Australian bank goes digital with Infosys cloud software
Bengaluru, Sep 25 : Software major Infosys said on Tuesday that Australian Military Bank (AMB) in Sydney went live digitally on the Finacle cloud platform of its subsidiary EdgeVerve Systems.
"Our Finacle cloud software has enabled AMB offer world class banking experience on digital platform, implemented on the software as a service (Saas) model in 10 months," said the city-based IT firm in a statement here.
As Australia's longest serving defence financial institution, AMB has been serving its defence personnel and their families since 1959.
"Our financial software product (Finacle) has enabled the bank gain operational benefits and cost efficiencies besides enhanced security and scalability," said the statement.
The Finacle solution has replaced the bank's legacy systems to keep pace with new technology developments and allow a speedy response to market demands.
"The solution also enables open application programming interfaces (APIs) that overcome limitations for the bank's ability to work with ecosystem partners," noted the statement.
The bank has been processing about 40,000 mixed transactions per day, with 22,000 card transactions and nearly 7,000 composite payments transactions on average per day on the digital platform.
The system has helped the bank make the origination process simpler and drive the creation of a pipeline of 61 million Australian dollar worth of loans during the first month of using the new software.
"The bank is able to onboard new members and open accounts, complete with transactions enabled, within minutes," added the statement.
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Sena (UBT)-MNS alliance announcement for civic polls likely next week
Mumbai (PTI): The Shiv Sena (UBT) and the Maharashtra Navnirman Sena (MNS) are likely to announce next week their alliance for the upcoming municipal corporation elections in Maharashtra, with seat-sharing for all the civic bodies, except Mumbai, almost complete, leaders of both the parties said.
Elections to 29 municipal corporations in Maharashtra, including the all-important Brihanmumbai Municipal Corporation (BMC), will be held on January 15, and the counting of votes will take place the next day.
The Shiv Sena (UBT) and the MNS will forge an alliance for the polls in municipal corporations of Mumbai, Thane, Mira-Bhayandar, Kalyan-Dombivli, Pimpri-Chinchwad, Pune and Nashik, among others.
The Sena (UBT) is headed by former chief minister Uddhav Thackeray, while his once-estranged cousin Raj is the president of the MNS.
"Talks for all civic bodies, except Mumbai, are complete. The sticking point is about the seats that we are demanding in Marathi-dominated areas. The Shiv Sena (UBT) is not still not agreeing to it which has delayed the seat-sharing. But the talks have to be over soon since the date of filing nominations starts next week (December 23 to December 30)," an MNS leader said.
Talking to reporters, MNS leader and former MLA Nitin Sardesai said, "It is appropriate to say that the talks are in final stages but it is difficult to say when it will be officially announced. I can only say that all sides are putting efforts to complete the talks and they are working towards it."
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Shiv Sena (UBT) leader Anil Parab met Raj Thackeray to discuss seat-sharing.
A Sena (UBT) leader said talks are in final stages and there is no hurdle in the seat-sharing agreement.
"The two brothers are expected to officially announce the alliance between the two parties on Monday in a public event or through a press conference that will set the tone for the civic body polls," he said.
Raj Thackeray quit the undivided Shiv Sena blaming Uddhav for his exit in 2005 and floated the MNS in 2006. They had been political rivals since then.
However, after the drubbing of their parties in the Maharashtra assembly polls in 2024 - the Sena (UBT) won 20 seats, while MNS drew a blank - both leaders decided to put behind their political acrimony and find a common ground for survival.
Over the past few months, the two cousins shared the stage or were spotted at public forums together multiple times for various reasons.
The cousins publicly ended their two-decade-long estrangement in July, where they addressed a joint rally. At the event, Uddhav said they have come together to stay together.
