February 11, 2020
STG Partners with Infosys Finacle
STG Announces Partnership with Infosys Finacle to Bring Powerful Cloud Native Banking Platform to US Community Banks
Harrisburg, Pennsylvania, Feb 12th, 2020 /PRNewswire/ — Summit Technology Consulting Group (“STG”), a leading fintech and cloud modernization firm, today announced a collaboration with Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys (NYSE: INFY), and Amazon Web Services (AWS) to bring Finacle’s leading Digital Banking Suite to community financial institutions in the United States. This announcement was made at the ABA Community Bankers Conference in Orlando on February 11th, to an audience of over 1,000 banking executives from across the US.
Finacle is the industry-leading digital banking solution suite that addresses the core banking, omnichannel banking, payments, treasury, origination, cash management, and analytics requirements of financial institutions to drive business excellence. Banks of all sizes in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts. STG and Finacle will deliver the Finacle solution suite as a SaaS offering on AWS.
This initiative is directed at allowing community banks to tap into the power of the Finacle solution suite, while providing a service offering and hosting model that is familiar in the US.
“For years, Finacle has serviced many of the world’s largest banking customers. We recognize that many smaller community banking organizations in the US require modernization within their core and digital systems – we believe this new banking platform initiative will enable new innovation for customers looking to grow, service customers differently, and to optimize the cost of delivery,” stated Ben Wallace, CEO of STG. “Our announcement today reflects our commitment to help community organizations embrace modern core platform capabilities. The Finacle solution suite brings a full range of open APIs and flexible access to data, delivered as a SaaS offering on AWS.”
Venkatramana Gosavi, SVP and Global Head of Client Engagement, Infosys Finacle, “Community banks in the US have long struggled with legacy solution stacks that inhibit innovation and growth. Finacle’s industry-leading digital suite will offer an exciting proposition to transform and gain access to a modern platform leveraged by market disruptors. The suite will help banks dramatically reduce time to market, and operational costs, while empowering them to significantly elevate their customer engagement capabilities. We are happy to collaborate with Summit and AWS to bring this SaaS offering to the market.”
To learn more about the Infosys Finacle solution suite visit https://www.edgeverve.com/finacle/
About Summit Technology Group (STG) – Summit was founded over 12 years ago with a mission to bring enterprise class IT services to the mid-tier and commercial space. Profitable since inception, Summit has formed a unique partnership with industry leaders focused on helping financial institutions of all sizes modernize their technology and back-office operations.
About Infosys Finacle – Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts. Finacle is consistently rated as a leader in the market by leading industry analysts and is proven to be the most scalable banking platform globally.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. These solution are available for on-premise deployments or as cloud hosted banking platforms. Finacle has over 500 client deployments across financial institutions of all sizes. The solution’s componentized structure and enterprise-class capabilities help banks boost the agility and efficiency of their operations, and significantly improve customer experience across channels. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others. To learn more, visit www.finacle.com
About Amazon Web Services (AWS) – For 13 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 175 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 69 Availability Zones (AZs) within 22 geographic regions, with announced plans for 13 more Availability Zones and four more AWS Regions in Indonesia, Italy, South Africa, and Spain. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.