosys Finacle, we have a proven transformation partner and a next-generation banking platform to address the evolving needs of our business, customers, and regulatory ecosystem.”
Infosys Finacle chief business officer and global head Sajit Vijayakumar stated: “This partnership underscores our commitment to providing flexible and affordable modernisation solutions to Australian financial institutions. With Infosys Finacle’s advanced cloud-native suite on AWS, Bank of Sydney will benefit from a modern, customer-centric digital banking platform, enabling better engagement, innovation, and operation. We look forward to supporting our customers in Australia and helping them thrive in the digital age.”
Recently, Norway’s DNB Bank ASA expanded its partnership with Infosys, employing the Infosys Finacle platform to modernise its IT systems.
