Infosys to Offer Finacle Solutions on Verizon Cloud for U.S. Banks

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Jul 09, 2015, 06:51 ET

PALO ALTO, California, July 9, 2015 /PRNewswire/ --

Pay-as-you-go Financial Software Service Will Enable U.S. Banks and Community Financial Institutions to be More Agile

Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, will now offer the Finacle suite of software solutions on Verizon Cloud. The fully integrated Finacle Core and Digital banking solutions, currently serving over 547 million consumers worldwide, are now available in a Software-as-a-Service (SaaS) model for community financial institutions in the U.S.

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The Finacle solutions provide a single real-time view of customers, members, products and transactions and enable the creation of bespoke services for customers. These help banks and credit unions to enhance operational efficiency, accelerate speed-to-market for new offerings, and reduce time and cost of compliance. The new SaaS offerings of Finacle will empower financial institutions to deliver a multichannel experience to customers, without major capital investment and with greater flexibility and ease.

Highlights:

The new SaaS service further extends the availability of Finacle solutions to U.S. community financial institutions, making it easier to procure and deploy this solution as a pay-as-you-go service.
The flexibility of the service helps financial institutions comply with evolving federal and state compliance requirements.
Finacle Core Banking, Finacle e-Banking and Finacle Mobile Banking will be the first three solutions to be available on Verizon's managed cloud infrastructure. Other banking services will be added over time.
The service will be expanded with value-added solutions from Finacle's partners.

Quotes:

Michael Reh, Senior Vice President and Global Head of Finacle, Infosys:

"Providing real-time and compelling customer experience across multiple channels is a difficult task, even for the largest of financial institutions with significant resources. With Finacle solutions now available on Verizon Cloud, financial institutions of all sizes, across the U.S., will be able to provide the latest banking services to their customers without any major investment. The pay-as-you-go model provides reassurance to financial institutions that they will always have the latest technology to keep pace with a dynamic market and evolving customer preferences."

Adam Famularo, Vice President, Global Channel, Verizon:

"Together, Finacle and Verizon will enable new flexibility for clients. Financial institutions will benefit from Finacle's comprehensive solution coverage and high-performance platform hosted on the Verizon Cloud to help them improve agility, achieve sustainable, profitable growth and drive their business."

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, delivers broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with 108.6 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers worldwide. For more information, visit http://www.verizon.com/news/.

Verizon Enterprise Solutions helps clients improve customer experience, drive growth and business performance and manage risk. With industry-specific solutions provided over the company's secure mobility, cloud, strategic networking, Internet of Things and advanced communications platforms, Verizon Enterprise Solutions helps open new opportunities around the world for innovation, investment and business transformation. Visit http://www.verizonenterprise.com to learn more.

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About Infosys

Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit http://www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 176,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.

Safe Harbor

Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations 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 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 fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015 and our Forms 6- K for the quarters ended June 30, 2014, September 30, 2014 and December 31, 2014. These filings are available at http://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. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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.

SOURCE Infosys