Finacle to power Digital Commerce Revolution

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Infosys has announced partnership sparked by its recently unveiled Finacle digital commerce solution. Finacle will power agency banking for Standard Bank and help the bank extend service channels across its markets in Africa. This new alternate channel for the Bank will offer value-added financial services to consumers, in Africa, while also reducing cost of operations for the Bank.

Finacle digital commerce solution helps unlock new revenue streams not only for financial institutions, but also telecom service providers and retailers. The solution empowers consumers to consolidate payment instruments on a single digital wallet. The solution will enable agents to offer a host of services, ranging from customer on-boarding, cash deposits, cash withdrawals and banking transactions, to service requests.

Terry Moodley, Chief Executive, Personal and Business Banking Africa, Standard Bank, said, “Mobility is a critical component of our business growth in Africa. We see the rapid proliferation and take up of mobile and mobility services, and in some areas Africa is leading the way for the rest of the world. Finacle digital commerce solution from Infosys provides us with the technology platform to deliver on our mobility strategy, thereby positively impacting the communities in which we operate and keeping our customers moving forward.”

Haragopal Mangipudi, Global Head, Finacle, Infosys, said, “With Finacle digital commerce solution, we aim to accelerate innovation for financial institutions, telecom providers and retailers. We believe there is a growing market for payments, and cost-effective agency services, driven by access to digital channels. Our partnership with Standard Bank is a great example of how organizations can harness the immense potential of digital money to extend banking reach and spark new growth opportunities.”

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