Cloud adoption: Helping banks on their cloud journeys

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November 10, 2021 8:05 AM

Infosys Finacle and IBM partnership to help banks become more agile and power their growth

Venkatramana GosaviVenkatramana Gosavi, senior vice-president & global head of sales & alliances, Infosys Finacle

The cloud has evolved from a technical transformation enabler to a business transformation enabler that provides an agile, resilient, and scalable platform for innovation and growth. Given the benefits, cloud adoption is a necessity for financial institutions that aspire to lead the digital transformation race and achieve significant business performance improvements, said Venkatramana Gosavi, senior vice-president & global head of sales & alliances, Infosys Finacle. Recently, Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and IBM joined hands to help banks accelerate their cloud transformation journeys. As part of this, the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for financial services.

Company officials said this collaboration will help banks scale business transformation, become more agile, and power their growth with an on-demand portfolio of products and services. It will also help banks achieve seamless ecosystem connectivity and provide a world-class banking experience for their customers, and enable them to meet required compliance and security requirements. “Finacle’s industry-leading cloud-native solution suite is designed to help banks unlock this value,” said Gosavi. “Together with Infosys Cobalt – a robust set of cloud services, solutions, and platforms, and our collaboration with Red Hat and IBM, we are helping customers realise the benefits of open hybrid cloud for the next generation of financial services innovation.”

The Finacle solution suite deployment with fully managed Red Hat OpenShift on IBM Cloud for Financial Services is designed to provide significant reduction in the total infrastructure readiness timelines, resulting in a shorter time period for customer onboarding and go-live; more consistent application deployment platform that helps speed up customer onboarding, while providing greater visibility, control, and data isolation. Banks can leverage the elastic infrastructure of the cloud deployment for Finacle applications to scale on-demand, significantly improving provisioning efficiency.

Gaurav Sharma, vice-president, IBM Cloud and Cognitive Software, said, “With more mission-critical workloads moving to the cloud, the IBM Cloud for Financial Services is designed to help institutions accelerate hybrid cloud adoption and drive revenue growth while addressing the need for security, open innovation, and compliance.”

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