Infosys Finacle, Huawei to create new financial cloud solution

NEW DELHI: Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys and  Chinese telecoms giant Huawei Technologies have announced the global availability of the industry leading Finacle Universal Banking Solution Suite on Huawei’s FusionCloud based cloud platform.

With this joint offering, financial services clients can expect substantial reductions in infrastructure and application management costs with high resilience and enhanced customer service efficiency across channels. The highly available platform will allow customers to run Finacle suite of applications on a private cloud network, delivering considerable performance, maintenance and total cost of ownership advantages.

As part of this partnership, Huawei and Finacle carried out a benchmarking activity, observed and reviewed by the global advisory firm EY. The test was simulated on a Finacle database size of almost 1 TB, with 6000+ branches, 33 million+ customers, 61 million+ accounts and 20,000+ branch users. 3,846,000 transactions were successfully processed in a total test duration of 2 hours and 33 minutes at the rate of 627.66 transactions per second in one hour of peak user load.

"The solution will provide enhanced agility and quick service rollout, by enabling elastic, on demand and secure computing resource pools, while supporting all-round management and service automation. Customers will gain a range of flexible capabilities such as product factories, extensive parameterization and reusable business rules, and Open APIs, thereby enabling greater agility," the statement said.

The solution will help reduce operating expenditure by ensuring optimum infrastructure utilization. Besides, customers will enjoy superior operational excellence owing to flexible process orchestration, robotic process automation, straight through processing and industry standards driven integrations

"The solution will provide a real-time 360 degree view of customer with actionable insights from its powerful analytics capabilities, helping banks drive right-sell opportunities and create personalized services for customers. This along with a unified and frictionless omnichannel experience will markedly improve user satisfaction," it said.

"Extensive self-service capabilities will allow users to apply for computing, storage and network resources to be allocated on a per use basis. This will thereby reduce dependence on IT support and maintenance resources, and enhance end-user satisfaction," it added.

“This new offering from Huawei and Finacle will empower financial institutions with a world class banking software, with competitive capex, reduced opex and superior flexibility in operations. With reduced total cost of ownership and increased return on investment, banks will benefit from substantial savings which can be channelled to accelerate innovation and strengthen profitability," said Qian Yuan (Diana), President – Marketing and Solution Sales Department, Huawei Enterprise Business Group.

“The increasing digitally native customer base of financial institutions is resulting in rapid increase in transactions loads, pushing the need for flexibility in designing and managing IT deployment strategies. This joint offering from Finacle and Huawei is a perfect fit, bringing to market an industry leading, digital age banking solution suite along with the security, flexibility and scalability of a private cloud," said Andy Dey, President – Customer and Operations, EdgeVerve.