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Paytm opts for Finacle

Paytm, which is in the final stages of launching its payments bank has opted for Finacle of Infosys as its CBS. According to news reports, the company has also engaged Wipro as system integrator to set up its technology infrastructure. Infosys is understood to have received an interim letter of intent from Paytm in this regard. Infosys has deployed Finacle at India Post, which is also in the process of launching a payments bank. Reports also suggest that Airtel, which is another entity that has received the in-principle approval to set up a payments bank will be deploying Finacle. As a system integrator, Wipro will manage the integration of various systems such as regulatory reporting and anti-money laundering solutions, apart from looking after Paytm’s data centers.

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