Infosys Technologies last week announced that they are planning to launch their core banking solution “Finacle” as a service (SaaS). However, such a service would be offered only along with the large deals.
Thats an interesting development. Because almost about a year back I had written a blog entry “BPM Series: SaaS, Shared Services, BPO – Will they converge?“, which discussed possible convergence of SaaS, Shared Services and BPO service offerings from vendors. I quote: “I expect SaaS to mature over a period of time and then convergence of SaaS and BPOs is simply inevitable. Already organizations such as IBM, and Infosys have both package applications as well as process outsourcing services to offer to the market. What would really stop Infosys to offer loan processing service deployed on their core banking solution – Finalce as SaaS. In India I know at least one bank, which have outsourced their complete IT set-up to Wipro. What would stop this bank from using software applications developed on Wipro’s Flow-brix as SaaS in combination with credit card payment collection services from Wipro’s outsourcing unit. Just think about it.“
I guess Infosys is taking first step in a direction where they may offer Financle based SaaS and BPO service in future.