Feb 28: Infosys Finacle has entered into a partnership with Moneythor, a Singapore-based data-driven digital banking provider. The Moneythor platform, integrated with Finacle, will enable financial institutions deliver personalized recommendations and insights to customers on numerous digital channels and devices. Infosys Finacle is part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys.
With increasing demands from customers and businesses, many banks are struggling to provide contextual and proactive assistance across their digital channels. The new integrated solution will help banks to offer data-driven recommendations and smart Personal Financial Management (PFM) features within their existing online and mobile banking applications.
Moneythor is one of the companies that was recognized as part of the Finacle FinTech Connect, an initiative that builds on ongoing alliances and the Infosys Innovation Fund program to identify promising new FinTechs.
According to Infosys, the joint solution will offer an engine to classify, analyze and augment transaction data in order to generate better insights for the banks and their customers. Further, it will bring new interactive features and enriched transaction data, thereby enhancing customer engagement across digital channels.
The company has said that the solution can also be utilized by banks to publish tailor-made interactive content to assist customers with their money management needs, as well as providing contextual offers. Besides, rule-based capabilities and statistical algorithms will allow the solution to deliver data-driven personalized recommendations and insights with a quick time-to-market.
According to Sanat Rao, Chief Business Officer, Infosys Finacle, the FinTech Connect program helps us expand the innovation ecosystem and bring to the fore promising startups. Moneythor’s innovative offering will complement the Finacle suite of digital channel solutions, strengthening our value proposition and paving way for an improved digital banking experience for clients.”
Olivier Berthier, CEO, Moneythor, added that Moneythor is always on the lookout for partners to combine their domain expertise and solutions with Moneythor. Infosys Finacle offers such an opportunity and we are looking forward to a productive partnership.”