Bank of Commerce joins Infosys Finacle to deliver Core Banking Transformation

By Gloria Mathias

Infosys Finacle and Bank of Commerce (BankCom), an affiliate of the San Miguel Corporation (SMC) group and a fast-growing universal bank in the Philippines, have announced the bank’s decision to select Infosys Finacle Suite for its core banking transformation.

Michelangelo R. Aguilar, President and CEO, Bank of Commerce said, “We are pleased to have chosen Infosys Finacle due to its established presence in the Philippines, robust solution suite, and record of reliable delivery in the market. The modernization of our core banking system is an integral part of BankCom’s digital transformation journey as a universal bank, delivering a truly digital banking experience to our clients. It will enable us to operate better, innovate, and keep pace with industry best practices, regulatory requirements, and evolving expectations of the markets we serve, notably the San Miguel Group and SMC ecosystem.”

Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, “With Finacle’s proven suite of solutions, we are confident that the bank will be able to achieve a client-focused banking platform, aligned with the bank’s strategic business and technology requirements. This partnership marks yet another milestone in our presence in the Philippines over the last two decades and underlines our commitment to helping Philippine banks stay ahead in the digital age.”

Key highlights include:

• Finacle’s componentized core banking solution will allow BankCom to replace the existing legacy core systems in a risk-mitigated manner to digitally transform its business.
• The Finacle Core Banking solution will provide the bank with a comprehensive set of capabilities, including flexible product factories that will enable BankCom with simple configurations to introduce differentiated products and services.
• The Finacle Liquidity Management solution will enable BankCom customers to identify, manage, and optimise liquidity across borders, currencies, and banks on the go and on a device of their choice.
• The Finacle Customer Data Hub solution will help unify customer data management across the organisation. It will empower BankCom users to have a real-time view of customer relationships across platforms and channel applications. The solution will deliver a strong digital foundation to create and deliver personalised services and experiences.