Dec 19, 2006

Infosys updates

Infosys, the IT major, is planning to strengthen the portfolio of its universal banking solution, Finacle. The company is exploring options to add solutions in potential areas such as risk management, credit risk, Basel II and anti-money laundering to Finacle. For this, various options explored are internal development in addition to acquisition of these products or strategic partnership with vendors. Finacle has been enhanced over the past few years with the addition of Web-based cash management, mobile payment, and treasury and customer relationship management solutions. Infosys has been releasing new version of Finacle over every 15 to 18 months. Given the faster growth of BFSI (banking, financial services, insurance) segment, upgraded version of the software helps to capture greater market share as well as offer better services to the customers.

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