Credit: Shutterstock photoPremium technical and system software company Infosys Ltd.INFY recently extended its unique Finacle Core and Digital banking solutions for benefit of the U.S. financial institutions. These new software solutions would help banks track its members, products, customers and transactions on a real-time basis. We believe the strategic initiative would not only modernize the U.S. banking technology but also enhance Infosys' brand status in the global forum.
Finacle Core and Digital banking solutions have already been offering services to more than 547 million individuals around the world. However, from now onward, the U.S. financial institutions will be able to access Finacle suite of software solutions through the Software-as-a-Service ('SaaS') model.
The new SaaS-based Finacle Core and Digital banking solutions would help lower the operational costs and enhance working efficiency of U.S. banking institutions as well as other credit unions. It would also reduce compliance cost for customers and help speed up any new offerings of the financial organizations.
Infosys' latest Finacle Core and Digital banking solutions would be available to the U.S. financial institutions through Verizon Communications Inc.'s VZ cloud-based platform. Verizon offers communication services in the form of local phone service, long distance, wireless and data services. The company's operations are classified into two general segments for financial reporting: Wireline and Domestic Wireless.
Infosys helps its clients augment their performance by utilizing its proprietary Global Delivery Model (''GDM''). The company markets its services to large enterprises in North America, Europe and the Asia Pacific region. Its responsibility revolves around providing business process management (''BPM''), information technology (''IT'') consulting, custom application development, maintenance and production support, software re-engineering, package evaluation and implementation services. The company expects the new Finacle solutions, available via Verizon Cloud, to help the financial institutions match pace with the dynamic market scenario, thereby increasing the utility level of customers.
Stocks to Consider
Infosys currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include CDK Global, Inc. CDK and GTT Communications, Inc. GTT . Both stocks sport a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
