Infosys Finacle partners with UAE’s Zand Bank to revolutionize corporate banking with cloud solutions
Infosys Finacle, a part of EdgeVerve Systems and a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), together with Zand Bank (Zand), the UAE’s inaugural digital-only banking institution, have officially announced their partnership. This collaboration signifies Zand Bank’s subscription to the Infosys Finacle Solutions suite to revolutionize its corporate banking services. The implementation of Infosys Finacle’s cutting-edge, cloud-native solutions on Microsoft Azure exemplifies Zand’s dedication to fostering a customer-centric, future-proof banking experience, enhanced by the latest advancements in artificial intelligence (AI) and predictive analytics.
The integration of the Finacle Corporate Banking Solution Suite by Zand Bank marks a pivotal step in the bank’s strategy to accelerate the deployment of innovative services. The suite’s modular framework and comprehensive feature set, including numerous Open APIs, align perfectly with Zand’s objectives of fostering continuous innovation and enhancing customer satisfaction. This move is anticipated to significantly expedite Zand’s launch of new, innovative banking services, setting a new benchmark in customer-centric banking.
Furthermore, the adoption of Infosys Finacle aligns with Zand’s cloud-native strategy, promising exceptional performance, scalable flexibility, and a substantial enhancement in operational efficiency. By leveraging the vast capabilities of Infosys Finacle in data assimilation and processing, Zand is positioned to integrate sophisticated analytics platforms, thereby offering leading-edge services to its clientele.
This strategic partnership enables Zand to solidify its technological foundation and secure a leading position in the industry. The integration of emergent technologies such as AI, blockchain, and digital asset management through Infosys Finacle propels Zand to the forefront of digital finance innovation, fostering a competitive edge in the rapidly evolving digital landscape.
Michael Chan, CEO of Zand, expressed enthusiasm about the adoption, stating, “This strategic move empowers us to fortify our position at the forefront of innovation, enabling seamless deployment of digital assets, AI, and blockchain technologies. Embracing the future, we are poised to redefine banking experiences and drive unparalleled value for our customers.”
Echoing this sentiment, Sajit Vijayakumar, Chief Business Officer at Infosys Finacle, remarked, “A digital revolution is shaking up the corporate banking sector, paving the way for modern, customer-centric models. We are delighted that Zand, as a trailblazer in this domain, has chosen Infosys Finacle for their ambitious project to redefine corporate banking excellence.”
The collaboration between Infosys Finacle and Zand Bank is a testament to the transformative power of digital technology in the banking sector. It highlights the shift towards more agile, efficient, and customer-focused banking solutions that leverage the cloud, AI, and blockchain technologies. As digital banking continues to evolve, partnerships like these will play a crucial role in shaping the future of the industry, offering customers innovative services that meet their evolving needs.