Infosys Finacle , part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), and Bank of Sydney (BoS), today announced the bank's decision to select the Infosys Finacle Digital Banking Suite to power its transformation. Through this strategic collaboration, Bank of Sydney aims to deliver a best-in-class staff and customer experience, reduce cost and complexity through automation and digitization, and position itself strongly for future growth.
BoS will access the Finacle solutions suite in Software-as-a-Services (SaaS) mode through AWS cloud, including the Finacle Core Banking Solution, Finacle Digital Engagement Hub, Finacle Online Banking, Finacle Mobile Banking, and Finacle Digital Onboarding solutions.
Among other benefits, the next-gen Infosys Finacle Digital Banking Suite will also enable BoS to:
- Accelerate transformation with the Finacle Reference Bank – a preconfigured solution with Australia-ready products and processes.
- Enhance digital experience by delivering superior omni-channel self-service capabilities through mobile and online banking.
- Simplify the bank's IT landscape by retiring multiple applications, reducing technical debt and creating a more agile IT environment.
- Innovate at scale leveraging configuration-driven product and service innovation, while seamlessly integrating with the broader ecosystem through open APIs.
- Scale dynamically to support the business growth leveraging the AWS cloud-powered services.
Melos Sulicich, Chief Executive Officer, Bank of Sydney, said, "At Bank of Sydney, our strategic goal is to become the leading deposit bank in Australia and to drive significant business growth in the coming years. This requires adapting to rapidly changing customer needs, digital advancements, and regulatory requirements. Transforming our technology stack, centered around our core and digital banking platform, is crucial to meeting these objectives. With Infosys Finacle, we have a proven transformation partner and a next-generation banking platform to address the evolving needs of our business, customers, and regulatory ecosystem."
Jamie Simon, Director, Banking and Financial Services (A/NZ), AWS, said, "AWS's collaboration with Infosys Finacle is a commitment to empowering banks with scalability, agility, and flexibility. By leveraging Finacle on AWS, Bank of Sydney is accelerating its digital transformation to enhance customer
experiences, achieving faster time to market while optimizing costs. The deployment on AWS provides the bank with a highly secure, agile environment, enabling seamless scalability and integration of digital services. We are excited to support Bank of Sydney in this journey and help drive its continued growth and innovation."
Sajit Vijayakumar, Chief Business Officer and Global Head, Infosys Finacle, said, "We are thrilled to announce our collaboration with Bank of Sydney, marking a significant milestone in our expanding presence in Australia. This partnership underscores our commitment to providing flexible and affordable modernization solutions to Australian financial institutions. With Infosys Finacle's advanced cloud-native suite on AWS, Bank of Sydney will benefit from a modern, customer-centric digital banking platform, enabling better engagement, innovation, and operation. We look forward to supporting our customers in Australia and helping them thrive in the digital age."
About us:
About Bank of Sydney
At Bank of Sydney, we provide genuine value to our people, customers, communities, and partners.
We are an Australian Bank that has been operating in Australia under a full banking licence since 2001, with branches across Sydney, Melbourne and Adelaide. The Bank has a full Australian banking license and is independently operated and regulated by Australian standards and government bodies, including APRA and ASIC, whilst also being a proud member of the Australian Banking Association (ABA).
About Infosys Finacle
Finacle is an industry leader in digital banking solutions. We are a unit of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys (NSE, BSE, NYSE: INFY). We partner with emerging and established financial institutions to help inspire better banking. Our cloud-native solution suite and SaaS services help banks engage, innovate, operate, and transform better to scale digital transformation with confidence. Finacle solutions address the core banking, lending, digital engagement, payments, cash management, wealth management, treasury, analytics, AI, and blockchain requirements of financial institutions. Today, banks in over 100 countries rely on Finacle to help more than a billion people and millions of businesses to save, pay, borrow, and invest better.
