Philippines’ Sterling Bank picks Infosys Finacle for core banking overhaul

By Puja Sharma

Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, a global AI-first business consulting and technology services firm, and Sterling Bank of Asia (Sterling Bank) in the Philippines have selected the Infosys Finacle Software-as-a-Service (SaaS) platform for its transformation program.

Sterling Bank has opted to leverage the Finacle Core Banking, Finacle Customer Data Hub, Finacle Trade Finance and Finacle Origination solutions for its requirements. Through this strategic collaboration with Infosys Finacle, Sterling Bank expects to enhance the experience of both employees and customers, maintain high standards of availability and reliability in its banking services, and reduce operational complexity through automation and digitisation, thereby supporting its future growth.

With the new platform, Sterling Bank will be able to simplify the management of technology operations through a SaaS-based deployment, allowing the bank to focus on strategic growth and innovation. Further, the bank will be able to drive faster innovation cycles while remaining secure and compliant through access to periodic upgrades, security updates, and feature enhancements. In addition, the cloud-hosted model will help the bank scale seamlessly and on demand to support evolving business needs.

Cecilio Paul D. San Pedro, President and Chief Executive Officer, Sterling Bank of Asia, said, “At Sterling Bank of Asia, we aim to integrate forward–thinking solutions into our operations to better serve the Philippine market. Achieving this requires us to continuously respond to fast–evolving customer expectations, the accelerating pace of digital innovation, and an increasingly complex regulatory landscape. Modernising our technology foundation for both core and digital banking is essential to realising our goals. With Infosys Finacle, we have a trusted transformation partner and a next–generation banking platform that will equip us to meet the dynamic requirements of our business, our customers, and the wider regulatory environment.”

Sajit Vijayakumar, Chief Executive Officer, Infosys Finacle, said, “Our collaboration with Sterling Bank of Asia is yet another example of Finacle’s growing presence in the Philippines. This collaboration reflects our continued commitment to delivering next-generation solutions to thrift banking community without upfront infrastructure investments. With Finacle SaaS, tailored for the Philippine market, Sterling Bank of Asia will gain a modern, customer–first digital banking platform to help position the bank for long–term success.”