Finacle

Infosys launched Finacle in 1999 as a software package providing banking process automation and digital banking services.^[1] In 2002, Infosys consolidated its other banking software products, including BankAway and PayAway, under Finacle.^[2]

In 2006, Finacle reported that it generated about 69% of its total revenue from overseas locations, largely from banks and financial institutions in the EMEA region.^[3][4] In 2007, Finacle released its Bank-in-a-Box (BIAB) software framework.^[5] In 2008, Finacle added Islamic banking, wealth management, mobile banking,^[6] and rural banking capabilities.^[7]

In 2010, Finacle reported around $300 million in annual revenue.^[8] In 2013, American Banker noted that the new version of Finacle allowed the purchase of individual modules.^[9] In 2014, Finacle global head Mangipudi Haragopal resigned and was replaced by Michael Reh.^[10][11]

In 2015, Infosys merged Finacle with its software products subsidiary EdgeVerve Systems.^[12][13] Under EdgeVerve Systems, Finacle became a cloud-based platform, and included customer relationship management and payments offerings.^[1] In 2017, Finacle released Trade Connect, a blockchain-based trade finance application for banks.^[14][15]

Finacle had 6,000 employees in 2015.^[16] As of 2020, Finacle claimed that it was being used by banks in over 100 countries.^[17][1][18]

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