Infosys wins digital banking deal from Philippines lender Sterling Bank

Sterling

Bank of Asia has selected Infosys Finacle's Software-as-a-Service (SaaS) platform as part of its transformation programme, the companies announced on Thursday.

Under the engagement, the Philippines-based bank will deploy Finacle Core Banking, Finacle Customer Data Hub, Finacle Trade Finance and Finacle Origination solutions.

As per a press release filed on NSE, Infosys said that through this strategic collaboration, Sterling Bank expects to enhance the experience of both employees and customers, maintain high standards of availability and reliability in its banking services, and reduce operational complexity through automation and digitization, thereby supporting its future growth.

The deal adds to Infosys Finacle's growing footprint in Southeast Asia, a region where banks are accelerating investments in cloud-based core banking systems to improve digital capabilities and reduce technology costs.

Sajit Vijayakumar, Chief Executive Officer, Infosys Finacle, said, “Our collaboration with Sterling Bank of Asia is yet another example of Finacle’s growing presence in the Philippines."

He added that with Finacle SaaS, tailored for the Philippine market, Sterling Bank of Asia will gain a modern, customer-first digital banking platform to help position the bank for long-term success.

Company added that with the new platform, Sterling Bank will be able to simplify management of technology operations by leveraging the SaaS-based deployment, allowing the bank to focus on strategic growth and innovation.

Further, the bank will be able to drive faster innovation cycles while staying secure and compliant through access to periodic upgrades, security, and feature enhancements. In addition, the cloud-hosted model will help the bank scale seamlessly and on demand to support evolving business needs.

Core banking modernisation has emerged as a major growth area for technology vendors as lenders increasingly move away from legacy systems in favour of cloud-based platforms that support real-time processing, digital onboarding and faster product launches.

Cecilio Paul D. San Pedro, President and Chief Executive Officer, Sterling Bank of Asia, said, “ Modernizing our technology foundation for both core and digital banking is essential to realizing our goals. With Infosys Finacle, we have a trusted transformation partner and a next-generation banking platform that will equip us to meet the dynamic requirements of our business, our customers, and the wider regulatory environment.”

Infosys Finacle is one of the company's key banking products and is used by financial institutions across more than 100 countries, serving banks ranging from large global lenders to regional and mid-sized institutions.

Infosys shares closed 1.30% lower at ₹1,042.90 on the NSE on June 25.

Also Read: Form 130 to replace Form 16 from FY27: How the new salary TDS certificate is expected to work