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ABN AMRO: Infosys implements Finacle solution for ABN AMRO’s customers

Infosys Finacle and Netherlands-based financial services firm ABN AMRO today announced the implementation and go-live of the Infosys Finacle Liquidity Management Solution for the bank’s corporate customers.

ABN AMRO will provide its customers a single point of access to better manage their global commercial cash flows securely from anywhere and on any device.

“With this implementation, the bank’s customers will see transformative improvements in target balancing, notional pooling, aggregated balance agreement, and IFRS accounting. This is an important part of the bank’s transformation strategy to better serve its digitally enabled corporate clients and enhance user experience,” according to Infosys’ exchange filing.

The solution will enable the bank to offer tailored liquidity products and the ability to introduce new product innovations for customers. The bank will now be able to introduce a cash pooling program to enhance its corporate channel offerings, the filing said.

“The right technology investment for corporate banking customers is of great importance to ABN AMRO as smarter cash management is evolving as a key priority for our customers, pushing the need for driving resilience in treasury operations,” said Xander van Heeringen, director of transaction banking at ABN AMRO.

Meanwhile, Infosys said in an exchange filing on Tuesday that it will announce its Q4 earnings on April 13, 2023.

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In Q3 FY23, Infosys reported a 20.2% year-on-year (YoY) rise in consolidated revenue to Rs 38,318 crore, while consolidated net profit for the quarter rose 13.4% on year to Rs 6,586 crore.Last week, Mohit Joshi resigned as president of Infosys after a 22-year stint at the country’s second-largest IT firm. Joshi’s resignation from Infosys is the second high-profile departure from the company following that of Ravi Kumar who resigned as its president in October.

The two senior-level exits from India’s second-largest software firm Infosys in the last six months have been flagged by analysts as a “short-term” risk to the company.

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