Bank of Sydney goes live with core and digital banking

Bank of Sydney has gone live with a new digital banking platform on Amazon Web Services in Australia. Infosys Finacle delivered the rollout through Finacle Software-as-a-Service.

The launch combines Finacle Core Banking Solution, Finacle Digital Engagement Hub, Finacle Online Banking and Finacle Mobile Banking on one cloud-based platform. According to Infosys Finacle, the go-live marks a major step in Bank of Sydney’s digital transformation.

For Bank of Sydney, the platform creates a future-ready base for long-term growth. It is designed to support innovation, scalability and changing customer expectations.

With a unified setup, Bank of Sydney has simplified its IT landscape and reduced complexity. As a result, the bank now has a more agile operating environment.

Finacle pre-configured the platform for Australian banking products and processes. It also connects with linked systems through open APIs.

That design has helped Bank of Sydney simplify operations and increase automation and digitisation across key processes. Staff get a more efficient model, while customers get a better banking experience.

Customers now have real-time processing, fast payments, expanded self-service options and integrated online and mobile banking. Those services are intended to make everyday banking faster, easier and more secure.

Meanwhile, Bank of Sydney can launch new products more quickly through Finacle Reference Bank. The system also supports governance, risk and regulatory requirements.

Infosys Finacle says its cloud-native platform gives Bank of Sydney more room to scale and innovate. It also helps the lender respond faster as customer expectations shift.

Bank of Sydney since 2001

Bank of Sydney has operated in Australia under a full banking licence since 2001. Its branch network spans Sydney, Melbourne and Adelaide.

Australian regulators including APRA and ASIC oversee the bank under local standards. Bank of Sydney is also a member of the Australian Banking Association.

On the supplier side, Finacle is a unit of EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Infosys trades under the ticker INFY on the NSE, BSE and NYSE.

The deployment highlights how Infosys Finacle is targeting banks that want to modernise technology foundations. In this case, the company used AWS to deliver core and digital banking tools through a software-as-a-service model in Australia.