Infosys Finacle has been selected by Philippines-based Bank of Commerce (BankCom) to power the bank’s core banking digital transformation.
In this connection, the bank, which is an affiliate of conglomerate San Miguel (SMC), will leverage the Infosys Finacle Suite .
Infosys Finacle, which provides digital banking solutions, is part of EdgeVerve Systems, a fully-owned subsidiary of Infosys.
Its solutions address core banking, lending, wealth management, treasury, digital engagement, payments, cash management, analytics, artificial intelligence (AI), and blockchain requirements of financial organisations.
Infosys Finacle senior vice president and sales global head Venkatramana Gosavi said: “With Finacle’s proven suite of solutions, we are confident that the bank will be able to achieve a client-focused banking platform, aligned with the bank’s strategic business and technology requirements.
“This partnership marks yet another milestone in our presence in the Philippines over the last two decades and underlines our commitment to helping Philippine banks stay ahead in the digital age.”
By utilising the Infosys Finacle suite of offerings, BankCom will replace its legacy platform.
The suite, which includes Finacle Core Banking, Finacle Liquidity Management and Finacle Customer Data Hub solutions, will also help the bank to engage, innovate, and operate better to keep pace with changing market expectations.
By leveraging the core banking solution in the suite, BankCom will gain an extensive set of capabilities, including flexible product factories. This will allow the bank to explore innovations with simple configurations to introduce differentiated products and services.
The liquidity management solution from Infosys Finacle will enable BankCom’s customers to discover, manage, and streamline liquidity across borders, currencies, and banks, easily on a device of their preference.
Furthermore, the organisation-wide unification of customer data management will be facilitated by the customer data hub solution. This will support BankCom users to have a real-time view of customer relationships across platforms and channel applications.
Bank of Commerce president and CEO Michelangelo Aguilar said: “The modernisation of our core banking system is an integral part of BankCom’s digital transformation journey as a universal bank in delivering a truly digital banking experience to our clients.
“It will enable us to operate better, innovate, and keep pace with industry best practices, regulatory requirements, and evolving expectations of the markets we serve, notably the San Miguel Group and SMC ecosystem.”
