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Finacle and Samsung SDS to Deliver 'Frictionless' Mobile Banking Experiences
Technology partners sign agreement to deliver enhanced payments and user experiences for mobile device users
SAN FRANCISCO and BANGALORE, India, April 28, 2016 /PRNewswire/ --
Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE:
INFY), and Samsung SDS, a global ICT service provider, today announced a global
partnership [https://youtu.be/cSRWXasA8-4 ] that will provide end customers with a more
secure, fast and convenient way to use mobile banking and payment services.
(Logo:
http://photos.prnewswire.com/prnh/20130122/589162 )
Mobility is a key innovation area for financial services, but it also plays a
fundamental part in enabling and retaining end customers in today's changing banking
environment. This partnership
[https://www.youtube.com/watch?v=cSRWXasA8-4&feature=youtu.be ] offers financial services
customers a seamless user experience and hassle-free access without lengthy authentication
processes.
This will be achieved using device agnostic Samsung SDS FIDO Authentication, allowing
banking and mobile payments customers to use select OEM's (Original Equipment
Manufacturers) and the hand-held device of their choice. Device-optimized authentication
for mobile payments helps banking services meet the user experience expectations of
younger millennial customers - an expectation of immediate, seamless app-driven services.
It will also help to advance and simplify micro payments and enable financial inclusion in
developing markets where mobile devices are the dominant form of internet access.
Samsung SDS FIDO is built on Fast IDentity Online (FIDO) specifications which is the
de facto standard for simpler and stronger authentication by using user's biometrics
information and PKI (Public Key Infrastructure) technology to store critical user
information in mobile and server respectively. Users can scan their fingerprint, use
facial recognition or other biometric authenticators such as voice and iris detection to
complete a payment or transaction in a secure and frictionless way. This can replace
traditional authentication methods such as the entry of a user ID, password or transaction
authentication number (TAN).
This partnership comes further to the recent announcement of a partnership between
Infosys Finacle and Onegini
[https://www.edgeverve.com/newsroom/press-releases/Pages/strengthen-digital-banking-offering.aspx ]
towards enabling secure mobile banking through advanced biometrics and
multi-factor authentication.
Quotes:Â
Andy Dey, President - Customer & Operations, EdgeVerveÂ
"Customers are becoming far more accustomed to accessing and spending their money via
mobile. As such, financial services providers should be empowered with mobile solutions
where they never have to choose between providing a good user experience and robust
security. We want to enable banking without passwords wherein people can authenticate
transactions by using flexible biometric options such as facial recognition and
fingerprints. Our partnership with Samsung SDS achieves exactly this kind of friction-less
banking, allowing greater customer retention, engagement and loyalty."
Ho Kim, Head - Advanced Mobile Solution Business, Samsung SDSÂ
"In addition to our recent deployment in the financial sector including Samsung Pay,
we are pleased to partner with EdgeVerve to provide our FIDO solution to global banking
customers. User authentication and mobile security is gaining more significance in this
era of digital banking and Samsung SDS' standard based biometrics solution ensures simpler
and secure user authentication to bring enhanced user experience to our customers. Samsung
SDS will continue its innovation to bring Samsung's technology into the future digital
banking."
About Samsung SDS
Samsung SDS is a global information and communication technology (ICT) service
provider, striving to help customers increase their competitiveness by offering optimal
ICT services. Its services are customized for customer business environments and leverage
the most knowledgeable professionals and proven, innovative technologies. Samsung SDS is
specialized in infrastructure construction, network services, business consulting,
manufacturing IT, distribution IT, education IT, medical IT, security, mobility, cloud,
and analytics based on its vast experience and accumulated technological capabilities.
For more information, visit http://www.samsungsds.com.
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a
wholly owned subsidiary of Infosys. The solution helps financial institutions develop
deeper connections with stakeholders, power continuous innovation and accelerate growth in
the digital world. Today, Finacle is the choice of banks across 84 countries and serves
over 547 million customers - nearly 16.5 percent of the world's adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments,
treasury, origination, liquidity management, Islamic banking, wealth management, and
analytics needs of financial institutions worldwide. Assessment of the top 1000 world
banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30
percent higher returns on capital, and 8.1 percent points lesser costs to income than
others.
To know more, visit http://www.finacle.com
About EdgeVerve Systems Ltd
EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software
products and offers them on-premise or as cloud-hosted business platforms. Our products
help businesses develop deeper connections with stakeholders, power continuous innovation
and accelerate growth in the digital world. We power our clients' growth in rapidly
evolving areas like banking, digital marketing, interactive commerce, distributive trade,
credit servicing, customer service and enterprise buying.Â
Today EdgeVerve products are used by global corporations across financial services,
insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our
universal banking solution, is the choice of financial institutions across 84 countries
and serves over 547 million customers - nearly 16.5 percent of the world's adult banked
population.
To know more, visit http://www.edgeverve.com
Safe HarborÂ
Certain statements in this press release concerning our future growth prospects are
forward-looking statements regarding our future business expectations intended to qualify
for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which
involve a number of risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks and uncertainties
relating to these statements include, but are not limited to, risks and uncertainties
regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to
manage growth, intense competition in IT services including those factors which may affect
our cost advantage, wage increases in India, our ability to attract and retain highly
skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, industry segment concentration, our
ability to manage our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks or system failures, our ability to
successfully complete and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which Infosys has made strategic
investments, withdrawal or expiration of governmental fiscal incentives, political
instability and regional conflicts, legal restrictions on raising capital or acquiring
companies outside India, and unauthorized use of our intellectual property and general
economic conditions affecting our industry. Additional risks that could affect our future
operating results are more fully described in our United States Securities and Exchange
Commission filings including our Annual Report on Form 20-F for the fiscal year ended
March 31, 2015. These filings are available at http://www.sec.gov
[http://www.sec.gov#_blank ].Infosys may, from time to time, make additional written and
oral forward-looking statements, including statements contained in the company's filings
with the Securities and Exchange Commission and our reports to shareholders. Any
forward-looking statements contained herein are based on assumptions that we believe to be
reasonable as of this date. The company does not undertake to update any forward-looking
statements that may be made from time to time by or on behalf of the company unless it is
required by law.
Photo:
http://photos.prnewswire.com/prnh/20130122/589162
Photo:http://photos.prnewswire.com/prnh/20130122/589162
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20130122/589162
http://photoarchive.ap.org/
Infosys Finacle
CONTACT: For further information, please contact: Infosys: Asia Pacific: Sarah Gideon, Infosys, India, +91-80-4156-3998, Sarah_Gideon@infosys.com. EMEA: Paul de Lara, Infosys, UK, +44-2075162748, Paul_deLara@infosys.com Americas, Pilar Wolfsteller Infosys, USA, +1-(510)-944-4596, Pilar.Wolfsteller@infosys.com
Finacle and Samsung SDS to Deliver 'Frictionless' Mobile Banking Experiences
Technology partners sign agreement to deliver enhanced payments and user experiences for mobile device users
SAN FRANCISCO and BANGALORE, India, April 28, 2016 /PRNewswire/ --
Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE:
INFY), and Samsung SDS, a global ICT service provider, today announced a global
partnership [https://youtu.be/cSRWXasA8-4 ] that will provide end customers with a more
secure, fast and convenient way to use mobile banking and payment services.
(Logo:
http://photos.prnewswire.com/prnh/20130122/589162 )
Mobility is a key innovation area for financial services, but it also plays a
fundamental part in enabling and retaining end customers in today's changing banking
environment. This partnership
[https://www.youtube.com/watch?v=cSRWXasA8-4&feature=youtu.be ] offers financial services
customers a seamless user experience and hassle-free access without lengthy authentication
processes.
This will be achieved using device agnostic Samsung SDS FIDO Authentication, allowing
banking and mobile payments customers to use select OEM's (Original Equipment
Manufacturers) and the hand-held device of their choice. Device-optimized authentication
for mobile payments helps banking services meet the user experience expectations of
younger millennial customers - an expectation of immediate, seamless app-driven services.
It will also help to advance and simplify micro payments and enable financial inclusion in
developing markets where mobile devices are the dominant form of internet access.
Samsung SDS FIDO is built on Fast IDentity Online (FIDO) specifications which is the
de facto standard for simpler and stronger authentication by using user's biometrics
information and PKI (Public Key Infrastructure) technology to store critical user
information in mobile and server respectively. Users can scan their fingerprint, use
facial recognition or other biometric authenticators such as voice and iris detection to
complete a payment or transaction in a secure and frictionless way. This can replace
traditional authentication methods such as the entry of a user ID, password or transaction
authentication number (TAN).
This partnership comes further to the recent announcement of a partnership between
Infosys Finacle and Onegini
[https://www.edgeverve.com/newsroom/press-releases/Pages/strengthen-digital-banking-offering.aspx ]
towards enabling secure mobile banking through advanced biometrics and
multi-factor authentication.
Quotes:Â
Andy Dey, President - Customer & Operations, EdgeVerveÂ
"Customers are becoming far more accustomed to accessing and spending their money via
mobile. As such, financial services providers should be empowered with mobile solutions
where they never have to choose between providing a good user experience and robust
security. We want to enable banking without passwords wherein people can authenticate
transactions by using flexible biometric options such as facial recognition and
fingerprints. Our partnership with Samsung SDS achieves exactly this kind of friction-less
banking, allowing greater customer retention, engagement and loyalty."
Ho Kim, Head - Advanced Mobile Solution Business, Samsung SDSÂ
"In addition to our recent deployment in the financial sector including Samsung Pay,
we are pleased to partner with EdgeVerve to provide our FIDO solution to global banking
customers. User authentication and mobile security is gaining more significance in this
era of digital banking and Samsung SDS' standard based biometrics solution ensures simpler
and secure user authentication to bring enhanced user experience to our customers. Samsung
SDS will continue its innovation to bring Samsung's technology into the future digital
banking."
About Samsung SDS
Samsung SDS is a global information and communication technology (ICT) service
provider, striving to help customers increase their competitiveness by offering optimal
ICT services. Its services are customized for customer business environments and leverage
the most knowledgeable professionals and proven, innovative technologies. Samsung SDS is
specialized in infrastructure construction, network services, business consulting,
manufacturing IT, distribution IT, education IT, medical IT, security, mobility, cloud,
and analytics based on its vast experience and accumulated technological capabilities.
For more information, visit http://www.samsungsds.com.
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a
wholly owned subsidiary of Infosys. The solution helps financial institutions develop
deeper connections with stakeholders, power continuous innovation and accelerate growth in
the digital world. Today, Finacle is the choice of banks across 84 countries and serves
over 547 million customers - nearly 16.5 percent of the world's adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments,
treasury, origination, liquidity management, Islamic banking, wealth management, and
analytics needs of financial institutions worldwide. Assessment of the top 1000 world
banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30
percent higher returns on capital, and 8.1 percent points lesser costs to income than
others.
To know more, visit http://www.finacle.com
About EdgeVerve Systems Ltd
EdgeVerve Systems, a wholly owned subsidiary of Infosys, develops innovative software
products and offers them on-premise or as cloud-hosted business platforms. Our products
help businesses develop deeper connections with stakeholders, power continuous innovation
and accelerate growth in the digital world. We power our clients' growth in rapidly
evolving areas like banking, digital marketing, interactive commerce, distributive trade,
credit servicing, customer service and enterprise buying.Â
Today EdgeVerve products are used by global corporations across financial services,
insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our
universal banking solution, is the choice of financial institutions across 84 countries
and serves over 547 million customers - nearly 16.5 percent of the world's adult banked
population.
To know more, visit http://www.edgeverve.com
Safe HarborÂ
Certain statements in this press release concerning our future growth prospects are
forward-looking statements regarding our future business expectations intended to qualify
for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which
involve a number of risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks and uncertainties
relating to these statements include, but are not limited to, risks and uncertainties
regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to
manage growth, intense competition in IT services including those factors which may affect
our cost advantage, wage increases in India, our ability to attract and retain highly
skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, industry segment concentration, our
ability to manage our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks or system failures, our ability to
successfully complete and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which Infosys has made strategic
investments, withdrawal or expiration of governmental fiscal incentives, political
instability and regional conflicts, legal restrictions on raising capital or acquiring
companies outside India, and unauthorized use of our intellectual property and general
economic conditions affecting our industry. Additional risks that could affect our future
operating results are more fully described in our United States Securities and Exchange
Commission filings including our Annual Report on Form 20-F for the fiscal year ended
March 31, 2015. These filings are available at http://www.sec.gov
[http://www.sec.gov#_blank ].Infosys may, from time to time, make additional written and
oral forward-looking statements, including statements contained in the company's filings
with the Securities and Exchange Commission and our reports to shareholders. Any
forward-looking statements contained herein are based on assumptions that we believe to be
reasonable as of this date. The company does not undertake to update any forward-looking
statements that may be made from time to time by or on behalf of the company unless it is
required by law.
Photo:
http://photos.prnewswire.com/prnh/20130122/589162
Photo:http://photos.prnewswire.com/prnh/20130122/589162
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20130122/589162
http://photoarchive.ap.org/
Infosys Finacle
CONTACT: For further information, please contact: Infosys: Asia Pacific: Sarah Gideon, Infosys, India, +91-80-4156-3998, Sarah_Gideon@infosys.com. EMEA: Paul de Lara, Infosys, UK, +44-2075162748, Paul_deLara@infosys.com Americas, Pilar Wolfsteller Infosys, USA, +1-(510)-944-4596, Pilar.Wolfsteller@infosys.com