Fubon Bank is replacing its Misys legacy system with Infosys Finacle

Hong Kong-based Fubon Bank has selected a new core banking system in the shape of Infosys Finacle.

The choice of Finacle was underpinned by the bank’s need for modernisation. A new system, the bank hopes, will enable it to offer a more service-oriented approach.

‘Over the years we have continued to expand our franchise’, says Raymond Lee, CEO and managing director at Fubon Bank. The replacement of its legacy system, he adds, will enable it to ‘significantly improve’ its operational efficiency and risk management.

Fubon Bank is a subsidiary of a Taiwanese financial services group, Fubon Financial Holding Co.

The bank’s legacy set-up includes Misys’ older core software offering, Bankmaster, which will be replaced with Finacle.

Shares in Infosys rose by 1% following the announcement.

Busy Infosys

Earlier this month, Infosys went public on a deal with Norway’s DNB for a five-year application transformation programme.

The vendor has also teamed up with Oracle to release a new offering, ‘Finacle as a managed service on Oracle Cloud’. Banks can choose to use the entire banking platform as a managed service or can use specific services, such as payments, the vendor says.

By Alex Hamilton

by IBS Intelligence