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Infosys launches products for payments banks

Infosys has come out with two new financial products specifically for the newly announced payments banks and the proposed small finance banks. The products – Finacle Payments Bank and Finacle Small Finance Bank solutions – are part of EdgeVerve Systems, the product subsidiary of Infosys. Venkatrama Gosavi, regional head for Growth Markets of Infosys Finance, said these solutions are specifically tailored for organizations seeking payments banks and small finance banks licenses from the RBI. With these solutions, licensees can set up the required technology backbone and become operational quickly, he added. The products provide capabilities to enable various distribution models like traditional banking, agency banking, mobile wallet, and micro ATMs. Gosavi added that these solutions are also available in a hosted environment apart from on-premise, which ensures low capital investments.

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