Infosys Finacle and ABN AMRO have said that the liquidity management system for the bank’s corporate clients will be set up and go live. Through the system’s single point of access, customers can manage their international financial flows in a safe way from anywhere and on any device. Customers of ABN AMRO will benefit from improvements in target balancing, notional pooling, aggregated balance agreements, and IFRS accounting, according to Infosys’ exchange filing. This implementation is a part of the bank’s transformation strategy to improve the user experience and better serve its corporate clients who have access to digital technology.
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The bank will be able to offer customers customized liquidity products and new product developments thanks to technology. Additionally, it will make it possible to implement a cash pooling programme to enhance the bank’s corporate channel offers. According to Xander van Heeringen, director of transaction banking at ABN AMRO. Smarter cash management is becoming a top priority for customers, driving the need for treasury operations to be more resilient. He also emphasized the value of technology investment for corporate banking customers.
Infosys also said in a exchange filing that its Q4 financial results would be made public on April 13, 2023. In the third quarter of FY23. Infosys reported an increase in consolidated revenue of 20.2% year over year to Rs 38,318 crore. An increase in consolidated net profit of 13.4% year over year to Rs 6,586 crore. But after Ravi Kumar quit as president in October. Mohit Joshi, who had been in charge of Infosys for 22 years, also quit last week. These two senior-level departures from Infosys have been labelled as a “short-term” threat to the company by analysts.
