B’desh bank deploys Infosys core banking solution to tailor products for customers

Bangladesh-based Community Bank has deployed Infosys’ core banking solution Finacle Core Banking to provide its customers tailored products with a unified 360-degree view and gain real-time insights from them to customise the solution to each customer.

Set up in September last year and owned by the Bangladesh Police Welfare Trust, Community Bank is a scheduled bank and is part of a list of banks maintained under the Bangladesh Bank Order, 1972. 

Finacle is Infosys’ flagship banking and financial solution which, according to the company’s website, has been deployed in over 100 countries to service close to 1.3 billion accounts. The solution was deployed by Best of Breed Software Solutions (BBSSL), an Infosys Finacle business Partner from Dhaka.

The Finacle platform is part of EdgeVerve Systems, which was acquired by Infosys in February 2014.

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“Pervasive digitisation, challenging economic climate and evolving customer demands are a reality that present themselves to any new bank entering the industry,” Venkatramana Gosavi, senior vice president and global head of sales at Infosys Finacle, said in a statement.

“With Finacle, Community Bank gains the flexibility to launch and update products and services to drive continuous innovation and accelerate growth,” Gosavi added.

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The security architecture of Finacle will also help the bank protect its infrastructure, data and application layers with identity management, access management and limits management. The bank will also benefit from the ecosystem of Infosys’ partners to help with co-innovation, the statement added.

Finacle’s competitors include BaNCS by TCS, Temenos, Oracle and SAP.