![]() The Finacle SaaS runs on Amazon Elastic Compute Cloud (Amazon EC2) and uses Elastic Load Balancing with Amazon Simple Storage Service (Amazon S3). With AWS, we are helping banks gradually adopt the cloud to cope with ever-changing customer needs, operational pressures, and volatile business demands.” Venkatramana Gosavi, senior vice president and global head of Sales at Infosys Finacle, says, “At Infosys Finacle, we believe that cloud adoption can dramatically change the way banks operate. The transition to the AWS Cloud will help UnionBank to scale both its retail and corporate banking operations, rapidly develop and deploy new capabilities, and deliver frictionless, personalized, and highly secure digital banking services to its customers in a cost-efficient manner. The move is part of the bank’s larger vision to become the first bank in the Philippines operating fully on the cloud, with AWS as its platform of choice. ![]() Finacle is an industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. They are migrating its core banking platform from an on-premises deployment to the Finacle Digital Banking Solution Suite on Cloud, a software as a service (SaaS). ![]() To facilitate collaboration with its partners and deliver value to its clients through a superior customer experience, UnionBank is working with Infosys Finacle, an Amazon Web Services (AWS) Partner. “Through a collaborative approach, we combine the unique value propositions of fintechs with our own to provide better value for our customers,” says Dennis Omila, chief information and operations officer at UnionBank. In 2019, UnionBank launched its technology company, UBX, both to build financial solutions for individuals, institutions, and micro, small, and medium enterprises (MSMEs) and to increase technology adoption in the Philippines. ![]() Instead of viewing fintechs as competitors, Union Bank of the Philippines (UnionBank) has embraced the concept of ubuntu, an ancient African word that means “I am because we are.” For UnionBank, ubuntu emphasizes the spirit of collaboration it has adopted, and the belief that innovation results from working together rather than against one another. Digital transformation is leading banking agendas, and speed is vital to retain customer loyalty. Faced with diminishing profit margins and a thriving fintech scene, the challenge for most banks in the Asia-Pacific region is to improve customer satisfaction while reducing costs. ![]()
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