Infosys: Santander UK and Infosys Finacle launch new international cash management platform
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY) and Santander UK, today announced the deployment of Santander’s international cash management platform UK as part of the bank’s ongoing digital transformation program.
Santander Global Connect is a brand new cash management platform designed to support the international growth plans of Santander companies and corporate clients. The first version of the platform, which is currently in a pilot phase, allows clients to view liquidity held around the world. Future releases will enable digital self-service capabilities to manage, control and mitigate treasury and business risks, all from a single portal. Customer feedback will be a critical component of future improvements to ensure that the global cash management platform meets and exceeds customer requirements.
Strengths of the first version:
John Carroll, Head of International and Transactional Banking Services, Santander UK, said: “This new platform will allow us to help UK businesses of all sizes seamlessly manage their banking needs for international transactions and cash management. It will also help us develop and deepen relationships with existing clients and support the international growth needs of new clients. There has never been a more important and exciting time for businesses to consider international expansion. By working with Finacle, we are able to offer our clients an essential tool to support them, as well as our own international banking strategy, now and in the future. ‘
Sanat Rao, Commercial Director and Global Head, Infosys Finacle, said, “With the increased volatility and complexity of the global business environment, corporate treasurers must monitor and manage their liquidity and working capital positions in real time. We are delighted to expand our partnership with Santander UK to enable this to their investment and commercial banking clients. The new platform will power innovative global liquidity and liquidity management services, along with much-needed flexibility, openness and self-service capabilities. ‘
About Santander France
Santander UK is a financial services provider in the United Kingdom which offers a wide range of personal and business financial products and services. As of December 31, 2020, the bank had approximately 21,900 employees and serves approximately 14 million active customers, through a nationwide network of branches, telephone, mobile and online banking. Santander UK is subject to full supervision by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom. Eligible deposits from clients of Santander UK plc are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Finacle is the advanced digital banking solutions suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle is helping traditional and emerging financial institutions drive true digital transformation to achieve frictionless customer experiences, broader ecosystem play, information-driven interactions, and pervasive automation. Today, banks in over 100 countries trust Finacle to serve over 1 billion consumers and 1.3 billion accounts.
Finacle solutions meet basic banking, omnichannel banking, payments, treasury, structuring, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1,250 banks in the world reveals that institutions powered by the Finacle Core Banking solution enjoy an average 7.2% lower cost-to-income ratio than others.
To learn more, visit www.finacle.com
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