Infosys rises 1% on order for Finacle from Hong Kong bank

Shares of Infosys  gained 1 percent in early trade Wednesday as its product subsidiary has received order for banking solution from a Hong Kong-based bank.

“Infosys Finacle and Fubon Bank (Hong Kong) announced the bank’s decision to adopt the new generation Finacle Core Banking solution. This transformation initiative will significantly improve the bank’s operational efficiency, strengthen innovation capabilities and support rapid growth,” says the software services provider.

Finacle is the banking solution from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Fubon Bank (Hong Kong) is a wholly owned subsidiary of Fubon Financial Holding Company. With the new core banking system, Fubon Bank will be able to reduce time and cost to compliance, says Infosys, adding new system will also enable the bank to seamlessly integrate multiple channel applications to deliver superior customer experience across devices.

Recently Infosys Finacle partnered with Oracle to offer Finacle on Oracle Cloud, which will enable banks globally to run enterprise-class banking applications such as payments and core banking on the cloud. It is the second order win by Infosys in December.

Earlier Infosys won a contract to transform application landscape of DNB Bank of Norway.

The country’s second largest software services provider will announce its October-December quarter earnings on January 14, 2016. At 09:26 hours IST, the scrip of Infosys was quoting at Rs 1,086.00, up Rs 9.10, or 0.85 percent on the BSE.