Infotech Lead India: Indian software major Infosys announced that Nykredit, a leading financial institution in Denmark, has successfully implemented Infosys Finacle core banking solution across the bank’s corporate lending business.
This implementation marks Finacle’s entry into the Danish market, said Amit Dua, associate vice president and head for EMEA – Finacle, Infosys.
Finacle is a product from the strategic association between Infosys and CA Technologies, a provider of IT management solutions including identity and access management software.
“From the outset, it’s been a meeting of minds with both parties working in unison and learning from each other to develop and deploy a world class banking solution that will power the bank’s business transformation,” Dua said. “We look forward to embarking on the next phases of the project and helping Nykredit reach new heights in banking excellence.”
Built on new generation technologies, Finacle underpins the bank’s business transformation program aimed at growing its corporate and retail business across its home market.
Nykredit is Denmark’s largest mortgage lender with a 42.6 percent market share and 5.2 percent commercial banking market share. In the first phase of this initiative, Nykredit’s corporate customers are already enjoying the benefits of personalized offerings and one of the bank’s newest capabilities: multi-currency loans.
With Finacle, the bank now has a technology platform from which it can quickly and easily define and roll out new products and functionalities, seamlessly integrate with other systems within the bank, manage future customizations in-house to meet business and IT requirements and scale up operations to support forecasted growth across segments and services
“Adopting a partnership with Infosys has been important to the success of this project. The integrated Nykredit and Infosys team worked closely with the bank’s IT and business teams,” said Per Ladegaard, group managing director, Nykredit. “They laid a solid foundation from which we will be able to offer superior products and service to our clients, and achieve our business growth objectives.”
Infosys recently integrated and implemented Finacle enabled Two-Factor Authentication (2FA) solution at Federal Bank.
The Two-Factor Authentication (2FA) solution is designed to strengthen the bank’s existing robust authentication system for its corporate and retail Internet banking customers.