Fidelity Bank of Nigeria Migrates to Finacle Version 10 to Boast Banking Innovation
Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY) announces that Fidelity Bank Plc., Nigeria will migrate its core banking platform from Finacle version 7 to Finacle version 10. The upgradation, which is part of the bank’s transformation initiative, will enhance its operational efficiency, strengthen innovation capabilities and support scalable growth. Finacle version 10 will enable the bank to implement services such as SME banking, management information system reporting, application monitoring, and disaster recovery automation.
Talking on the migration, Michael Reh, Executive Vice President and CEO (designate), EdgeVerve said, “Banks in Africa have shown strong growth outlook over the last few years. Technology and a reliable technology partner are crucial for this growth. Finacle has a proven track record in Africa, having helped our clients there attain exceptional growth through industry-leading solutions and committed partnerships. We look forward to supporting Fidelity Bank in delivering a value-driven experience to its customers and achieving market-leading growth.”
Key Highlights:
- The multi-country migration to Finacle version 10 will enable the bank to operate 24/7 across channels and currencies
- It will help the bank with in-depth customer analytics, right-sell opportunities, and personalized offerings
- The deployment will also create new business opportunities through offerings such as liquidity management, top-up deposit, flexi-fixed deposit, enhanced channel transaction controls, rebates and clawbacks, bill payments, securitization, top-up loan, and subsidy
Lazarus I. Okolie, General Manager and Chief Technical Officer, Fidelity Bank Plc., Nigeria further adds, “In today’s intensely competitive landscape, it is imperative for us to do nothing less than delight our customers, to grow our business. Over the past eight years, Finacle has provided a stable platform to help us constantly focus on delivering superior customer value cost-effectively and in a user-friendly manner. We believe the upgrade to the new-generation Finacle solution will further aid our long-term business objectives and create new avenues for revenue growth.”
