Infosys' Finacle Core Banking Solution achieves new heights in processing banking transactions

Infosys' Finacle Core Banking Solution achieves new heights
Infosys Ltd, a global IT giant, on Wednesday said that its Finacle product has set a new global benchmark in processing banking transactions and the product will run on Oracle SuperCluster supported system.

Finacle Core Banking Solution's performance test has been audited & reviewed by Ernst & Young. It was tested on Oracle SuperCluster and Oracle SPARC T5 servers with Oracle solaris 11 and its result shows that it is capable to support over 1.9 billion bank accounts with near linear scalability, the company said in a statement.

Adding to it, the solution results in the processing of six time faster from the number of transactions being processed by the entire US banking system, the company said.

Further, company said that, over one billion term deposit accounts being processed for interest accruals in less than 87 minutes. Finacle database of over 49 terabytes have been used for testing which contains 205000 branches having more than a million branch users. The solution can handle a workload of average 97000 transactions per second. While, 41000 transactions being processed on over 79 million savings accounts for interest payment in only 32 minutes.

"Finacle can process six times the volume of transactions currently processed by the entire US Banking System and achieves Oracle SuperCluster Optimized status," the company said in a filing to the Bombay Stock Exchange.

Meanwhile, shares of the company ended the day at Rs 3253.10, down 1.16 per cent from previous close on BSE.

Read more about: infosys, finacle, cbs, ernst amp young
Story first published: Thursday, April 10, 2014, 12:46 [IST]
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