News : Albaraka Announces Successful Implementation of Finacle Banking Solutions
London & Rabat February, 2016 -- Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), announced that Albaraka, one of Morocco’s microfinance institutions (formerly known as FONDEP), has successfully implemented Finacle Core Banking, Customer Relationship Management (CRM), and Wealth Management solutions.
Albaraka replaced its existing core banking system with the Infosys Finacle solution to accelerate its plans to expand into retail banking and insurance products distribution. Infosys Finacle was selected for its advanced functionality, flexibility and local language capabilities. Product specialists from the Infosys Finacle Mauritius team played a pivotal role in the deployment, using their understanding of the requirements for developing a system for French-speaking territories of the financial services sector in North Africa.
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Mouatassim Belghazi, CEO, Albaraka said, "With Infosys Finacle, we are confident about reaching our objectives of operational efficiency and achieve our mission of contributing to social economic inclusion, as well as the financial inclusion of micro entrepreneurs who are excluded from usual financing routes."
Michael Reh, Executive Vice President and CEO (designate), EdgeVerve said, "The new technology platforms will enable the bank to extend its service offering and geographical scope as it seeks to bring banking services to more and more people."
Posted by: Laura Collins, Editorial Management
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Published: Tuesday, February 23, 2016
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