Infosys Hits 52-Week High as Finacle's SaaS Platform Boosts Regional Investment Corp Australia's Digital Lending

30 Jan 2024 , 12:59 PM

Infosys shares reached a new 52-week high of ₹1,689.90 on BSE after the successful adoption of its subsidiary Infosys Finacle’s SaaS platform by Regional Investment Corp Australia.

Infosys Finacle, in collaboration with Regional Investment Corporation (RIC), implemented the Finacle Digital Lending Solution Suite on AWS in a Software-as-a-Service (SaaS) model.

Regional Investment Corporation is an Australian government concessional finance provider for farmers.

The transformation project, completed in nine months, includes the adoption of Finacle Online Banking and Finacle Alerts Solution to provide streamlined digital lending services to the Australian agricultural sector.

The Finacle SaaS platform adoption has reduced operating costs and enhanced self-service capabilities for RIC, enabling digital financial lending services at lower costs.

RIC’s digital transformation includes a SaaS model on AWS, integration with banking, CRM, data lake, and document management providers through comprehensive API capabilities.

RIC gains the advantage to swiftly implement Federal government mandates with this capability.

Finacle Online Banking Platform with a smart dashboard allows RIC to provide self-service features, reducing reliance on customer care support and leading to heightened customer satisfaction.

Chris Rawlins, Executive Director Transformation, Regional Investment Corporation (RIC), acknowledges the Infosys Finacle Lending solution for supporting evolving business demands with agility for new products and regulations mandated by the Federal Government.

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