Banking solutions provider Infosys Finacle on Thursday said government's decision to merge several public sector banks is a positive development and will t versely impact its business.

Infosys Finacle supports merger

company, which has implemented its digital banking suite on cloud solution for Shivalik Mercantile Co-operative Bank Ltd, said it is also witnessing strong client wins internationally from markets like US and Australia.

"Impact is positive. Last year, government h merged Bank of Baroda with Dena and Vijaya, platform is ours," Infosys Finacle Senior Vice President and Global He of Sales Venkatramana Gosavi said.

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When asked if re could be a loss of business on account of se developments, he answered in negative. Speaking at an event, he said re could be challenges on tech front, among or areas, for se banks may be operating on different banking software and versions. In biggest consolidation exercise in banking , government in August h anunced four major mergers of public sector banks, bringing down ir total number to 12 from 19. Gosavi said Infosys Finacle has a dominant market share in India and is steily expanding its presence in international markets as well.

"Our early success has been in our home market as expected from a product company. In last 10-12 months, we have h big wins in US, in UK and Australia...revenues are w secular in nature. At one point in time, this part of world (India) was contributing largely (to revenues) but w that is changing which is in line with our aspiration for growing," he said.

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Infosys Finacle on partnership with Shivalik

Currently, banks in over 100 countries use Finacle to cater to more than a billion consumers and 1.3 billion accounts. Talking about partnership with Shivalik Mercantile Co-operative Bank Ltd, Gosavi said deployment of Finacle Digital Banking Suite on cloud will provide bank with agility to scale operations in a cost-effective manner. two parties started working toger about a year back and about three lakh customers of Bank have migrated to Finacle platform.

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Working with end-to-end mand services, bank shifted its banking platform from a capital expense model to an operational expense model, ensuring that bank only pays for what it uses without significant upfront investments.

"Without techlogy modernization, cooperative banks face a persistent threat to ir continuity, with big banks, fintechs and n-banking players investing to continuously expand ir customer base," Shivalik Bank MD and CEO Suveer Kumar Gupta said.

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He ded that cloud-based solution will help bank expand business, while giving customers a world-class experience. Gupta said bank, which has 31 branches in Uttar Presh and Mhya Presh, has received approval to expand into Delhi and Uttarakhand.