Infosys Technologies Plans Unveiling Finacle As Service Offering

Bangalore: Infosys Technologies Ltd is evaluating options to unveil its universal banking software ''Finacle'' as a service offering, which should help the company expand its market reach further. The company is eyeing at both the Application Service Provider (ASP) model and also the Software As A Service (SaaS) platform for unveiling Finacle as a service offering. Typically, smaller banks, which are wishing to give up their unique way of functioning and differentiation, prefer to adopt a standardised model such as an ASP. However, in an emerging scenario, even large banks are willing to run some standardised applications such as regulatory compliance and mortgage origination among others from an ASP, without compromising on their differentiated service offerings.Traditionally vendors such as Infosys and i-flex Solutions have been charging royalty revenues on a per account basis from global clients for their banking software products. Financial Information Network and Operations Pvt Ltd (FINO) expects to target 300-400 million people who do not have access to basic financial services.