Australian bank goes digital with Infosys cloud software

Vartha Bharati | 25-09-2018 | 15:07:00 IST

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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US–Iran first round direct talks conclude in Islamabad: Report

12-04-2026 ¦ 12-04-2026 IST

The first round of direct talks between the United States and Iran, held in Islamabad, has concluded, Al Jazeera reported citing sources close to the development.

According to the report, following the discussions, delegations from both sides agreed to exchange written documents, a move aimed at ensuring clarity and consensus on the understandings reached during the meeting.

Both the Iranian and US delegations arrived in Islamabad on Saturday, April 11, amid high security for the peace talks.