Finacle

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Finacle
Original authorInfosys
DeveloperInfosys
Initial release1999 (1999)
Repository
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Engine
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    Operating systemCross-platform
    Service nameInfosys Finacle Banking
    TypeBanking software
    LicenseCommercial
    Websitewww.finacle.com

    Finacle is a banking software developed by Infosys. Finacle was created in 1999 as a core banking software suite and has been a part of Infosys' subsidiary EdgeVerve Systems since 2015.

    History

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    Infosys launched Finacle in 1999 as a software package providing banking process automation and digital banking services.[1] In 2002, Infosys consolidated its other banking software products, including BankAway and PayAway, under Finacle.[2]

    In 2006, Finacle reported that it generated about 69% of its total revenue from overseas locations, largely from banks and financial institutions in the EMEA region.[3][4] In 2007, Finacle released its Bank-in-a-Box (BIAB) software framework.[5] In 2008, Finacle added Islamic banking, wealth management, mobile banking,[6] and rural banking capabilities.[7]

    In 2010, Finacle reported around $300 million in annual revenue.[8] In 2013, American Banker noted that the new version of Finacle allowed the purchase of individual modules.[9] In 2014, Finacle global head Mangipudi Haragopal resigned and was replaced by Michael Reh.[10][11]

    In 2015, Infosys merged Finacle with its software products subsidiary EdgeVerve Systems.[12][13] Under EdgeVerve Systems, Finacle became a cloud-based platform, and included customer relationship management and payments offerings.[1] In 2017, Finacle released Trade Connect, a blockchain-based trade finance application for banks.[14][15]

    Operations

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    Finacle had 6,000 employees in 2015.[16] As of 2020, Finacle claimed that it was being used by banks in over 100 countries.[17][1][18]

    See also

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    References

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