EY, EdgeVerve partner on banking transformation with Finacle

By Robin Amlot

EY has announced an alliance between EY India and EdgeVerve to help global banks and financial institutions drive digital transformation. The alliance also covers EY member firms in the UK, US and Belgium, with further global expansion planned.

EdgeVerve, a wholly owned subsidiary of Infosys, will leverage its Infosys Finacle Digital Banking solution suite, which provides banks with a cloud-native and modular platform across the digital core, engagement, and experience layers of banking.

Together, EdgeVerve and EY teams plan to assist banks of all sizes and stages of digital maturity to accelerate their transformation journeys. Financial institutions may leverage the joint proposition to provide customers with intuitive user experiences, data-driven engagement, and improved automation.

EY believes that now more than ever, as banks and financial institutions plan for a post-COVID-19 world, financial services will need to harness the power of technology to transform and grow, while meeting future customer expectations.

Commenting on the alliance, Jan Bellens, EY Global Banking & Capital Markets Sector Leader, said: “Financial institutions are looking to adapt and modernise in an increasingly challenging banking environment comprised of non-traditional players, slow economic growth and overwhelmed IT departments. Integrating the sector capabilities of EY with the Finacle technology platform is critical to providing clients with quality customer experiences and insights-driven interactions.”

Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle added: “Digitisation is fundamentally reshaping the banking industry. Today, banks need to engage with customers in new ways, innovate continuously to stay relevant, operate efficiently to stay competitive and drive constant transformation. Our digital banking solution suite provides a broad range of industry-leading capabilities to help financial institutions drive success across these objectives. The combination of our solution suite and EY teams’ consulting capabilities and industry experience will assist banks to scale their digital transformation journeys with confidence and predictability.”