Saturday, 20 April 2024

Zand Bank adopts Infosys Finacle on Microsoft Cloud

5 min read

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and Zand Bank (Zand), UAE’s first digital-only bank, announced the bank’s decision to subscribe to the Infosys Finacle solutions suite to power its corporate banking services.

The deployment of Infosys Finacle’s advanced cloud-native solutions on Microsoft Azure is a testament to Zand’s commitment to provide a customer-centric, future-ready banking experience, underpinned by the latest in AI and predictive analytics.

The Finacle corporate banking solution suite’s modular framework and expansive suite of features, including an array of open APIs, will significantly accelerate the launch of innovative services, supporting Zand’s objective of continuous innovation and commitment to customer delight.

The Finacle solution suite aligns with Zand’s cloud-native strategy, delivering exceptional performance, flexible scalability, and significantly improved operational efficiency.

Infosys Finacle enables Zand’s capability to assimilate and process a vast array of data, equips it to partner with sophisticated analytics platforms, thereby offering cutting-edge services to its customers.

With Infosys Finacle, Zand builds on its solid technological foundation and positions itself at the industry’s cutting edge. The collaboration enables Zand to innovate and integrate emergent technologies like AI, blockchain, and digital asset management and drive a competitive advantage in the evolving landscape of digital finance.

Michael Chan, CEO of Zand, said: “We are delighted to announce our adoption of the Finacle modular core banking system. This strategic move empowers us to fortify our position at the forefront of innovation, enabling seamless deployment of digital assets, AI, and blockchain technologies. Embracing the future, we are poised to redefine banking experiences and drive unparalleled value for our customers.”

Sajit Vijayakumar, chief business officer, Infosys Finacle, said: “A digital revolution is shaking up the corporate banking sector, paving the way for modern, customer-centric models. We are delighted that Zand, as a trailblazer in this domain, has chosen Infosys Finacle for their ambitious project to redefine corporate banking excellence. We are committed to enabling Zand, fast-track its journey towards offering differentiated customer-centric and world-class corporate banking services. Our collaboration with the bank is yet another testimony to the flexibility of the Infosys Finacle corporate banking suite and the enduring trust that banks in the Gulf Cooperation Council place in us.”

Re-disseminated by The Asian Banker

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