Infotech Lead India: Bancolombia has deployed Infosys’ Finacle to operate a seamless platform across Latin America and consolidate operations from across the region into a single system.
Finacle’s universal banking enables Bancolombia to interface with all its branches. The bank can get a 360-degree view of all of its clients’ transactions across multiple subsidiaries.
Moreover, Finacle also gives Bancolombia a competitive edge by helping it process transactions in real-time. Bancolombia’s ability to enter transactions immediately is critical to decreasing costs as it expands across Latin America.
“Finacle is an across-the-board solution that integrates our regional operations. Because of the technology Finacle delivers, Bancolombia is more nimble than it’s ever been,” said Carlos R. Yepes, president, Bancolombia.
Finacle supports multiple languages and it will help both Spanish- and English-speaking subsidiaries, and is tailored to accommodate banking requirements in every region Bancolombia operates.
“Finacle gives Bancolombia an enormous competitive edge,” said Haragopal Mangipudi, global head, Finacle, Infosys. “Bancolombia can now get new products to market within days and they’re able to clear payments and loans immediately because of straight-through processing. Finacle centralizes all of the bank’s vital functions into one, easy-to-operate platform.”
Recently, software major Infosys announced that Nykredit, a leading financial institution in Denmark, has implemented Infosys Finacle core banking solution across the bank’s corporate lending business.
Infosys recently integrated and implemented Finacle enabled Two-Factor Authentication (2FA) solution at Federal Bank. The Two-Factor Authentication (2FA) solution is designed to strengthen the bank’s existing robust authentication system for its corporate and retail Internet banking customers.