New Delhi: Finacle, the banking product unit of Infosys, is banking on financial inclusion and adoption of core banking solution (CBS) by regional rural banks (RRBs) as big growth driver to draw more revenues from domestic market.
”Rural banking and financial inclusion are big opportunity,” Haragopal M global head Finacle Infosys Technologies told PTI.
Financial inclusion is taking banking services to the rural and remote areas where branches are absent with the help of technology.
As many as 13 RRBs have finished implementing Finacle CBS solution for their operations.
As per the RBI guideline all the RRBs have to migrate to CBS by September 2011. Currently, there are 86 RRBs in the country.
Besides, core replacement opportunity and new innovation would add to the revenue, he said.