Infosys’ Finacle core banking system gains new taker in Myanmar
Infosys Finacle now has three takers in Myanmar
Ayeyarwaddy Farmers Development Bank (A bank) in Myanmar has signed to implement Infosys’ Finacle core banking system.
The bank was set up in 2014 to bring development in agro-based industry through value chain financing. It also intends to support SME development and financial inclusion “by delivering technology-enabled, diversified banking products and services through multi-channels approach”, it says.
The new core banking platform will achieve “significant automation” front-to-back office, reducing manual effort and optimising various banking processes.
ACE Data Systems, Finacle’s business partner in Myanmar, is the system integrator for the project.
U Ye Myat Soe, MD of A bank, says Finacle was selected for its “strong solution credentials, proven track record and experience of working with leading financial institutions across the world”.
Infosys’ flagship core banking system already has two other takers in Myanmar: Asia Green Development Bank (AGD Bank) and Myawaddy Bank.
