Housing Bank to use Infosys’ Finacle in Algeria

Bengaluru: Indian software major Infosys on Tuesday announced that West Asia’s Housing Bank would use its Finacle product for operations in Algeria.

“The bank has chosen us to deploy our Finacle core banking, trade finance and internet banking solutions for its operations in Algeria,” said the city-based global software firm in a statement here.

The bank will also use Finacle’s Islamic solution for its Shariah banking product.

“The Housing Bank in Algeria is among the select banks in the Middle East-North Africa (MENA) region to adopt Finacle for delivering a digital banking experience to its customers,” said Infosys Global Head Sanat Rao in the statement.

The Finacle analytics solution will enable the bank to provide customised offerings to its customers, enhance operational efficiency, accelerate growth, manage scale and drive innovation, the statement said.

Building on the company’s similar partnerships in Jordan and Algeria, the banking and financial services software product will help the bank extend its offerings to its other regional entities for growth and profitability, it added.

“As a private bank in the Algerian market, we are looking to offer our customers with new products and services. We believe Finacle will support us in our mission and help us enhance customer’s experience,” said bank’s General Manager Houcine Hannachi in the statement.

The software product will help the bank eliminate manual processes, enhance productivity, reduce errors and ensure 24×7 availability.

Finacle will also enable the bank automate its processes and manage real-time data of its NPA (non-performing assets).

“The bank’s ATM operations will be online, overcoming risks and service limitations such as low withdrawal limits,” added the statement.