Infosys finacle core banking solution
RCBC will also use this new solution to reach "the unbanked" - farmers, small business owners and other clients in provinces of the Philippines where ATMs and bank branches are difficult to operate. We are now positioned as the bank truly ready for tomorrow." “We are glad to have taken this important and necessary journey with technology professionals who held our hands during the entire process. “The transition to Finacle core banking on the IBM System z platform - while quite a significant project - was the smoothest and most seamless transformation I have participated in,” said Dennis Bancod, CIO, RCBC. With the potential to impact 3 million transactions month-on-month, the transformation was orchestrated with no disruption in services to RCBC clients. This core banking-led transformation entailed upgrading 96 application systems, reconfiguring over 400 branches and migrating 3.2 million customers. The bank is targeting to grow its cash card base by 4 million this year – doubling more than the 1.8 million users it on-boarded last year. The new solution will provide the foundation RCBC needs to create value-added services that will increase customer adoption for its MyWallet electronic cash card, one of its more popular products. The bank will leverage this intelligence to anticipate customer needs, create innovative offerings and enrich customer experience through increased personalization. RCBC selected Finacle running on an IBM System z server to consolidate data and applications from across disparate systems and establish a single source of customer information. From its current customer base of 3.6 million, the bank has set a goal of having 10 million new customers by 2014. RCBC, one of the leading private domestic commercial banks in the Philippines, has grown rapidly over the last five years. The bank expects the move to help position itself as a preferred bank for the future. Rizal Commercial Banking Corporation (RCBC) today announced that it has successfully implemented the Finacle™ core banking solution from Infosys on the IBM System z® server to transform its business and leverage new growth opportunities in an increasingly competitive consumer banking market.