Infosys Finacle, a part of EdgeVerve Systems and subsidiary of Infosys, has partnered with Uniting Financial Services (UFS) to implement its digital banking suite in Australia.
This transition to the Finacle software-as-a-service (SaaS) platform on Amazon Web Services (AWS) cloud was accomplished in under five months. The implementation utilised the Finacle Australian Reference Bank Model, which includes preconfigured products, processes, interfaces, and compliance rules.
The newly adopted Finacle Digital Banking Suite comprises several components including Finacle Core Banking, Finacle Digital Engagement Hub, Finacle Online Banking, Finacle Mobile Banking, Finacle Customer Data Hub, and Finacle Alerts.
This collaboration aims to transform UFS’s operational capabilities by enhancing agility, compliance, and efficiency while providing an improved digital experience for customers. It also supports UFS in rapidly introducing new offerings and scaling operations in line with their growth strategy.
Furthermore, the suite’s implementation allows UFS to enhance digital experiences with omnichannel self-service features across mobile and online platforms.
Infosys Finacle CEO Sajit Vijayakumar said: “Going live on Finacle SaaS in record time is a testament to our commitment to modern banking and customer-centric innovation. This rapid deployment underscores the power of a truly digital, cloud-native platform that’s built for agility, compliance, and scale.
“For community banks in the region looking to modernize without the pain of legacy transformation, this is proof that next-gen banking is not just possible – it’s achievable, fast.”
UFS intends to expand its investment product offerings, increase deposits, and grow its commercial loan business through this collaboration. The integration of open application programming interfaces (APIs) is expected to facilitate smoother partnerships, driving innovation and operational benefits.
UFS chief risk officer and acting CEO John McComb said: “Our goal was to modernise our core banking and digital capabilities to enhance the experience for clients.
“With Infosys Finacle, we have found a long-term technology partner, with the ability to deliver a future-ready platform that meets the needs of our operations today and supports our ambitions for tomorrow in a rapidly evolving financial services landscape.”
According to Infosys, the cloud-native architecture provided by AWS ensures resilience, scalable performance on demand, and a secure banking environment. This setup leverages AWS services such as Amazon RDS for databases, Amazon EKS for Kubernetes management, and AWS WAF for firewall protection.
In related developments, Infosys announced a successful phase of implementation for the nCino Platform at ABN AMRO Bank in the Netherlands earlier this month. This project focuses on transforming the bank’s loan origination and collateral management processes by integrating multiple legacy systems into a unified platform.
