| Original author(s) | Infosys |
|---|---|
| Developer(s) | Infosys |
| Initial release | 1999 (1999) |
| Operating system | Cross-platform |
| Type | Banking software |
| License | Commercial |
| Website | www |
Finacle is a banking software developed by Infosys. Finacle was created in 1999 as a core banking software suite and has been a part of Infosys' subsidiary EdgeVerve Systems since 2015.
History
Infosys launched Finacle in 1999 as a software package providing banking process automation and digital banking services. In 2002, Infosys consolidated its other banking software products, including BankAway and PayAway, under Finacle.
In 2006, Finacle reported that it generated about 69% of its total revenue from overseas locations, largely from banks and financial institutions in the EMEA region. In 2007, Finacle released its Bank-in-a-Box (BIAB) software framework. In 2008, Finacle added Islamic banking, wealth management, mobile banking, and rural banking capabilities.
In 2010, Finacle reported around $300 million in annual revenue. In 2013, American Banker noted that the new version of Finacle allowed the purchase of individual modules. In 2014, Finacle global head Mangipudi Haragopal resigned and was replaced by Michael Reh.
In 2015, Infosys merged Finacle with its software products subsidiary EdgeVerve Systems. Under EdgeVerve Systems, Finacle became a cloud-based platform, and included customer relationship management and payments offerings. In 2017, Finacle released Trade Connect, a blockchain-based trade finance application for banks.
Operations
Finacle had 6,000 employees in 2015. As of 2020, Finacle claimed that it was being used by banks in over 100 countries.
See also
References
- ^ Moorthy, Swathi (17 September 2020). "Infosys' Finacle is finally having a moment two decades after launch". Moneycontrol. Retrieved 17 August 2024.
- K., Giriprakash (23 August 2002). "Infosys consolidates banking suite under Finacle". Business Standard. Rediff. Retrieved 17 August 2024.
- "Infy eyes 10 big banks for Finacle". The Economic Times. 25 December 2006. Retrieved 17 August 2024.
- Franco, Jose (3 December 2007). "Infosys offers Finacle to Shariah-compliant banks". Khaleej Times. Retrieved 17 August 2024.
- "Infosys launches universal banking solution". The Economic Times. 29 October 2007. Retrieved 17 August 2024.
- "Infosys unveils Finacle 10 with new set of offerings". The Economic Times. 20 February 2008. Retrieved 17 August 2024.
- Mishra, Bibhu Ranjan (29 July 2008). "Finacle sniffs next wave of opportunities in RRBs". Business Standard. Retrieved 17 August 2024.
- "Infosys' banking software products division Finacle grows 14.8% in Q2". The Economic Times. 24 October 2011. Retrieved 17 August 2024.
- Crosman, Penny (18 September 2013). "Infosys Breaks Core Banking Software into Easier-to-Digest Pieces". American Banker. Archived from the original on 19 July 2019. Retrieved 17 August 2024.
- "Former SAP Executive Michael Reh to Head Infosys' Finacle: Report". NDTV. 7 October 2014. Retrieved 17 August 2024.
- Sood, Varun (13 December 2014). "Infosys' banking platform Finacle looks to invest in US-Asia Pacific". The Economic Times. Retrieved 17 August 2024.
- "Infosys to merge Finacle with Edgeverve". The Times of India. 16 March 2015. Retrieved 17 August 2024.
- Sood, Varun (15 March 2015). "Infosys to carve out Finacle, club it with EdgeVerve". Mint. Retrieved 17 August 2024.
- "Infosys Finacle launches blockchain based trade finance solution for banks". The Economic Times. Retrieved 17 August 2024.
- "Blockchain-based solutions, key to Infosys' Finacle growth plans". BusinessLine. 5 December 2017. Retrieved 17 August 2024.
- "Infosys to re-engineer Finacle, revamp compensation structure". Business Standard. Retrieved 17 August 2024.
- Giriprakash, K. (29 October 2018). "Banking on new partnerships, Finacle plays catch up". BusinessLine. Retrieved 17 August 2024.
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