Bank of Commerce Accelerates Digital Transformation, Collaborates with Infosys Finacle

Bank of Commerce (BankCom), a subsidiary of the San Miguel Corporation (SMC) group, tapped Infosys Finacle, a global leader in banking technology, in order to accelerate its digital transformation and reinvent its client experience.

The collaboration will allow BankCom to enhance its systems with advanced and comprehensive banking solutions from Infosys Finacle. This entails replacing outdated systems with newer, more efficient technologies.
BankCom, for example, will be able to launch new, distinctive banking products and services faster than ever before because of Finacle's flexible product factories.
Customers will also benefit from a more secure and user-friendly banking experience because of the new open Application Programming Interfaces (APIs).

Customers will have fast access to their account information across many platforms because of Finacle's Customer Data Hub, making banking more accessible and personalized.

Through the Finacle Liquidity Management solution, retail and corporate users will be able to manage and optimize liquidity on any device and across borders, currencies, and banks.

Another tool, Finacle Alerts, will rapidly notify clients and designated bank personnel of noteworthy account activity via SMS or email.

BankCom President and CEO Michelangelo R. Aguilar and Senior Vice President and Chief Information Officer Marie Suzanne Sison-Sevilla recently led a signing ceremony with representatives from Infosys Finacle.
“We are pleased to have chosen Infosys Finacle due to its established presence in the Philippines, robust solutions suite, and record of reliable delivery in the market,” Aguilar said.

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

Venkatramana Gosavi, Senior Vice President & Global Head of Sales at Infosys Finacle, for his part, said: "We are delighted to be selected as the preferred partner for Bank of Commerce’s digital core transformation journey."

Gosavi expressed confidence that Finacle's array of solutions would help the bank achieve a focused customer banking platform that is aligned with strategic business and technology requirements.