|Stable release||10.2.09 / November 1, 2011|
|Written in||Java, C/C++|
It is used by multiple banks across several countries, it can handle multi-currency transactions.
Finacle offers a suite of products, which are periodically evaluated by independent research firms like Forrester. The list of products include.
- Finacle Core Banking Solution
- Finacle CRM Solution
- Finacle e-Banking Solution
- Finacle Treasury Solution
- Finacle Wealth Management Solution
- Finacle Islamic Banking Solution
- Finacle Direct Banking Solution
- Finacle Mobile Banking Solution
- Finacle Rural Banking Solution
- Finacle Inclusion Solution
- Finacle Analyz
- Finacle Alerts Solution
- Finacle Advizor Solution
- Finacle Lite
- Finacle Finanz Tools
- Finacle Digital Commerce Solution
- Finacle Operational Data Store
- Finacle Origination Solution
- Finacle Multichannel Framework
- Finacle Offers and Catalog Solution
- Finacle Payments Solution
- Finacle Liquidity Management Solution
- Finacle Nostro Recon Solution
- Infosys SocialEdge Solution
In 2004, India’s largest bank, State Bank of India (SBI), decided to deploy Infosys’s Finacle core banking, e-banking and treasury solutions across its global operations in 20 countries. Finacle was implemented in 25 countries across the world. The bank's global business operations were standardised on the Finacle platform, on three data centers in the US, UK, and India. These three data centers were later downsized to a single one in India, while upgrading the entire system. This achieved a reduction in cost. The bank was also able to offer more products, roll them out faster, and roll them out globally.
DBS Bank, Singapore, selected Finacle Universal Banking Solution from Infosys as the core banking platform for the programme. The bank ventured on the implementation of Finacle in Singapore and its key markets across the region to deepen its leadership in the market with advanced core banking product offerings, and strengthen its technology platform. Finacle was implemented in 13 countries.
In 2011, Finacle was set to enter the United States market via a deal with Union Bank N.A. of California, reported at a value of US$20 million. The deal was however called off by the bank in the same year.
Finacle was chosen by Standard Bank, South Africa as the preferred solution for Africa (excluding South Africa). Its flexibility, scalability, cost effectiveness and compatibility with other systems in the bank made Finacle the ideal choice. In July 2011, Nigeria was the first country to start operations on Finacle. Namibia was the second country to go live on Finacle in 2012. Uganda, Tanzania, Zambia and Botswana are in the pipe line to launch operations on Finacle.
In October 2012, Rizal Commercial Banking Corporation (RCBC), a private domestic commercial bank in the Philippines, implemented Finacle on the IBM System Z server to transform its business and leverage new growth opportunities in an increasingly competitive consumer banking market. The transformation was completed smoothly with no disruption in services to RCBC customers.
In September 2013, Infosys announced the launch of Finacle 11E, an advanced universal banking solution that simplifies banking transformation. The solution, built on the component model, helps banks of all sizes efficiently modernize their operations in a phased manner, reducing the risks in the journey. The enterprise class components are expected to improve both the bank's efficiency and the customer experience across all channels. Some of the new enterprise components added to the Finacle suite include - Payments, Multichannel Framework, Offers and Catalog, Liquidity Management, and Dashboards.
In November, 2014 it has successfully implemented its Finacle™ core banking solution for Discover Financial Services (NYSE: DFS), a leading U.S. direct bank and payment services company.
Finacle from Infosys was positioned as the leader in Gartner Magic Quadrant for International Retail Core Banking in November 2014, ahead of SAP and Temenos, demonstrating the highest Ability to Execute, and Completeness of Vision.
In August 2014, Infosys from Finacle was identified as a long term leader by Forrester for offering comprehensive banking functionalities. With capabilities to support customer focused banking, customer oriented product configuration, a multi channel capability and social media support, Finacle topped the Forrester Wave: Customer-Centric Global Banking Platforms.
- "Infosys offering Finacle to more Indian banks". Mumbai. The Economic Times. 25 April 2011. Retrieved Jul 2, 2014.
- "Ukraine bank selects Infosys’ Finacle solution". Bangalore. The Hindu. 11 September 2011. Retrieved Jul 2, 2014.
- "Al Hilal Bank implements Infosys' Finacle solution". Bangalore. The Hindu. 29 May 2009. Retrieved Jul 5, 2014.
- Das, Goutam (23 July 2011). "US bank cancels Infosys $20-m Finacle contract". Bangalore. Financial Express. Retrieved Jul 5, 2014.