Infosys Ltd.

Infosys, a global leader in consulting and technology, has entered into partnership with Africa-based Standard Bank sparked by its recently unveiled Finacle digital commerce solution. Finacle will power agency banking for Standard Bank and help the bank extend service channels across its markets in Africa. This new alternate channel for the bank will offer value-added financial services to consumers, in Africa, while also reducing cost of operations for the bank.

Finacle digital commerce solution helps to unlock new revenue streams not only for financial institutions, but also telecom service providers and retailers by enabling instant cashless payments and commerce between merchants and consumers. The solution empowers consumers to consolidate payment instruments such as accounts, cash or cards, on a single digital wallet, made accessible anytime, anywhere on their preferred digital channel. Standard Bank, leveraging Finacle, will onboard and manage agents, using the mobile or Internet channels, to service remote customers cost-effectively. The solution will enable agents to offer a host of services ranging from customer on-boarding, cash deposits, cash withdrawal and banking transactions, to service requests.

Finacle digital commerce is a multi-channel wallet offering that supports both assisted and self-service channels such as the Internet, mobile, ATM, kiosks and IVR. The solution is ubiquitously available across mobile platforms, access modes and devices, and is built with robust security at the transmission, application and data levels.