Infosys Finacle bags digital transformation deal from Philippines bank

Infosys’s banking platform arm, Infosys Finacle, has secured a mandate from Producers Savings Bank Corporation, a rural and thrift bank in the Philippines, to upgrade its core banking systems, in a move that underscores the IT major’s continued traction in overseas financial services deals.

The Philippines-based lender will migrate to the latest version of Finacle’s core banking suite and deploy its origination platform to scale lending across small and medium enterprises (SMEs) and retail segments. The engagement is aimed at strengthening the bank’s digital infrastructure, improving resilience, and enabling faster rollout of personalised financial services.

The deal also includes deployment of a digital loan management platform with automated onboarding and faster processing, alongside a comprehensive API layer to integrate with fintech ecosystems—key to expanding services for underbanked and unbanked customers.

The win comes amid a steady run of international deal momentum for Infosys, particularly in financial services. Over the past year, the company has expanded engagements with global banks and enterprises, including large transformation and cloud-led deals across North America and Europe. Infosys has also been investing in AI-led platforms and industry-specific solutions to deepen its presence in core banking modernisation and digital transformation programs worldwide.

Executives said the Philippines engagement builds on a decade-long relationship and positions the bank to scale real-time banking and lending capabilities as the country’s financial sector accelerates digitisation.

Infosys has been sharpening its focus on platform-led growth through subsidiaries such as EdgeVerve Systems, which houses Finacle, even as global banks increase technology spending to modernise legacy systems and improve customer experience.

The deal further comes amid a broader surge in global banking technology spends, with Indian IT peers such as Tata Consultancy Services, Wipro, and HCLTech also securing similar core modernisation and digital transformation mandates across Europe, the Middle East and Asia-Pacific, as financial institutions accelerate upgrades to legacy systems, adopt cloud and API-led architectures, and scale digital lending and customer engagement platforms.

The latest deal reflects sustained demand for core banking upgrades and digital lending solutions, particularly in emerging markets where financial inclusion and digital adoption are driving IT investments.