Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, June 26 2018 - 21:45
AsiaNet
Infosys Finacle to Power Santander UK's International Cash Management System
BANGALORE, India and LONDON, June 26, 2018 /PRNewswire-AsiaNet/ --

- The modern solution suite will strengthen Santander UK's multi-channel 
offering 

Infosys Finacle [https://www.edgeverve.com/finacle], part of EdgeVerve Systems, 
a fully owned subsidiary of Infosys (NYSE: INFY), and Santander UK, a leading 
financial services provider in the UK, today announced the launch of a new 
inter-bank cash management system for its corporate customers.

     (Logo: https://mma.prnewswire.com/media/633365/Infosys_Logo.jpg )

To enhance the user experience, Santander will introduce an inter-bank cash 
management portal to provide its corporate customers a fully-integrated 
solution with resilient, secure cash management services accessible through any 
device of their choice. This will enable greater personalization options and 
the ability to rapidly introduce new product innovations for customers. 
Santander will utilize Finacle's proven digital offering which includes Finacle 
Online Banking, Omnichannel Hub, Payment Solution and Liquidity Management 
Solution to help achieve this, and to better support its customers.

Highlights 

- With Finacle, Santander UK will be able to strengthen its multi-channel cash 
management, cash forecasting and payment services 
- Finacle's Liquidity Management Solution (LMS) will enable multi-bank 
reporting and cash management capabilities including sweeping, target balancing 
and notional pooling 
- The Finacle solution suite will provide an aggregated view of customer 
balances across multiple accounts and a view of liquidity positions across 
Santander's global banking group 
- The design of the offering will help accelerate further payment innovations 
and manage changes easily and on demand 
- Further, corporate treasurers will be empowered to design liquidity 
structures to achieve the required level of visibility and control over funds. 
The open APIs will also enable corporates to embed cash management services 
within their own ERP solutions 
- The Finacle solution suite will be made available in a cloud hosted 
environment ensuring quick time to market, improving underlying infrastructure 
and allowing greater efficiency and scalability 

Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle, said, 
"Corporate banking customers across the world are becoming increasingly digital 
in their operations and sophisticated in their demands from their banking 
relationships. Santander UK's decision to undertake this transformation 
program, is a reflection of the bank's abiding commitment to deepening customer 
satisfaction, while modernizing for the future. Santander UK will benefit 
through Finacle's proven end-to-end solutions and rich experience of 
implementations in 100 countries."

Bart Timmermans, Head of Global Transaction Banking (GTB), Santander UK, said, 
"Using Finacle solutions, Santander will provide our corporate customers a 
single point of access to better manage their interbank global commercial cash 
flow conveniently and securely. It represents a significant part of GTB UK's 
channel strategy, helping to prepare the bank for its shift towards serving its 
digitally enabled corporate clients."

Click here [https://www.edgeverve.com/transforming-corporate-banking-uk] to 
view how Santander is Transforming Corporate Banking with Infosys Finacle.

About Santander UK 

Santander UK is a financial services provider in the UK that offers a wide 
range of personal and commercial financial products and services. It has 
brought real competition to the UK, through its innovative products for retail 
customers and relationship banking model for UK SMEs. At 31 March 2018, the 
bank has 19,500 employees. It serves around 14 million active customers, via a 
nationwide branch network, telephone, mobile and online banking; and 64 
regional Corporate Business Centres. Santander UK is subject to the full 
supervision of the Financial Conduct Authority (FCA) and the Prudential 
Regulation Authority (PRA) in the UK. Santander UK plc customers are protected 
by the Financial Services Compensation Scheme (FSCS) in the UK.

Banco Santander (SAN SM, STD US, and BNC LN) is a leading retail and commercial 
bank, founded in 1857 and headquartered in Spain. It has a meaningful market 
share in 10 core countries in Europe and the Americas, and is the largest bank 
in the euro zone by market capitalization. At the end of 2017, Banco Santander 
had EUR 986 billion in customer funds (deposits and mutual funds), 133 million 
customers, 13,700 branches and 200,000 employees. Banco Santander made 
attributable profit of EUR 6,619 million in 2017, an increase of 7% compared to 
the previous year.

About Finacle 

Finacle is the industry-leading digital banking solution suite from EdgeVerve 
Systems, a wholly owned product subsidiary of Infosys. Finacle helps 
traditional and emerging financial institutions drive truly digital 
transformation to achieve frictionless customer experiences, larger ecosystem 
play, insights-driven interactions and ubiquitous automation. Today, banks in 
over 100 countries rely on Finacle to service more than a billion consumers and 
1.3 billion accounts. Finacle solutions address the core banking, omnichannel 
banking, payments, treasury, origination, liquidity management, Islamic 
banking, wealth management, analytics [ 
http://www.edgeverve.com/finacle/solutions/Pages/finacle-analytics-platform.aspx 
], artificial intelligence [https://www.infosys.com/nia ], and blockchain 
[https://www.edgeverve.com/finacle/finacle-trade-connect ] requirements of 
financial institutions to drive business excellence.  An assessment of the top 
1250 banks in the world reveals that institutions powered by the Finacle Core 
Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio 
than others. To know more, visit http://www.finacle.com.

Safe Harbor 

Certain statements in this release concerning our future growth prospects are 
forward-looking statements regarding our future business expectations intended 
to qualify for the 'safe harbor' under the Private Securities Litigation Reform 
Act of 1995, which involve a number of risks and uncertainties that could cause 
actual results to differ materially from those in such forward-looking 
statements. The risks and uncertainties relating to these statements include, 
but are not limited to, risks and uncertainties regarding fluctuations in 
earnings, fluctuations in foreign exchange rates, our ability to manage growth, 
intense competition in IT services including those factors which may affect our 
cost advantage, wage increases in India, our ability to attract and retain 
highly skilled professionals, time and cost overruns on fixed-price, fixed-time 
frame contracts, client concentration, restrictions on immigration, industry 
segment concentration, our ability to manage our international operations, 
reduced demand for technology in our key focus areas, disruptions in 
telecommunication networks or system failures, our ability to successfully 
complete and integrate potential acquisitions, liability for damages on our 
service contracts, the success of the companies in which Infosys has made 
strategic investments, withdrawal or expiration of governmental fiscal 
incentives, political instability and regional conflicts, legal restrictions on 
raising capital or acquiring companies outside India, and unauthorized use of 
our intellectual property and general economic conditions affecting our 
industry. Additional risks that could affect our future operating results are 
more fully described in our United States Securities and Exchange Commission 
filings including our Annual Report on Form 20-F for the fiscal year ended 
March 31, 2017. These filings are available at http://www.sec.gov. Infosys may, 
from time to time, make additional written and oral forward-looking statements, 
including statements contained in the company's filings with the Securities and 
Exchange Commission and our reports to shareholders. In addition, please note 
that the date of this press release is mentioned at the beginning of the 
release, and any forward-looking statements contained herein are based on 
assumptions that we believe to be reasonable as of this date. The company does 
not undertake to update any forward-looking statements that may be made from 
time to time by or on behalf of the company unless it is required by law.

Source: Infosys