Infosys Finacle Banking Platform to be Offered as Managed Service on Oracle Cloud

Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys, has launched a new offering, “Finacle as a managed service on Oracle Cloud.”

Though the banking industry has been wary of adopting cloud solutions, with this offering, Finacle becomes one of the first comprehensive banking platforms to be available as a managed service on Oracle Compute Cloud.

"Infosys Finacle and Oracle have been working together for over a decade now,” said Thomas Kurian, president, Product Development, Oracle. “With the Oracle and Infosys Finacle offerings, banks across the globe can take advantage of the latest Finacle stack along with our industry leading enterprise cloud infrastructure.”

According to the companies, the offering will enable banks globally to leverage Finacle’s solution suite, along with other enterprise-class applications hosted on premise or in an external environment, to gain agility and cost efficiencies.

"Up to now, the banking industry has been wary of adopting cloud solutions,” said Michael Reh, executive vice president and CEO (designate), EdgeVerve. “The combination of Finacle and Oracle allows financial institutions to benefit from the flexibility and scalability of the cloud with confidence.”

The new offering will enable banks of all sizes to run enterprise-class banking applications such as payments and core banking on the cloud; and will provide a range of services to help banks flexibly design their cloud journey, including a choice of no-maintenance cloud infrastructure that can be used on demand for infrequent and seasonal activities such as development, testing, and training, and  the use of the managed service for production environments with the new Oracle Database Exadata Cloud Service, for utmost resilience.

A pre-integrated suite of solutions will help clients minimize costs, complexity and efforts of implementations. Finacle’s clients can now reduce infrastructure and application management costs, and service customers efficiently across channels, with a real-time platform

The service ensures that banks always have the latest Finacle capabilities available-on-demand to keep pace with changing consumer expectations, and banks can choose to leverage the entire banking platform as a managed service or can use specific services such as payments

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