QNB Strengthens its Payments Business with Enterprise Payments Hub from Infosys Finacle

Deepthi | Myequity news | Date : 20-12-2018 16:30:00 IST

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and QNB, the largest financial institution in the Middle East and Africa, announced the successful implementation of the Finacle Payments Hub as part of the bank’s digital transformation strategy. QNB, which operates across more than 31 countries in Africa, Asia and Europe, is consolidating its multiple payment engines and has replaced them with the unified, multi-currency and multi- entity enabled enterprise payments hub from Finacle. With this, QNB has gained a real-time payments platform, with proven scalability to meet emergent business needs and agility to respond swiftly to emerging market trends.

Adel Al Malki, General Manager – QNB Group Information Technology, said, “In the digital disruption that is impacting banking, the payments space is probably the most dynamic and fast paced. Our payments modernization project based on the Infosys Finacle Payments Hub is aimed at not just giving our business efficiency a boost, but making QNB fit for a truly digital future. With this transformation, our aim is to ensure

QNB is better equipped to manage change in the payments space and provide our customers a greater degree of reliability, thereby cementing our position as a leading financial powerhouse in the Middle East.”

Venkatramana Gosavi, SVP & Global Head of Sales, Infosys Finacle,
said, “The payments space is undergoing a massive shift globally, with new industry initiatives, non-traditional competition, and technology developments. Many institutions, with their legacy applications and payment process siloes, are finding it a challenge to effectively sail through these shifts. With the Finacle Payments Hub, QNB has established a strong foundation to navigate through these changes and drive payments innovation and operational excellence.”

About QNB Group

Qatar National Bank (Q.P.S.C.) (QNB Group) was established in 1964 as the country’s first Qatari-owned commercial bank, with an ownership structure split between the Qatar Investment Authority (50%) and the remaining (50%) held by members of the public.

About Infosys Finacle

Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

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