Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY), announced on Wednesday it has formed a partnership with Ayeyarwaddy Farmers Development Bank, widely known as A Bank, a commercial bank in Myanmar, to adopt the Finacle solution suite to power the bank’s digital transformation. The duo reported that with Finacle, the bank aims to drive growth and innovation through “state-of-the-art” banking services and an enriched product portfolio.
While sharing details about the partnership, U Ye Myat Soe, Managing Director, A Bank Ltd., stated:
“At A bank, we are committed to delivering innovative products and services to our customers, and maintaining a high level of service quality and convenience. We recognize today’s challenges and opportunities, and our collaboration with a leading technology expert like Infosys Finacle is essential for us to stay ahead of the curve in Myanmar. We selected Infosys Finacle for their strong solution credentials, proven track record and experience of working with leading financial institutions across the world. We believe that the adoption of the Finacle suite of solutions will support us in delivering a world-class banking experience to our customers.”
Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle, also commented:
“The banking industry in Myanmar is witnessing rapid growth with the economy opening up. Banks are showing a strong appetite for expansion and at this stage, a modern banking technology platform is critical to help Myanmar banks drive growth. We are delighted that A Bank has chosen Infosys Finacle to power its digital transformation. With the Finacle suite of solutions, A Bank will be able to integrate various channels, effortlessly develop and launch new offerings, create new lines of revenue, and work with greater efficiencies, which is in-line with the bank’s long-term growth.”
Mr. Zaw Moe Thant, Chief Executive Officer, ACE Data Systems Ltd., added:
“We are delighted to partner with Infosys Finacle and are strongly committed to ensuring that A bank attains its business objectives of growth and business agility. We will continue to invest and innovate to drive efficiencies for our technology partners and clients in the region.”
