NEW YORK and BANGALORE, November 30,
2016 /PRNewswire/ --
Finacle, part of EdgeVerve Systems, a product subsidiary of
Infosys (NYSE: INFY), announced that Marcus by Goldman Sachs has
implemented the Finacle Core Banking Solution for its consumer
lending operations. Marcus, a brand of GS Bank, has deployed the
Finacle solution to manage the complete consumer loan-servicing
life cycle. The fully cloud-based model, hosted by Goldman
Sachs, allows Marcus to achieve the necessary scale as well as
provide enhanced functionality, business confidence and security to
its consumers.
(Logo:
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Highlights:
- Comprehensive research was conducted by Goldman Sachs to
understand consumer preferences around unsecured lending and
borrowing priorities. Marcus then used these insights to design
differentiated consumer lending products on the Finacle
solution.
- Marcus is now able to deliver extensive self-service
capabilities on digital channels to design truly personalized
products. The system will give end-consumers the flexibility to
choose lending terms such as repayment amount and tenor.
- Marcus has designed and built modern technology operations by
ensuring straight-through-processing across digital channels to the
Finacle solution. Leveraging Marcus' technical architecture, the
Finacle solution optimised using the RESTful APIs and process
orchestration capabilities.
- The entire program was completed in just eight months,
leveraging the agile implementation framework and the
pre-configured US-compliant Finacle Core Banking Solution. The
solution provided out-of-the-box compliance for federal and state
regulations, thus removing the potentially high cost and lengthy
timeline of building a fully-functional, compliant technology
platform in-house.
- The Finacle solution provides a 24/7, real-time, scalable
platform which has helped to enable Marcus to create products, open
accounts and manage the entire loan-servicing lifecycle, including
payments, whilst ensuring a superior customer experience.
- Finacle's open architecture, integration capabilities and
scalability seamlessly aligned and became part of Goldman
Sachs' wider ecosystem of enterprise applications.
Quotes:
Sanat Rao, Chief Business
Officer and Global Head,
Finacle:
"Marcus by Goldman Sachs is displaying exemplary vision in
creating new business opportunities by leveraging modern
technology. With the Finacle solution, a real differentiated
capability has been achieved by delivering personalized offerings
and providing a customer experience to compete with traditional
banks and new-age alternative lending providers. The implementation
once again reiterates Finacle's industry strengths to enable fast
and low-risk digital transformation for financial
institutions."
Boe Hartman,
CTO, Marcus by Goldman Sachs (Digital Finance
Technology):
"With the successful deployment of the Finacle Core Banking
Solution we have the agility to respond to customer needs, the
scalability to adapt with market requirements while providing the
superior customer experience required in today's competitive
digital age."
About Marcus by Goldman Sachs
Marcus by Goldman Sachs (http://www.marcus.com) provides
products to help people manage their finances. The first product
from Marcus is a fixed-rate, no-fee unsecured personal loan that
enables customers to tailor their monthly payment options to fit
their schedule and budget. Marcus, a brand of Goldman Sachs,
benefits from the firm's 147-year history of financial expertise,
risk management and customer service.
About EdgeVerve Systems Ltd
EdgeVerve Systems, a wholly owned subsidiary of Infosys,
develops innovative software products and offers them on-premise or
as cloud-hosted business platforms. Our products help businesses
develop deeper connections with stakeholders, power continuous
innovation and accelerate growth in the digital world. We power our
clients' growth in rapidly evolving areas like banking, digital
marketing, interactive commerce, distributive trade, credit
servicing, customer service and enterprise buying.
Today EdgeVerve products are used by global corporations across
financial services, insurance, retail and CPG, life sciences,
manufacturing, and telecom.
Finacle, part of the product company EdgeVerve Systems, a
subsidiary of Infosys (NYSE: INFY), is a universal banking
solution, and the choice of financial institutions across 94
countries and serves over 848 million customers - estimated to be
nearly 16.5 percent of the world's adult banked population. Over a
billion bank accounts are powered by Finacle globally.
To know more, visit http://www.edgeverve.com
Safe Harbor
Certain statements in this press 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, 2016. 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
November 30, 2016, 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.