Infosys commits to hiring 20,000 graduates amid industry-wide layoffs and uncertainty.
NMB Bank, a leading Bank from Zimbabwe, has selected Infosys' Finacle suite of enterprise banking solutions.
Infosys Technologies on Tuesday announced that Finacle universal banking solution has achieved the highest scalability and transactions throughput per second of 11,180 in online mode and 19,568 TPS in batch mode.
State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations
Infosys is all set to aggressively market its core banking solution product Finacle to mature banking markets in the US, Europe and Australia.
Debate on, as part of wider plan to have products & platforms business as another unit.
Besides, the company has sought nod from shareholders for issuing bonus in the ratio of 1:1
After striking good deals in the domestic market, Infosys is now firming up plans to tap the Eastern European markets for its banking product, Finacle.
IT firm's performance shows trouble in products segment, a majority of whose share comes from Finacle
Last week, its global head of strategic sales, marketing and alliances Prasad Thrikutam resigned from the job marking the 11th senior management executive exit from Infosys since Murthy's return.
Infosys Technologies is investing an additional $10 million to further globalise its banking solutions product Finacle, besides expanding its sales force in Europe and Asia Pacific for banking products.
Finacle, the core banking software product from Infosys, has been positioned in the leader Quadrant in the recently released 'Magic Quadrant for International Retail Core Banking 2006' report.
The CBI has registered an FIR against an officer of Punjab National Bank (PNB), now suspended, for allegedly cheating the state-run lender to the tune of Rs 168.59 crore through 34 fake bank guarantees, officials said Thursday. Nearly four years after LoU (letter of undertaking) scam allegedly perpetrated by uncle-nephew duo of Mehul Choksi and Nirav Modi bled the PNB to the tune of about Rs 13,000 crore, bank official Priya Ranjan Kumar followed similar modus operandi to issue 34 fake bank guarantees without making any entries in its core banking system Finacle, according to the CBI FIR. "As per the interim investigation report dated November 27, 2022, it emerges that the fraud has been perpetrated by the bank staff in collusion with some unknown persons through illegal and unauthorized usage of the bank's systems.
Shares of Infosys hit a five-month low of Rs 1,419.60, down 1 per cent on the BSE in Tuesday's intra-day trade. The stock was quoting at its lowest level since October 10, 2022. In past two days, the stock of information technology (IT) bellwether was down 4 per cent after the company on Saturday informed to the stock exchanges that Mohit Joshi, president of the company has resigned effective March 11, 2023. Mohit Joshi will be on leave thereafter and his last date for the company would be June 9, 2023, Infosys said in an exchange filing.
'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.
Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
Software firm dismisses charge, says Finacle has proven ability.
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. Standard codes like ISO Country / Currency, SWIFT BIC Codes, UCPDC Codes are also incorporated in the Finacle BIAB framework, the company informed.
Upgradation to the new product (from Infosys) will stabilise by this month-end
As many as 13 RRBs have finished implementing Finacle CBS solution for their operations.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
Infosys Technologies on Tuesday announced that it has signed an agreement with China Banking Corporation in the Philippines, to deploy its Internet banking solution Finacle.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Software major Infosys Technologies announced on Wednesday the launch of South Asia chapter of Fulcrum -- the Finacle User Forum.\n\n\n\n
'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
The decision has been taken because Executive Chairman N R Narayana Murthy attempts to bring Infosys back to basics.
It would help the PSU transform its banking and insurance operations cross 150,000 post offices in the country.
The Reserve Bank of india is likely to tell state-run United Bank of India (UBI), which has seen erosion of capital due to bad loans and higher provisioning to implement prompt corrective action.
"In India technology expenditure is on the upswing and we think its the right time to enter India," Infosys COO S D Shibulal said, while talking about the growing focus on the Indian market. The company on Wednesday announced its partnership with Bharti Airtel in the media space.
Software majors Infosys and Wipro, who are vying with each other for global information technology outsourcing contracts, have now joined hands to outsmart competitors and win domestic banking contracts.
The transformation will be driven by the number of initiatives the company has identified.
Software major Infosys on Wednesday said it had identified Thailand as a key target market for its global banking solutions suite, Finacle.
Sources said the spin-off, a joint venture company, was yet to be named.
Infosys said it is in discussion with over 10 institutions globally for deploying the solution
Infosys on Friday posted a 3.5 per cent rise in quarterly net profit, lagging analyst estimates.
TCS plans to build ignio as a standalone company.
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