Infosys Finacle

Infosys Finacle states that it’s the bank’s data. The focus of the Finacle SaaS offering is to leverage a multi-layered integration foundation to allow flexible and secure access to the financial institution’s data. Full business functionality via APIs, customizable access to operational information and a standardized framework for bank-controlled bulk data access to the Finacle data stores. 

Infosys Finacle has long been an active participant in global integration standards definition and development initiatives (e.g., BIAN, IFX, XBRL). The Finacle banking platform is committed to support of existing and developing industry standards in the financial and banking industry for integration approaches, interface, security, payments and user interface standards. Alignment with the design and development of the FDX datasharing initiative is under assessment as a natural fit for the open data constructs of the Finacle SaaS offering.

Infosys Finacle states that the Finacle core solution is geared for the reality of open banking, supporting open APIs to enable a bank’s multifaceted integration within its ecosystem of customers, developers and business partners. With its real-time processing engine, open APIs and embedded customer insights, Finacle delivers one of the most advanced digital banking foundations to allow banks to effectively embrace the digital banking reality. Finacle offers an optimal mix of functional component granularity and flexible API based access enabling acceleration of a banks’ ability to effectively leverage the broader digital ecosystem with API stores, embedded services, and secure fintech engagement.

(Including Exclusivity, Coterminous Contracts, Deconversion Fees, Limitation of Liability, SLAs and Early Termination Penalties)

Infosys Finacle states the following:

• Exclusivity may be negotiated for a period.
• Coterminous contracts are not applicable.
• Reasonable per-file charge and per-hour rate for deconversion.
• Total liability of Infosys Finacle to be capped at 12 months’ subscription fees paid prior to the date of claim.