Infosys said the modern platform will drive innovation led growth for the challenger bank.
Community Bank, among the newest scheduled banks in Bangladesh, and Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, on Monday (9 March) announced the successful implementation of the Finacle Core Banking Solution at the bank, in just 48 days."With the new banking platform, Community Bank is well placed to provide a truly digital banking experience to its retail and corporate customers. Among multiple benefits, the modern platform enables the bank to launch new products within a fraction of time, offer a differentiated customer experience and empower the bank to grow rapidly," Infosys said in a statement.
Masihul Huq Chowdhury, Managing Director and CEO, Community Bank Bangladesh Ltd, said, As a new bank in a mature banking landscape, our focus is to leverage a digital-first strategy to provide reliable, high quality financial services to our customers. Infosys Finacle has strong solution credentials, a proven track record of empowering leading banks in Bangladesh, and experience of working with global financial institutions. With Finacle's cutting-edge digital banking platform we believe we are ready to meet our current requirements and future vision with ease.
Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, Pervasive digitization, challenging economic climate and evolving customer demands, is a reality that presents itself to any new bank entering the industry. With our proven platform, which comes configured with pre-packaged products and services, and our enabled partner network, we continue to provide the fastest route to market for new banking entrants seeking to differentiate themselves with innovation and excellent customer experience. With Finacle, Community Bank gains the flexibility to launch and update products and services to drive continuous innovation and accelerate growth.
Infosys' consolidated net profit soared 12.23% to Rs 4,457 crore on a 2.04% rise in net sales to Rs 23,092 crore in Q3 December 2019 over Q2 September 2019.
Infosys is engaged in consulting, technology, outsourcing and next-generation services.
Shares of Infosys fell 4.55% to Rs 705.65. The scrip hovered in the range of Rs 697.40 to Rs 725 so far.
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