Bank of Commerce taps Infosys for digital solutions

MANILA, Philippines — Bank of Commerce has tapped global banking technology leader Infosys Finacle to help accelerate its digital transformation and redefine banking experience for customers.

Bank of Commerce president and CEO Michelangelo Aguilar said the bank partnered with Infosys Finacle due to its established presence in the Philippines, robust solutions suite, and record of reliable delivery in the market.

“The modernization of our core banking system is an integral part of Bank of Commerce’s digital transformation journey as a universal bank in delivering a truly digital banking experience to our clients,” Aguilar said.

The partnership will enable the San Miguel-led bank to upgrade its systems with Infosys Finacle’s advanced and comprehensive banking solutions. This means replacing legacy systems with new and more efficient technology.

“It will enable us to operate better, innovate, and keep pace with industry best practices, regulatory requirements, and evolving expectations of the markets we serve, notably the San Miguel Group and SMC ecosystem,” Aguilar added.

With the tie-up, Bank of Commerce will be able to roll out new, unique banking products and services quicker than ever using Finacle’s flexible product factories.

Furthermore, customers are also expected to benefit from a banking experience that is not only more secure, but also more user-friendly with its new open application programming interfaces (APIs).

Customers will have instant access to their account information across different platforms, making banking more convenient and personalized with Finacle’s customer data hub, while retail and corporate customers will also be able to manage and optimize liquidity on any device and across borders, currencies, and banks through the Finacle liquidity management solution.

Another module, called Finacle Alerts, will keep customers and designated bank personnel informed through SMS or email about significant account activities promptly.

Venkatramana Gosavi, senior vice president and global head of sales at Infosys Finacle, said the global leader in banking technology is delighted to be the preferred partner for the digital core transformation journey of Bank of Commerce.