Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys has entered into partnership with Fidelity Bank Plc., Nigeria, one of the fastest growing Commercial Banks in Africa, whereby the bank will migrate its core banking platform from Finacle version 7 to Finacle version 10. The migration, 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. The multi-country migration to Finacle version 10 will enable the bank to operate 24/7 across channels and currencies. It will also help the bank with in-depth customer analytics, right-sell opportunities, and personalized offerings.
Further, 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 claw-backs, bill payments, securitization, top-up loan, and subsidy.