| Finacle | |
|---|---|
 | |
| Original author(s) | Infosys |
| Developer(s) | Infosys |
| Initial release | 1999 |
| Operating system | Cross-platform |
| Service name | Infosys Finacle Banking |
| Type | Banking software |
| License | Commercial |
| Website | www |
Finacle is a banking software developed by Infosys. Finacle was created in 1999 as a core banking software suite and has been a part of Infosys' subsidiary EdgeVerve Systems since 2015.
Infosys launched Finacle in 1999 as a software package providing banking process automation and digital banking services. [1] In 2002, Infosys consolidated its other banking software products, including BankAway and PayAway, under Finacle. [2]
In 2006, Finacle reported that it generated about 69% of its total revenue from overseas locations, largely from banks and financial institutions in the EMEA region. [3] [4] In 2007, Finacle released its Bank-in-a-Box (BIAB) software framework. [5] In 2008, Finacle added Islamic banking, wealth management, mobile banking, [6] and rural banking capabilities. [7]
In 2010, Finacle reported around $300 million in annual revenue. [8] In 2013, American Banker noted that the new version of Finacle allowed the purchase of individual modules. [9] In 2014, Finacle global head Mangipudi Haragopal resigned and was replaced by Michael Reh. [10] [11]
In 2015, Infosys merged Finacle with its software products subsidiary EdgeVerve Systems. [12] [13] Under EdgeVerve Systems, Finacle became a cloud-based platform, and included customer relationship management and payments offerings. [1] In 2017, Finacle released Trade Connect, a blockchain-based trade finance application for banks. [14] [15]
Finacle had 6,000 employees in 2015. [16] As of 2020, Finacle claimed that it was being used by banks in over 100 countries. [17] [1] [18]
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