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Infosys spends $60m on Finacle upgrade

20 February 2008  |  6532 views  |  0 cash

India's Infosys Technologies says it has invested over US$60 million in the last three years on upgrading its flagship core banking platform Finacle.

The vendor says version 10 of its Finacle platform includes new Islamic banking and wealth management options as well as an enhanced mobile banking system.

The new version will enable banks to transform their multi-country operations through a standard platform and processes, says Infosys. The system also includes advanced security and compliance frameworks.

Infosys says seven tier one and tier two banks have already chosen the latest version of the platform to run their domestic and international operations.

TV Mohan Das Pai, member of the board, Infosys, says Finacle is core to the group's growth strategy.

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