Bank of Sydney to upgrade digital systems with Infosys Finacle on AWS

Australia-based Bank of Sydney will adopt the Infosys Finacle Digital Banking Suite, hosted on Amazon Web Services (AWS), to modernise its banking operations and improve services for customers and staff.

The bank will use the digital suite in a Software-as-a-Service (SaaS) model, covering core banking, mobile and online services, customer onboarding, and digital engagement tools.

Bank of Sydney aims to reduce operational complexity and enhance its technology by replacing older systems with the new platform. The move is also expected to help the bank keep pace with changing customer expectations and regulatory requirements.

Melos Sulicich, CEO of Bank of Sydney, said that the upgrade is a key part of the bank’s plan to grow its business and improve customer experience. “Transforming our technology stack, centred around our core and digital banking platform, is crucial to meeting our strategic goals,” he said.

The new system will allow the bank to offer better mobile and online services, simplify IT operations by reducing the number of separate applications in use, and improve its ability to introduce new products. With AWS cloud services, the bank will also gain flexibility to scale operations as needed.

Sajit Vijayakumar, Chief Business Officer at Infosys Finacle, said that the partnership is part of the company’s broader efforts to support banks in Australia. “With Finacle’s cloud-native platform, Bank of Sydney will be better equipped for digital engagement and innovation,” he said.

In a related development, Infosys Finacle recently upgraded the treasury operations of Cholamandalam Investment and Finance Company (Chola). The project helped Chola move to a centralised, web-based platform for managing its finances.

The new system enables Chola to handle a wide range of financial operations, including market borrowings and investment portfolios, more efficiently. Automation has also reduced processing times, particularly for tasks such as interest payments and tax adjustments.