Infosys Finacle, part of EdgeVerve Systems—a wholly-owned subsidiary of Infosys has announced a strategic partnership with Bank of Sydney (BoS) to support the bank's digital transformation journey. As part of this collaboration, Bank of Sydney has chosen the Infosys Finacle Digital Banking Suite, which will be deployed in a Software-as-a-Service (SaaS) model via Amazon Web Services (AWS) Cloud.
The implementation includes a comprehensive range of Finacle solutions such as the Core Banking Solution, Digital Engagement Hub, Online Banking, Mobile Banking, and Digital Onboarding. With these tools, BoS aims to enhance both staff and customer experiences, reduce operational complexity through automation and digitization, and strengthen its foundation for future growth.
The Finacle Digital Banking Suite will enable Bank of Sydney to accelerate its transformation with preconfigured, Australia-ready products and processes offered through the Finacle Reference Bank. The bank will enhance its digital services by providing seamless omni-channel self-service capabilities via mobile and online platforms. Additionally, the new system will allow BoS to streamline its IT infrastructure by retiring outdated applications, reducing technical debt, and fostering a more agile environment. The platform will support rapid innovation through configuration-driven product development and open API integration, while AWS Cloud will provide the scalability needed to accommodate ongoing business growth.
Melos Sulicich, CEO of Bank of Sydney, emphasized the importance of the transformation, stating that the bank’s goal is to become Australia's leading deposit bank and drive significant growth in the years ahead. He noted that the adoption of a modern core and digital banking platform is essential to meet changing customer expectations, technological evolution, and regulatory requirements. Partnering with Infosys Finacle offers the bank a proven platform and experienced transformation partner to meet these objectives.
Jamie Simon, Director of Banking and Financial Services for Australia and New Zealand at AWS, highlighted the benefits of the collaboration, noting that leveraging Finacle on AWS allows Bank of Sydney to scale efficiently, reduce costs, and accelerate its digital transformation. He added that the deployment provides a secure and flexible environment for innovation and seamless integration of digital services.
Sajit Vijayakumar, Chief Business Officer and Global Head at Infosys Finacle, expressed excitement about the partnership, calling it a significant milestone in Finacle’s growing presence in Australia. He reiterated Infosys Finacle’s commitment to offering modern, cloud-native banking solutions that empower financial institutions like Bank of Sydney to drive better engagement, enhance innovation, and optimize operations in the digital era.