Following this partnership, Infosys Finacle Suite is set to replace Keytrade Bank’s legacy platform and improve the development of the bank’s digital maturity. This will allow the financial institution to innovate, operate, and engage with its client base in a more secure and seamless manner, meeting their needs and preferences.
Furthermore, the deal will streamline the financial institution’s core banking ecosystem in order for it to offer enhanced efficiency, faster time to market for products and tools, as well as its technology architecture. Keytrade Bank will subscribe to the Infosys Finacle Suite in a software-as-a-service (SaaS) mode on the Microsoft Azure public cloud.
By modernising its services and solutions, Keytrade Bank will be enabled to significantly optimise operational efficiency by improving the overall digitalisation and automation of its products. Moreover, the SaaS deployment is set to provide higher availability and resilience in order to enhance the way Keytrade Bank’s core business works while improving its overall growth process.
The bank will also have the capability to leverage Infosys Finacle’s extensive open application programming interface (API), repository on cloud. This will offer the financial institution the needed possibility to integrate with a large ecosystem of partners in an easy and secure manner.
Infosys Finacle’s solutions address the core banking, lending, digital engagement, cash management, wealth management, payments, analytics, AI, treasury, and blockchain requirements of banks and FIs. The company had several collaborations and partnerships in the last couple of months, covering multiple geographies.
In March 2023, Infosys Finacle signed a strategic deal with ABN AMRO in order to implement the Infosys Finacle Liquidity Management Solution for the bank’s corporate clients.
Following this collaboration, ABN AMRO’s corporate customers were set to have the possibility to use a wider range of services in order to identify, manage, and improve liquidity positions on the go as well, in a more efficient and safe manner. The bank also provided users with a single point of access to better manage their commercial cash flows across the world securely, using any device they prefer to leverage and at any point in space and time.
The service was made available in a cloud-based environment which offered clients a quick time-to-market seamless relay of updates, as well as the possibility to allow enhanced scalability and transparency. Moreover, it enabled the bank to offer tailored liquidity products to its customer base and to introduce new service innovations. The cash pooling programme was included as well, focusing on the improvement of its corporate channel offerings.
The deal aimed to enhance the target balancing, national pooling, IFRS accounting, and aggregated balance agreement of clients, with the purpose to improve customer experience and serve its digitally enabled users.
Earlier in 2022, India-based B2B SaaS startup Nuclei partnered with Infosys Finacle for expanding its industry collaboration and boosting innovation in the banking sector. The deal was focused on enhancing engagement and retention on the bank’s digital ecosystems while adding a merchant marketplace to their platforms.
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