XacBank Mongolia selects Infosys Finacle for digital transformation

XacBank, a leading universal bank in Mongolia, has selected Infosys Finacle’s core banking, treasury, and corporate banking solution suites to power XacBank’s digital transformation.

The Finacle solution suite will enable XacBank to drive all-round business transformation to improve customer engagement, operational excellence, and the flexibility to launch tailored offerings on demand, for continuous innovation and growth.

The broad suite of enterprise products -deposits, loans, limits and collaterals, payments, trade finance – will enable XacBank to standardize business processes, simplify enterprise architecture and offer tailored services, Infosys said ina statement during market hours today, 24 November 2020.

The IT major’s consolidated net profit jumped 13.71% to Rs 4,858 crore on 3.82% rise in net sales to Rs 24,570 crore in Q2 September 2020 over Q1 June 2020.

Shares of Infosys gained 0.38% to Rs 1,144.55 on BSE. Infosys is a global leader in next-generation digital services and consulting.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor