Infosys has announced its partnership with Microsoft Corp. to offer its Finacle suite of solutions on Microsoft Azure. This offering will allow banks to use Finacle’s solutions, alongside the robust capabilities of Azure, allowing them to work at lower costs with superior agility.
- With this offering, banks can leverage Finacle on the cloud. It will help Finacle’s clients cut infrastructure and technology management costs, and advance flexibility to scale operations fast.
- Banks can plan their journey to the cloud with several flexible deployment choices. They can use Azure as a production environment or for development and testing purposes. They can also leverage hybrid models to process peak loads by using ‘cloud bursting’ techniques, while continuing to run routine operations on an in-house atmosphere.
- Banks now will pay only for the resources consumed, thereby dropping their capital and operational expenditure
- With cloud deployments, banks can also leverage fresh inventions from Finacle on an on-going basis, and reduce the costs and efforts of implementation
Michael Reh, Senior Vice President and Global Head, Finacle, Infosys, “The adoption of cloud in the banking sector has been relatively slow due to rising concerns about security, reliability and compliance. Banks are seeking opportunities to flexibly design their cloud deployment strategies so that they can cater to the increasing load of transactions from digital natives, while reducing technology management costs. Finacle on Azure will offer significant flexibility to banks to design their cloud approach. With Azure running on a network of Microsoft-managed datacenters across 19 regions and Finacle’s experience of delivering solutions across 84 countries, banks across the globe can enjoy the benefits of this partnership.”
Karen Cone, General Manager Worldwide Financial Services, Microsoft Corp. said, “The need for financial institutions to become digital businesses is more acute than ever. After multiple years of disruption, very few still need to be convinced of the inevitability of digitization, and the need to re-invent business processes and new business models. The cloud in financial services is game-changing in providing the industry with unprecedented opportunities to operate at lower costs with greater agility. Microsoft is therefore delighted to announce an extension to its partnership with Infosys. With the Finacle suite of solutions on Azure, we will support financial institutions in opening doors to a new era of agility and innovation in a security-enhanced environment, while impactfully shrinking their IT infrastructure costs.”