ING Belgium signs for Finacle universal banking

Source: Infosys

ING Belgium, one of Belgium's leading banks, announced today that it has selected Finacle universal banking solution to transform its core banking software.

Finacle will power multiple lines of the bank's business including savings and current accounts, deposits and loans. With this transformation, ING will modernize services for its growing customer base in Belgium, deliver operational efficiencies, bring products to market faster and improve customer experience.

Highlights/Key Facts

  • Finacle will transform ING Belgium's existing legacy systems to provide future ready technology which can be customized to meet the bank's on-going operational, product and regulatory requirements.
  • The Finacle core banking solution with its service-oriented architecture, industry standard business process flows, unique extensibility framework and proven scalability for Tier 1 banks is ranked as a global leader by industry analysts.
  • A common customer view across all products and relationships will enable ING to deliver improved service levels and help the bank meet various regulatory requirements. ING will be able to develop and deliver modern, innovative products to its customers, whilst its employees will benefit from streamlined operations and improved productivity.
  • Finacle was chosen by ING following a highly competitive tender process. Factors contributing to Finacle selection included its strong product lineage, sustained R&D investment, experience and success in large-scale transformations and its unique ability to be a single source for services such as process change consulting, system integration and independent testing.

Frank Stockx, Chief Information Officer of ING Belgium, commented: "For many years now, we have seen a standardization and globalization of the back-office processes. The current solutions have grown up and are mature enough to integrate our banking IT environment. Working with Finacle gives us more flexibility and let us concentrate our efforts on the customer's needs, which is part of our strategy to become the first universal direct bank."

Sanat Rao, Vice President and Global Head Client Services, Finacle, Infosys said: "Our relationship with ING is a further endorsement of Finacle's success in partnering with world class banks embarking on transformation projects with underlying complexities of a modular phased replacement of legacy systems alongside associated organizational change. With this partnership we are delighted to have expanded our European footprint in the BeNeLux market. We are confident that the enhanced core banking platform from Finacle will ensure ING becomes increasingly efficient, competitive and innovative across their operations." 

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