11/09/2020 | Press release | Distributed by Public on 11/09/2020 03:04
Leading non-bank lender will leverage Finacle's digital solution suite on cloud to drive scalable, digital customer experiences
Bengaluru, India and Sydney, Australia - November 09, 2020
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY) and Resimac, a leading non-bank lender in Australia and New Zealand, today announced the selection of Finacle Digital Banking SaaS to achieve end-to-end digital modernization to provide enhanced customer experience across all its brands in Australia and New Zealand. The comprehensive, Australia-ready, digital banking solution stack will be offered in a fully SaaS model on a state-of-the-art public cloud architecture, enabling Resimac to cost-effectively scale at will, while delivering personalized digital banking experiences with enhanced security.
Scott McWilliam, Chief Executive Officer, Resimac, said, 'At Resimac, we are engineering for the future. Our 'customer first' digital strategy recognizes that lending in the future will look fundamentally different from today. Our partnership with Infosys Finacle will enable us to seamlessly adapt to the dynamic and complex lending landscape, while serving our customers' financial needs in a secure manner. We are confident that Finacle's solutions delivered on the cloud will accelerate our transformation into a digital-first lender and help deliver a range of multi-accessible, flexible and innovative financial solutions.'
Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle, said, 'As one of the early movers to cloud in the non-bank sector, Resimac is clearly pioneering a path and we are proud to be their partner of choice in this change journey. The Finacle Digital Banking SaaS model will allow Resimac to achieve the necessary agility as well as provide enhanced functionality and security to its customers. We look forward to supporting Resimac with a proven, fast and risk-mitigated digital transformation, and help it set new benchmarks for customer experience and growth.'
Resimac Group Ltd ('Resimac') is a leading non-bank residential mortgage lender and multi-channel distribution business. It operates under a fully integrated business model comprising origination, servicing and funding prime and non-conforming residential mortgages in Australia and New Zealand. With over 250 people operating across Australia, New Zealand and the Philippines, Resimac has in excess of 50,000 customers with a portfolio of home loans on balance sheet of greater than $12 billion and assets under management of almost $15 billion.
Resimac is proud of its securitisation program. Resimac has issued in excess of $30 billion of mortgage-backed securities in domestic and global markets since 1987. The Group has access to a diversified funding platform with multiple warehouse lines provided by major banks for short term funding in addition to a global securitisation program to fund its assets longer term.
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking Solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.
To know more, visit www.finacle.com
Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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