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Finacle from Infosys
Original author(s) Infosys
Developer(s) Infosys
Initial release 1999 (1999)
Stable release
10.2.09 / November 1, 2011; 5 years ago (2011-11-01)
Development status Active
Written in Java, C/C++
Operating system Cross-platform
Type Banking software
License Commercial

Finacle is a core banking product developed by Indian corporation Infosys that provides universal banking functionality to banks. Finacle was built under the leadership of Sharad Hegde who served as CTO of the firm. In August 2015, Finacle became part of EdgeVerve Systems Limited.[1]

Finacle is used by banks across 84 countries that serve over 450 million customers.[2] Finacle has a strong focus on product strategy and a global market presence.[3][4]


In 2003, India’s largest bank, State Bank of India (SBI), deployed Infosys’s Finacle core banking, e-banking and treasury solutions across its foreign branches outside India.[5] SBI implemented Finacle in 25 countries. The bank's global business operations were standardised on the Finacle platform, on three data centres in the US, UK, and India. These three data centres were later downsized to a single one in India, while upgrading the entire system. This achieved a reduction in costs as well as allowing the bank to offer more products, roll them out faster.[6]

The next implementation was at DBS Bank, Singapore, who 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 with core banking product offerings, and strengthen its technology platform. DBS Bank implemented Finacle in 13 countries.[7]

In 2008, Finacle was implemented at Punjab National Bank, India’s second largest public sector bank at all its 4,604 branches and extension counters on Sun infrastructure and the Oracle database. The bank said that the solution was rolled out across 100 per cent of PNB’s branches in record time. The bank had 22,500 concurrent users on the Finacle platform, with the number of peak transactions at 3.5 million.[8]

In 2009, Emirates NBD, created from the merger of two leading banks in Dubai (Emirates Bank and National Bank of Dubai) implemented Finacle to be the solution "core to the merger" for facilitating the bank's expansion plans into the region.[9]

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.[10]

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. Malawi,Uganda, Tanzania, Zambia and Botswana are in the pipe line to launch operations on Finacle.[11]

In May 2012 Kotak Mahindra Bank implemented the Core Banking Solution platform Finacle. The entire implementation, which replaced the bank's legacy core banking system with no disruption to business, was completed in 18 months. Finacle 10 was found to be the best fit, both functionally and technologically by the bank.[12] Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra.[13]

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.[14]

In May 2013, Turkland Bank (T-Bank),[15] one of Turkey’s private banks completed the installation of the Infosys Finacle core banking solution, which includes customer relationship management (CRM) and treasury modules. The Turkish bank says that the live deployment of the Infosys Finacle software will enable T-bank to roll-out products faster and improve customer services helping to meet the growing needs of retail and corporate customers in a fast expanding economy.[16]

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.[17]

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.

In early 2015, First Merchant Bank of Malawi(FMB) successfully rolled out Finacle operations across all its branches within Malawi. Recently, Standard bank Malawi has also unveiled plans to roll out finacle operations by mid 2018.

Finacle also won a deal at Qantas Credit Union for deployment of the solution on a private cloud.[18]

Software products[edit]

Finacle offers a suite of products, which are periodically evaluated by independent research firms like Forrester.

  • Finacle Core Banking Solution
  • Finacle CRM Solution
  • Finacle Online Banking Solution
  • Finacle Treasury Solution
  • Finacle Wealth Management Solution
  • Finacle Islamic Banking Solution
  • Finacle Direct Banking Solution
  • Finacle Mobile Banking Solution
  • Finacle Mobile Teller Solution
  • Finacle on Cloud
  • Finacle Analytics Solution
  • Finacle Alerts Solution
  • Finacle Assure Solution
  • Finacle Finanz Tools
  • Finacle Digital Wallet
  • Finacle Origination Solution
  • Finacle Omni Channel Hub
  • Finacle Youth Banking Solution
  • Finacle SME Enable
  • Finacle Payments Solution
  • Finacle Liquidity Management Solution
  • Finacle Nostro Recon Solution
  • Finacle Customer Assist Solution
  • Edgeverve Blockchain Framework for Financial Services
  • Edgeverve Digital Authentication Solution

Market position[edit]

Several major customers of Finacle includes Bank of India, Oriental Bank of Commerce, Punjab National Bank, J&K, Bank of Baroda, IDBI Bank, Andhra Bank, Federal Bank, Punjab & Sind Bank, South Indian Bank, Qantas Credit Union in Australia,[19] ICICI Bank in India, DBS Bank, Indian Overseas Bank in India, [20] Discover Financial Services in the USA,[21] Emirates NBD[22], Al Hilal Bank in the United Arab Emirates.[23][24] and Corporation Bank.

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.[25]

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.[26]

IDC Financial Insights released in its new IDC MarketScape report, and noted Infosys-Finacle as a "leader". The solution is considered to exhibit high levels of strategic vision, demonstrable an ability to deliver functionality and support to their clients. The recent signing of new contracts in Europe indicated that the vendor was able to overcome the hurdles of regulatory requirements and budgeting constraints for core banking systems in Europe.[27]

Finacle Mobile Banking and e-Banking solutions were rated as ‘Best-in-Class’ for security and authentication capabilities and enterprise support, in a report published by CEB TowerGroup analysts[28]

Finacle was recognized as a leader among Omnichannel Banking Solutions. Six top omnichannel banking platforms were evaluated on a comprehensive set of 41 criteria focusing on strategy, current offering, and market presence. Finacle also achieved the highest score amongst all six vendors on the strategy and market presence criteria.[3]


  1. ^ "EdgeVerve joins Finacle". EdgeVerve. Retrieved 11 December 2015. 
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  4. ^ "Infosys offering Finacle to more Indian banks". Mumbai. The Economic Times. 25 April 2011. Retrieved Jul 2, 2014. 
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  10. ^ Das, Goutam (23 July 2011). "US bank cancels Infosys $20-m Finacle contract". Bangalore. Financial Express. Retrieved Jul 5, 2014. 
  11. ^
  12. ^ Finacle 10 was found to be the best fit, both functionally and technologically, Manian said, adding the bank has already seen a 44 per cent increase in the number of accounts added after implementation.
  13. ^ Kotak Mahindra Bank
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  15. ^ tr:T-Bank
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  23. ^ "Ukraine bank selects Infosys’ Finacle solution". Bangalore. The Hindu. 11 September 2011. Retrieved Jul 2, 2014. 
  24. ^ "Al Hilal Bank implements Infosys' Finacle solution". Bangalore. The Hindu. 29 May 2009. Retrieved Jul 5, 2014. 
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