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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Another North Goa nightclub sealed; Kejriwal says corruption led to fire tragedy
Panaji (PTI): As part of a crackdown against tourist establishments violating laws and safety norms in the aftermath of the Arpora fire tragedy, Goa authorities on Saturday sealed a renowned club at Vagator and revoked the fire department NOC of another club.
Cafe CO2 Goa, located on a cliff overlooking the Arabian Sea at Vagator beach in North Goa, was sealed. The move came two days after Goya Club, also in Vagator, was shut down for alleged violations of rules.
Elsewhere, campaigning for local body polls, AAP leader Arvind Kejriwal said the fire incident at Birch by Romeo Lane nightclub at Arpora, which claimed 25 lives on December 6, happened because the BJP government in the state was corrupt.
An inspection of Cafe CO2 Goa by a state government-appointed team revealed that the establishment, with a seating capacity of 250, did not possess a no-objection certificate (NOC) of the Fire and Emergency Services Department. The club, which sits atop Ozrant Cliff, also did not have structural stability, the team found.
The Fire and Emergency Services on Saturday also revoked the NOC issued to Diaz Pool Club and Bar at Anjuna as the fire extinguishers installed in the establishment were found to be inadequate, said divisional fire officer Shripad Gawas.
A notice was issued to Nitin Wadhwa, the partner of the club, he said in the order.
Campaigning at Chimbel village near Panaji in support of his party's Zilla Panchayat election candidate, Aam Aadmi Party leader Kejriwal said the nightclub fire at Arpora happened because of the "corruption of the Pramod Sawant-led state government."
"Why this fire incident happened? I read in the newspapers that the nightclub had no occupancy certificate, no building licence, no excise licence, no construction licence or trade licence. The entire club was illegal but still it was going on," he said.
"How could it go on? Couldn't Pramod Sawant or anyone else see it? I was told that hafta (bribe) was being paid," the former Delhi chief minister said.
A person can not work without bribing officials in the coastal state, Kejriwal said, alleging that officers, MLAs and even ministers are accepting bribes.
