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Infosys to offer financial services to US-based Verizon Communications

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Infosys

Bengaluru: Global software major Infosys Ltd will offer its flagship Finacle product to service US banks’ Verizon cloud platforms.

“We will offer solutions to US banks and financial institutions through the software-as-a-service (SaaS) model, which is serving 547 million customers worldwide,” the city-based bellwether said in a statement on Friday.

The US-based Verizon Communications operates the country’s wireless network with 109 million retail connections nationwide. Its enterprise solutions arm helps clients to improve performance and manage risk using multiple platforms over its secure mobility, cloud computing, and networking.

“Our financial services provide a single real-time view of customers, members, products and transactions. We help banks and credit unions to enhance operational efficiency, speed to market for new offerings and reduce time and cost of compliance,” Infosys vice-president Michal Reh said on the occasion.

Finacle’s SaaS offering will empower financial institutions to deliver a multi-channel experience to customers, without much capital infusion and greater flexibility.

“As providing real-time and compelling customer experience across multiple channels is a difficult task even for financial institutions (FIs), Finacle solutions on Verizon cloud will be able to provide banking services to their customers without major investment,” Reh said.

Flexibility of the service helps financial institutions comply with evolving federal and state statutory requirements.

“FIs will benefit from Finacle’s solution coverage and high-performance platform hosted on our cloud to help improve agility, achieve sustainable, profitable growth and drive their business,” Verizon vice-president Adam Famularo said on the occasion.

(IANS)

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Infosys Mulling to Re-Price Digital Services

The city-based IT major is looking at putting a premium value for offering digital services in view of its growing demand from its global clients

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Infosys, Digital, Services
We will relook at the pricing being offered depending on skills and experience, Infosys Chief Financial Officer Nilanjan Roy told reporters. Pixabay

 Software vendor Infosys is mulling to re-price digital services upwards in view of its high value business potential, an executive said on Friday.

“I think we have an opportunity on re-pricing digital services due to the scarce talent. We will relook at the pricing being offered depending on skills and experience,” Infosys Chief Financial Officer Nilanjan Roy told reporters here at a briefing on the company’s performance for the July-September quarter.

The city-based IT major is looking at putting a premium value for offering digital services in view of its growing demand from its global clients.

Revenue ($1,230 million) from digital services contributed 38 per cent to the company’s consolidated revenue of $3,210 million for the second quarter of this fiscal (2019-20), registering a 38 per cent yearly and 11 per cent quarterly growth.

Infosys, Digital, Services
I think we have an opportunity on re-pricing digital services due to the scarce talent. Pixabay

Chief Operating Officer U. B. Pravin Rao said digital services business in India was a small percentage of the overall pie, without quantifying the value.

“India digital business is a small percentage of our overall business in the domestic market. We are selective in what we want to do,” said Rao.

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Rao also clarified the digital services business was not facing any headwind in India due to the economic slowdown, as the exposure was smaller in volume and the company being selective in offering it. (IANS)