Nepal’s Prabhu Bank Ltd., Implements Finacle Core Banking Solution to Strengthen its Digital Banking Strategy


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Comserve Inc.

Sep 20, 2020, 14:13 EST


Bronx, United States, Sep 20, 2020, 14:13 /Comserve / -- Global digital banking solution provider, Infosys Finacle along with Nepal’s leading banking and financial services group, Prabhu Bank Limited has recently announced the deployment of the Finacle Core Banking Solution.

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Bengaluru, India and Kathmandu, Nepal, September 17, 2020: Global digital banking solution provider, Infosys Finacle along with Nepal’s leading banking and financial services group, Prabhu Bank Limited has recently announced the deployment of the Finacle Core Banking Solution.

Headquartered in the Kathmandu region of Nepal, Prabhu bank is a commercialized ‘A’ grade bank licensed by the Nepal Rastra Bank. It is a leading financial institution with multiple branches all over the nation. The bank has been involved in several operations such as deposit schemes, loans and advances, inward & outward remittances, foreign exchange facilities, and trade financing, among others.

The new banking solution has been successfully implemented to provide a smooth digital experience combined with an enhanced service and product portfolio for its customers. Some of the features of the new banking solution include quick customers onboarding, customized product offerings, low service cost with improved user experience, and others.

Infosys Finacle's business partner, CAS Total Solutions, has played a crucial role in the deployment of the solution stack at the Prabhu Bank. Through their in-depth knowledge of local banking activities and expertise in the implementation of Finacle, they have facilitated effective and rapid execution.

Infosys Finacle is part of the EdgeVerve Systems which is a wholly-owned product subsidiary of Infosys. Finacle’s products have been deployed in multiple banks in more than 100 countries with over 1 billion consumers and 1.3 billion accounts. The Senior Vice-President and COO of Infosys Finacle, Sajit Vijayakumar, is excited with the deployment of the Finacle’s banking solution and believes that with this new solution, Prabhu Bank will be able to leverage the efficiency of the bank’s operation and boost the customer experience across different channels.

Earlier this month, Infosys announced its plan to acquire one of the leading ServiceNow Elite Partners in Europe, GuideVision to expand the portfolio of Infosys Cobalt’s cloud services and bolster the presence of nearshore delivery across Europe. As per the Q1 ended June 30, 2020 results, Infosys reported consolidated revenue of USD 3,121 million this year as compared to the previous year’s result of the same period, which was USD 3,131 million, a minor decline by (-) 0.3% Y-o-Y. However, the net profit increased by 3.3 % to USD 564 million from the previous year’s value of USD 546 million.

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