Infosys Ltd’s shares were up by 0.99 per cent after the company reported that Bank of Commerce, an affiliate of San Miguel Corporation (SMC) group and a universal bank in the Philippines, has opted for Infosys Finacle Suite, an offering from Infosys Finacle, for its core banking transformation.
The suite comprises Finacle Core Banking, Finacle Liquidity Management, and Finacle Customer Data Hub solutions, aiming to replace BankCom’s legacy platform and enhance its ability to engage, innovate, and operate in line with market expectations.
This encompasses the adoption of Finacle’s componentised core banking solution, allowing a risk-mitigated replacement of existing legacy core systems. According to the company, the Finacle Core Banking solution provides a range of capabilities, including product factories, enabling BankCom to introduce products and services through configurations.
Additionally, the Finacle Liquidity Management solution empowers BankCom customers to manage liquidity across borders, currencies, and banks.
Michelangelo R Aguilar, President and CEO, Bank of Commerce, said, “The modernisation of our core banking system is an integral part of BankCom’s digital transformation journey as a universal bank in delivering a truly digital banking experience to our clients. It will enable us to operate better, innovate, and keep pace with industry best practices, regulatory requirements, and evolving expectations of the markets we serve, notably the San Miguel Group and SMC ecosystem.”
The shares were up by 0.99 per cent to ₹1,457.50 at 2.30 pm on the BSE.