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Infosys has scored a strategic breakthrough in the Australian financial services market with its subsidiary, EdgeVerve Systems, announcing a landmark partnership with Bank of Sydney. The bank has officially subscribed to the Infosys Finacle Digital Banking Suite, delivered in Software-as-a-Service mode via AWS Cloud. This move marks a significant step in Bank of Sydney’s digital transformation journey and reinforces Infosys’s growing influence in global banking modernization.
Key Highlights From The Strategic Collaboration
- Bank of Sydney will deploy the Infosys Finacle Digital Banking Suite on AWS Cloud
- The suite includes core banking, digital engagement hub, mobile and online banking, and digital onboarding solutions
- The implementation will be delivered in SaaS mode, enabling scalability and agility
- The partnership aims to enhance customer experience, reduce IT complexity, and accelerate innovation
- Infosys Finacle’s Reference Bank model will provide Australia-ready products and processes
Why Bank Of Sydney Chose Infosys Finacle
Bank of Sydney’s decision to adopt Infosys Finacle was driven by its ambition to become Australia’s leading deposit bank. The bank is undergoing a major technology overhaul to meet evolving customer expectations, regulatory requirements, and competitive pressures.
The Finacle suite offers:
- A preconfigured Reference Bank tailored for Australian banking norms
- Superior omni-channel capabilities for mobile and online banking
- A unified platform that replaces multiple legacy systems
- Open API architecture for seamless ecosystem integration
- Dynamic scalability powered by AWS Cloud infrastructure
This transformation is expected to deliver faster time-to-market, improved operational efficiency, and a more agile IT environment.
Cloud-First Strategy And SaaS Advantage
By choosing a SaaS deployment on AWS Cloud, Bank of Sydney gains access to a secure, flexible, and scalable infrastructure. This model allows the bank to:
- Avoid upfront capital expenditure on hardware
- Scale services based on demand
- Ensure high availability and disaster recovery
- Accelerate innovation through continuous updates and modular enhancements
Infosys Finacle’s cloud-native architecture aligns with global banking trends, where agility and customer-centricity are paramount.
Impact On Infosys And The Broader Market
This partnership strengthens Infosys’s position in the global banking technology space, especially in the mature and competitive Australian market. It also signals growing trust in Indian IT firms to deliver mission-critical financial solutions at scale.
Market analysts expect:
- Increased traction for Infosys Finacle in the APAC region
- Potential expansion into other Australian banks and financial institutions
- Enhanced visibility for Infosys’s SaaS offerings in regulated markets
- A boost to Infosys’s revenue from cloud-based services and digital transformation projects
The deal also reinforces Infosys’s strategic alignment with AWS, showcasing the power of collaborative cloud ecosystems.
Customer Experience And Innovation Goals
Bank of Sydney’s CEO, Melos Sulicich, emphasized the importance of adapting to rapidly changing customer needs. The Finacle suite will enable the bank to deliver personalized, seamless, and secure digital experiences across channels.
Key customer benefits include:
- Faster onboarding and account servicing
- Real-time transaction capabilities
- Enhanced self-service options
- Consistent experience across mobile, web, and branch interfaces
The bank also plans to leverage Finacle’s configuration-driven innovation tools to launch new products and services tailored to customer segments.
Conclusion: A New Chapter In Banking Transformation
Infosys’s partnership with Bank of Sydney marks a pivotal moment in the evolution of digital banking in Australia. As financial institutions worldwide embrace cloud-native platforms, Infosys Finacle is emerging as a trusted enabler of transformation. With this deal, Infosys not only expands its global footprint but also sets a new benchmark for scalable, secure, and customer-centric banking solutions.
Sources: Infosys Press Release, CNBC TV18, PR Newswire Australia
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