Finacle was built under the leadership of Sharad Hegde who served as CTO of the mahindra and mahindra case study pdf. Finacle is used by banks across 84 countries that serve over 450 million customers. Finacle has a strong focus on product strategy and a global market presence.
Infosys’s Finacle core banking, e-banking and treasury solutions across its foreign branches outside India. SBI implemented Finacle in 25 countries. The bank’s global business operations were standardised on the Finacle platform, on three data centres in the US, UK, and India. These three data centres were later downsized to a single one in India, while upgrading the entire system. This achieved a reduction in costs as well as allowing the bank to offer more products, roll them out faster.
Singapore, who selected Finacle Universal Banking Solution from Infosys as the core banking platform for the programme. The bank ventured on the implementation of Finacle in Singapore and its key markets across the region with core banking product offerings, and strengthen its technology platform. DBS Bank implemented Finacle in 13 countries. India’s second largest public sector bank at all its 4,604 branches and extension counters on Sun infrastructure and the Oracle database.
The bank said that the solution was rolled out across 100 per cent of PNB’s branches in record time. The bank had 22,500 concurrent users on the Finacle platform, with the number of peak transactions at 3. Finacle to be the solution “core to the merger” for facilitating the bank’s expansion plans into the region. The deal was however called off by the bank in the same year.
Its flexibility, scalability, cost effectiveness and compatibility with other systems in the bank made Finacle the ideal choice. In July 2011, Nigeria was the first country to start operations on Finacle. Namibia was the second country to go live on Finacle in 2012. Malawi,Uganda, Tanzania, Zambia and Botswana are in the pipe line to launch operations on Finacle.