Bank of America embarks on corporate banking tech modernisation
EXCLUSIVE. Bank of America (BofA) is understood to have selected Infosys and its Finacle suite of products for its corporate banking technology modernisation project in the US and globally.
Exclusive news!
This large-scale deal is believed to be worth around $600 million.
It is understood that Oracle FSS also bid for the deal with its Flexcube offering.
FinTech Futures contacted BofA, Infosys and Oracle, but they all provided a “no comment” on the above.
In H2 2017, another US-based bank, Bank of the West, opted for Finacle for its corporate banking, digital banking, and payments hub.
Elsewhere in the US, Discover Financial Services, Marcus (a digital lending platform from Goldman Sachs) and Eastern Bank are also on the Finacle user list.
