Infosys is releasing a new version of its Finacle core banking product Wednesday, one that has been broken up into pieces with the goal of letting banks take on the new software at their own pace.
"As we approach the U.S. market, not many banks are in a position to do a rip and replace," says Haragopal M., Global Head of Finacle. "We thought, how can we help these banks do a migration?"
Finacle 11E can be purchased in modules covering product sets such as savings, checking and credit cards. Adaptors have been written to integrate with some commonly used middleware.
Finacle 11E also comes with a new multichannel framework designed to maintain real-time transaction context as customers navigate channels. An "Offers and Catalog" feature lets banks publish instant offers across channels. The software also offers liquidity management tools and loan management software.
Bangalore-based Infosys has improved Finacle's ability to comply with U.S. regulations, Haragopal says. The company is also working with a U.S. bank to implement the software.