Federal Bank signs on Infosys to implement cloud-based CRM

Federal Bank signs on Infosys to implement cloud-based CRM
Photo Credit: 123RF.com
11 Jun, 2021

Expanding its digital transformation efforts, Federal Bank has signed up information technology (IT) services major Infosys to implement a cloud-based customer relationship management (CRM) system.

Under the agreement, a statement said, the Bengaluru-headquartered firm has to create an integrated CRM using the Oracle CX (customer experience) platform.

The solution would work cross marketing, sales, customer service, and social listening divisions, strengthening the bank’s operations and enabling it to offer data-driven intelligent customer experiences.

“Our mantra is ‘Digital at the fore, human at the core’ and the implementation of the next generation CRM solution, in partnership with Oracle and Infosys, is a significant step we are taking in that direction,” Shalini Warrier, Executive Director & Business Head – Retail at Federal Bank, said.

“Our expanded partnership with Oracle and Infosys will allow us to offer a more strategic, integrated platform with industry aligned solutions that will result in richer experiences for our customers,” Warrier added.

Once the CRM is implemented, Federal Bank will have a single application to offer a 360-degree view of customers’ portfolio. This would offer financial, biographical, and demographical information and significantly boost the bank’s productivity.

“By combining the power of Oracle CX platform and Infosys Cobalt set of cloud offerings, we look forward to enabling the bank to deploy new products swiftly while creating an improved digital experience for customers,” Dinesh Rao, executive VP and global head for enterprise application services at Infosys, said while commenting on the engagement.

Infosys’ partnership with Federal Bank comes shortly after its digital transformation deals with energy infrastructure company Archrock, New Jersey based cloud insurance software provider Majesco, and British soft drinks company Britvic.

In the fourth quarter ending March 31, 2021, the company reported a record total contract value (TCV) of $2.1 billion. The TCV for the entire fiscal stood at $14.1 billion. Of this, $9.4 billion was contributed by new deals.