Mandates and payments roundup, October 25

BoA Merrill expands partnership with Earthport, while Infosys launches an upgraded version of its e-banking solution Finacle.

BoA Merrill extends mandate with Earthport

Global payment solutions and services provider, Earthport, will extend and enhance its cross-border payment services through Bank of America Merrill Lynch’s CashPro Online treasury management portal. The UK-based organisation has been using the solution since August this year and says that CashPro Online will provide its clients with additional reach into local payment networks in Asia-Pacific, Europe and Latin America.

“As a company we are dedicated to solving the challenges traditionally associated with cross border payments,” said Hank Uberoi, executive director at Earthport. According to Uberoi, by working with BoA Merrill, Earthport will be “extending our offering to deliver enhanced services to our clients, breaking down boundaries to growth, improving customer satisfaction and creating new revenue opportunities for our clients".

Infosys launches new solution

Consulting and technology solutions provider, Infosys, has launched its Finacle e-banking solution version 11. According to the firm, the new upgraded solution is a comprehensive offering that empowers banks to achieve quick global rollouts of online banking services.

“Online banking is expected to grow approximately 20% over the next two years and is a key focus area for banks as they strive to increase customer acquisition and convert more online sales opportunities,” said Haragopal Mangipudi, global head of Finacle at Infosys. “By using the powerful persona-driven analytics built in this new version of Finacle e-banking, banks can deepen their understanding of customers and provide them with offerings better tailored to suit their needs and help foster greater customer loyalty.”

Version 11 supports multi-lingual, multi-currency and multi-entity mapping allowing banks to roll out global product and marketing initiatives more quickly and cost effectively.

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