Sterling Bank of Asia Selects Infosys Finacle Software-as-a-Service for it's NextGen Transformation

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), a global leader in AI-first business consulting and technology services, and Sterling Bank of Asia (Sterling Bank), one of the most progressive banks in the Philippines, today announced the bank's decision to select Infosys Finacle Software-as-aService (SaaS) platform for its transformation program. Sterling Bank has opted to leverage the Finacle Core Banking, Finacle Customer Data Hub, Finacle Trade Finance, and Finacle Origination solutions for its requirements. Through this strategic collaboration with Infosys Finacle, Sterling Bank expects to enhance the experience of both employees and customers, maintain high standards of availability and reliability in its banking services, and reduce operational complexity through automation and digitization, thereby supporting its future growth.

With the new platform, Sterling Bank will be able to simplify management of technology operations by leveraging the SaaS-based deployment, allowing the bank to focus on strategic growth and innovation. Further, the bank will be able to drive faster innovation cycles while staying secure and compliant through access to periodic upgrades, security, and feature enhancements. In addition, the cloud-hosted model will help the bank scale seamlessly and on demand to support evolving business needs.

Cecilio Paul D. San Pedro, President and Chief Executive Officer, Sterling Bank of Asia, said, "At Sterling Bank of Asia, we aim to integrate forward-thinking solutions into our operations to better serve the Philippine market. Achieving this requires us to continuously respond to fast-evolving customer expectations, the accelerating pace of digital innovation, and an increasingly complex regulatory landscape. Modernizing our technology foundation for both core and digital banking is essential to realizing our goals. With Infosys Finacle, we have a trusted transformation partner and a next-generation banking platform that will equip us to meet the dynamic requirements of our business, our customers, and the wider regulatory environment."

Sajit Vijayakumar, Chief Executive Officer, Infosys Finacle, said, "Our collaboration with Sterling Bank of Asia is yet another example of Finacle's growing presence in the Philippines. This collaboration reflects our continued commitment to delivering next-generation solutions to thrift banking community without upfront infrastructure investments. With Finacle SaaS, tailored for the Philippine market, Sterling Bank of Asia will gain a modern, customer-first digital banking platform to help position the bank for long-term success."

Shares of Infosys Limited was last trading in BSE at Rs. 1041.40 as compared to the previous close of Rs. 1056.45. The total number of shares traded during the day was 1433841 in over 36860 trades.

The stock hit an intraday high of Rs. 1067.90 and intraday low of 1038.65. The net turnover during the day was Rs. 1500851771.00.

Source : Equity Bulls

Keywords

Infosys INE009A01021 INFY InfosysFinacle EdgeVerveSystems SterlingBankofAsia Philippines