Finacle from Infosys has enabled Bancolombia, a global financial services leader, to operate a seamless platform across Latin America and consolidate operations from across the region into a single, state-of-the-art system.
Using Finacle’s universal banking solution from Infosys, Bancolombia can now monitor and interface with all its branches around the clock. This means the bank can get a 360-degree view of all of its clients’ transactions, including high-net-worth clients who use foreign currencies across multiple subsidiaries. Whether it’s a bank in Panama, Puerto Rico, or the Cayman Islands, Bancolombia now operates all back-office functions using one platform.
Finacle also gives Bancolombia a competitive edge by helping it process transactions in real-time. The bank had become accustomed to collecting its transactions and processing them overnight. Bancolombia's ability to enter transactions immediately is critical to decreasing costs as it expands across Latin America.
Bancolombia is the largest commercial bank in Colombia and one of the largest in Latin America. The bank is headquartered in Medellín, the second largest city in Colombia and was founded in 1945.
