Mediterranean Bank selects new lending platform
Written by Anthony Strzalek
Mediterranean Bank, one of the largest financial institutions in Malta, has gone live with a new lending platform from Infosys Finacle.
The bank has replaced its existing lending solution with Finacle to provide a more unified, consistent platform for its corporate customers.
The Finacle Lending Module will provide the bank with a flexible solution that has the ability to offer various types of loans to meet customer requirements faster and at a lower cost, in an effort to enhance revenues.
The Lending Module is a new addition to Mediterranean Bank’s existing suite of Finacle applications, which includes Finacle Core Banking, Treasury and Corporate Online Banking.
The bank is leveraging Finacle to manage the entire loan-servicing lifecycle. The solution is helping the bank have a real-time view of its customers’ loan positions and manage the risk effectively. Additionally, Finacle’s open architecture will enable Mediterranean Bank to drive extensive automation across the lending process.
Charles Cini, head of corporate banking at Mediterranean Bank, said: “The new Infosys Finacle Lending Module will allow us to provide the highest quality service to our corporate customers, whilst driving operational efficiency with a modern platform. We look forward to improving our risk management capabilities and simplifying and extending our business lines for our customers’ benefit.”
Sanat Rao, chief business officer and global head at Infosys Finacle, added: “The Finacle Lending Solution provides banks the agility and the scalability to respond to shifting customer needs and market requirements in the burgeoning digital era. Replacing its legacy lending system with a modern offering like the Finacle Lending Solution will not only present Mediterranean Bank with new business opportunities, but also enable the bank to provide a rich, modern banking experience to its customers.”