Infosys Finacle Announces Digital Banking SaaS offering for Urban Cooperative Banks in India
Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, today announced its Digital Banking SaaS (Software-as-a-Service) offering designed as an accessible solution to help Indian Urban Cooperative Banks (UCBs) to modernize their business and operations. Designed specifically for the UCB segment, the platform has already seen adoption by three leading UCBs in India - Vidya Sahakari Bank, Urban Co-operative Bank, Bareilly and Zoroastrian Cooperative Bank. The cost-effective SaaS offering combines the comprehensive functional spread of the industry-leading Finacle solution suite, with complementary solutions and capabilities from Finacle business partners, Saraswat Infotech Pvt Ltd (SIPL) and Best of Breed Software Solutions (BBSSL), to help UCBs reduce cost, drive operational efficiencies, and deliver world-class customer experiences.
Highlights:
• Delivered as a subscription, the end-to-end digital banking solution suite includes Finacle Core
Banking and complementary solutions from SIPL, with an option to adopt additional solutions
like ATM switch, mobile banking, internet banking and more.
• With end-to-end managed services, UCBs will benefit from an opex model of spending for their
technology transformation, ensuring that banks only pay for what they use without significant
upfront investments.
• Finacle’s in-built product factory and the easy elasticity of Cloud migration, along with robust
localized functionality and regulatory compliance requirements will enable UCBs to rapidly
innovate, roll-out products and services on-demand to meet the evolving needs of their
members.
• Best of Breed Software Solutions (BBSSL), a proven Finacle implementation partner, will drive
an accelerated and efficient implementation of the SaaS offering.
Vidyadhar Anaskar, Chairman, Vidya Sahakari Bank Ltd, and Maharashtra Urban Cooperative Banks Federation, and Vice President, National Federation of Urban Cooperative Banks & Credit Societies LTD (NAFCUB), said, “Urban Cooperative Banks (UCBs) have immense potential waiting to be harnessed. The UCBs’ geographic and demographic reach within the urban and rural populace is unmatched, not to mention the richness of the banking relationship with their customers. At Vidya Bank, we are looking at leveraging this opportunity, to leapfrog into the future with a modern technology platform as a key strategic asset. With Infosys Finacle, we are able to fully embrace our digital-first vision and we look forward to differentiating ourselves with a winning combination of a strong community presence and tech-powered, innovative, contextual, banking products.”
Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, “For over two decades, Finacle has been a strong partner to financial institutions in India in their transformation journey. Today, the UCB landscape is being reshaped by several forces in the new normal – rapidly changing customer behavior, new agile competitors, and evolving regulations. With our relentless focus on innovation, we are pleased to power the next phase of growth for UCBs in the country with our accessible, SaaS offerings, supported by our partners. This is a new step in our commitment to help UCBs retain the customer trust that they have built over the years and to build a resilient organization for the fut ure. I am delighted to welcome our early adopters - Vidya Bank, Urban Co-operative Bank, Bareilly and Zoroastrian Co-operative Bank - to the growing community of UCBs powered by Finacle.”
Dr. Devadatta Chandgadkar, CEO & Company Secretary, Saraswat Infotech Ltd, said, “We are excited to announce this strategic partnership with Infosys Finacle, the market-leading provider of banking technology. Continued investment in cutting-edge technology is vital for cooperative banks to counter the heightened competitive and regulatory pressures. A SaaS-based, digital transformation solution is a costeffective way to modernize and expand the business, while providing a world -class banking experience to their members. Together with Infosys Finacle, we will help UCBs take a generation leap with their business transformation.”
LUPIN
Global pharma major Lupin Limited (Lupin) today announced that it has received approval for its Sevelamer Hydrochloride Tablets, 400 mg and 800 mg from the United States Food and Drug Administration to market a generic equivalent of Renagel® Tablets, 400 mg and 800 mg, of Genzyme Corporation. The product will be manufactured at Lupin’s facility in Nagpur, India. Sevelamer Hydrochloride Tablets are indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis. Sevelamer Hydrochloride Tablets (RLD: Renagel®) had estimated annual sales of USD 80 million in the U.S. (IQVIA MAT March 2021).
Nazara Technologies Limited
Company has signed binding term sheet on June 16, 2021 with Arrakis Tanitim Organizasyon Pazarlama San.Tic. Ltd. Sti. (Publishme) and founders and shareholders of Publishme, for the proposed investment of approx. Rs 20.00 Crore by the Company through its subsidiary for acquiring 69.82% stake in Publishme by way of primary and secondary transaction.
Publishme is a full-service games marketing and publishing agency which works extensively with gaming publishers in Turkey and MENA (Middle East & North African) region.
TTK PRESTIGE
TTK Prestige Ltd extended its e-commerce network to include its leading UK cookware brand Judge, which was launched in India in 2017. The brand is part of the TTK Prestige owned Horwood Homeware company and is targeted at value-seeking customers, who are in the market for quality kitchen solutions at competitive price points. The Judge portfolio includes a vast array of products such as pressure cookers, cookware, gasstoves, bottles and flasks, mixer grinders, dinner sets as well as small appliances. Judge’s new e-commerce site is www.judgeappliances.com, where consumers can find the entire collection for purchase.
With a 100 year legacy in the UK, Judge’s innovative products are renowned for its quality and craftsmanship. The brand offers consumers functionality and performance, with attractive price points ranging from INR 225 up to INR 7995. All products are backed by the after sales network of TTK Prestige.
Mr. Chandru Kalro, Managing Director, TTK Prestige said: ‘’We are pleased to launch the e-commerce platform for Judge Kitchenware and Appliances. This is an opportune moment for us to accelerate the company footprint by catering to a new segment of value seeking consumers, who might be seeking lower price points. Now consumers across the country can avail of high quality and affordable products that can transform their kitchens and their cooking experience.’’
The e-commerce platform has very attractive discounts and offers on almost all products ranging from 20 to 30%