The BIAB developed by Finacle has the powerful architectural foundation and is a fully web-enabled application and process stack in a ready-to-deploy state, Infosys said in a communique to the Bombay Stock Exchange.
Finacle is a universal banking solution from Infosys which addresses the core banking, treasury, wealth management, consumer and corporate e-banking, mobile banking and web-based cash management requirements of retail, corporate and universal banks worldwide.
"In today's world, mid sized banks need to rapidly respond to the changing consumer demands and in the competitive landscape, BIAB framework offers banks with a rapidly deployable solution that provides knowledge of best banking practices, processes and standards," Infosys Technologies Vice-President
and Head, Finacle Business, Haragopal M said.
Finacle developed the BIAB framework by leveraging the collective implementation experience across 55 countries of its consultants and by incorporating best practices from central banks and external consultants, the company said.
Standard codes like ISO Country / Currency, SWIFT BIC Codes, UCPDC Codes are also incorporated in the Finacle BIAB framework, the company informed.
Shares of company closed 0.65 per cent at Rs 1860.55 on the BSE.