Infosys Finacle bags two major deals for direct banking sol

Infosys' product division, which markets Finacle banking solutions, has launched a direct banking software product and has bagged two major clients, including one in Europe.

"We signed up two major deals -- one in Europe and other one in North America," Infosys Technologies (Finacle) Head Haragopal M said. In this kind of market condition a solution like direct banking is compelling proposition for the advanced market, he said.

Giving a sense of the new product developed by the IT- bellwether, Haragopal said, direct banking is a comprehensive solution for banks to directly acquire, track and service customers, through the Internet, mobile or call center channels, in the complete absence of a brick and mortar infrastructure.

Built on new-generation technology, he said, it provides an platform that supports the full-fledged delivery of a comprehensive range of assets and liabilities solutions, facilitated through direct access to the customer 365 days a year.

The solution opens up an exciting new channel for banks to convert prospects to profitable customers, without the support of a branch, he added.

Haragopal said, there is a great opportunity in the segment and going forward there seems to a good traction in the segment.

Besides adding to the bottomline, the product suite would help banks to provide banking services in a cost-effective manner, he said.

About the June quarter performance of Finacle, Haragopal said the revenues of the company remained flat at USD 45 million.

During the quarter, Finacle added five customers and completed the implementation of six projects.