Latest news with #BankofSydney
Yahoo
23-07-2025
- Business
- Yahoo
India's Infosys narrows annual forecast helped by banking and financial unit strength
BENGALURU (Reuters) -India's Infosys narrowed its full-year forecast on Wednesday after reporting stronger-than-expected revenue for the first quarter, driven by growth in its financial services segment. The Bengaluru-based software services company narrowed its annual revenue growth forecast to 1%–3% from a prior range of flat to 3%- in line with analyst expectations for a lift in the lower end. Consolidated sales rose 7.5% year-on-year to 422.79 billion rupees ($4.89 billion) in the June quarter, while analysts, on average, expected revenue of 418.06 billion rupees, as per data compiled by LSEG. Revenue from Infosys' banking and financial services segment rose for the fifth consecutive quarter, helped by marquee deal wins including Bank of Sydney, Metro Bank, and U.K.-based AIB. Net profit rose 8.7% in three-month period to 69.21 billion rupees. Analyst had expected 67.55 billion rupees, as per data compiled by LSEG. Analysts have said that U.S. President Donald Trump easing some tariff restrictions, along with global interest rate cuts by central banks, could boost India's $283-billion IT industry, where the banking and financial services segment contributes about a third of total revenue. Net new bookings rose $3.8 billion during the quarter, compared with $2.6 billion in the previous quarter and $4.1 billion in the year-ago period. Infosys also retained its operating margin forecast at 20-22% for FY26. Earlier this month, bellwether Tata Consultancy Services missed revenue estimates and flagged delays in decision making and project starts. Smaller rivals and Tech Mahindra fared better than large caps on account of higher deal wins and better margin. Shares listed in Mumbai closed 0.8% higher ahead of the results. ($1 = 86.3880 Indian rupees) Sign in to access your portfolio
CNA
23-07-2025
- Business
- CNA
India's Infosys narrows annual forecast helped by banking and financial unit strength
BENGALURU :India's Infosys narrowed its full-year forecast on Wednesday after reporting stronger-than-expected revenue for the first quarter, driven by growth in its financial services segment. The Bengaluru-based software services company narrowed its annual revenue growth forecast to 1 per cent–3 per cent from a prior range of flat to 3 per cent- in line with analyst expectations for a lift in the lower end. Consolidated sales rose 7.5 per cent year-on-year to 422.79 billion rupees ($4.89 billion) in the June quarter, while analysts, on average, expected revenue of 418.06 billion rupees, as per data compiled by LSEG. Revenue from Infosys' banking and financial services segment rose for the fifth consecutive quarter, helped by marquee deal wins including Bank of Sydney, Metro Bank, and U.K.-based AIB. Net profit rose 8.7 per cent in three-month period to 69.21 billion rupees. Analyst had expected 67.55 billion rupees, as per data compiled by LSEG. Analysts have said that U.S. President Donald Trump easing some tariff restrictions, along with global interest rate cuts by central banks, could boost India's $283-billion IT industry, where the banking and financial services segment contributes about a third of total revenue. Net new bookings rose $3.8 billion during the quarter, compared with $2.6 billion in the previous quarter and $4.1 billion in the year-ago period. Infosys also retained its operating margin forecast at 20-22 per cent for FY26. Earlier this month, bellwether Tata Consultancy Services missed revenue estimates and flagged delays in decision making and project starts. Smaller rivals and Tech Mahindra fared better than large caps on account of higher deal wins and better margin. Shares listed in Mumbai closed 0.8 per cent higher ahead of the results.
Reuters
23-07-2025
- Business
- Reuters
India's Infosys narrows annual forecast helped by banking and financial unit strength
BENGALURU, July 23 (Reuters) - India's Infosys ( opens new tab narrowed its full-year forecast on Wednesday after reporting stronger-than-expected revenue for the first quarter, driven by growth in its financial services segment. The Bengaluru-based software services company narrowed its annual revenue growth forecast to 1%–3% from a prior range of flat to 3%- in line with analyst expectations for a lift in the lower end. Consolidated sales rose 7.5% year-on-year to 422.79 billion rupees ($4.89 billion) in the June quarter, while analysts, on average, expected revenue of 418.06 billion rupees, as per data compiled by LSEG. Revenue from Infosys' banking and financial services segment rose for the fifth consecutive quarter, helped by marquee deal wins including Bank of Sydney, Metro Bank, and U.K.-based AIB. Net profit rose 8.7% in three-month period to 69.21 billion rupees. Analyst had expected 67.55 billion rupees, as per data compiled by LSEG. Analysts have said that U.S. President Donald Trump easing some tariff restrictions, along with global interest rate cuts by central banks, could boost India's $283-billion IT industry, where the banking and financial services segment contributes about a third of total revenue. Net new bookings rose $3.8 billion during the quarter, compared with $2.6 billion in the previous quarter and $4.1 billion in the year-ago period. Infosys also retained its operating margin forecast at 20-22% for FY26. Earlier this month, bellwether Tata Consultancy Services ( opens new tab missed revenue estimates and flagged delays in decision making and project starts. Smaller rivals ( opens new tab and Tech Mahindra ( opens new tab fared better than large caps on account of higher deal wins and better margin. Shares listed in Mumbai closed 0.8% higher ahead of the results. ($1 = 86.3880 Indian rupees)
Finextra
21-05-2025
- Business
- Finextra
Bank of Sydney turns to Infosys Finacle for digital banking
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), and Bank of Sydney (BoS), today announced the bank's decision to select Infosys Finacle Digital Banking Suite to power its transformation. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Through this strategic collaboration, Bank of Sydney aims to deliver a best-in-class staff and customer experience, reduce cost and complexity through automation and digitization, and position itself strongly for future growth. BoS will access the Finacle solutions suite in Software-as-a-Services (SaaS) mode through AWS cloud, including the Finacle Core Banking Solution, Finacle Digital Engagement Hub, Finacle Online Banking, Finacle Mobile Banking, and Finacle Digital Onboarding solutions. Among other benefits, the next-gen Infosys Finacle Digital Banking Suite will also enable BoS to: Accelerate transformation with the Finacle Reference Bank – a preconfigured solution with Australia-ready products and processes. Enhance digital experience by delivering superior omni-channel self-service capabilities through mobile and online banking. Simplify the bank's IT landscape by retiring multiple applications, reducing technical debt and creating a more agile IT environment. Innovate at scale leveraging configuration-driven product and service innovation, while seamlessly integrating with the broader ecosystem through open APIs. Scale dynamically to support the business growth leveraging the AWS cloud-powered services. Melos Sulicich, Chief Executive Officer, Bank of Sydney, said, 'At Bank of Sydney, our strategic goal is to become the leading deposit bank in Australia and to drive significant business growth in the coming years. This requires adapting to rapidly changing customer needs, digital advancements, and regulatory requirements. Transforming our technology stack, centered around our core and digital banking platform, is crucial to meeting these objectives. With Infosys Finacle, we have a proven transformation partner and a next-generation banking platform to address the evolving needs of our business, customers, and regulatory ecosystem.' Jamie Simon, Director, Banking and Financial Services (A/NZ), AWS, said, 'AWS's collaboration with Infosys Finacle is a commitment to empowering banks with scalability, agility, and flexibility. By leveraging Finacle on AWS, Bank of Sydney is accelerating its digital transformation to enhance customer experiences, achieving faster time to market while optimizing costs. The deployment on AWS provides the bank with a highly secure, agile environment, enabling seamless scalability and integration of digital services. We are excited to support Bank of Sydney in this journey and help drive its continued growth and innovation.' Sajit Vijayakumar, Chief Business Officer, Infosys Finacle, said, 'We are thrilled to announce our collaboration with Bank of Sydney, marking a significant milestone in our expanding presence in Australia. This partnership underscores our commitment to providing flexible and affordable modernization solutions to Australian financial institutions. With Infosys Finacle's advanced cloud-native suite on AWS, Bank of Sydney will benefit from a modern, customer-centric digital banking platform, enabling better engagement, innovation, and operation. We look forward to supporting our customers in Australia and helping them thrive in the digital age.'
Business Standard
21-05-2025
- Business
- Business Standard
Bank of Sydney selects Infosys Finacle Digital Banking Suite on AWS cloud
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Bank of Sydney (BoS), today announced the bank's decision to select the Infosys Finacle Digital Banking Suite to power its transformation. Through this strategic collaboration, Bank of Sydney aims to deliver a best-in-class staff and customer experience, reduce cost and complexity through automation and digitization, and position itself strongly for future growth. BoS will access the Finacle solutions suite in Software-as-a-Services (SaaS) mode through AWS cloud, including the Finacle Core Banking Solution, Finacle Digital Engagement Hub, Finacle Online Banking, Finacle Mobile Banking, and Finacle Digital Onboarding solutions. Sajit Vijayakumar, Chief Business Officer and Global Head, Infosys Finacle, said, We are thrilled to announce our collaboration with Bank of Sydney, marking a significant milestone in our expanding presence in Australia. This partnership underscores our commitment to providing flexible and affordable modernization solutions to Australian financial institutions. With Infosys Finacle's advanced cloud-native suite on AWS, Bank of Sydney will benefit from a modern, customer-centric digital banking platform, enabling better engagement, innovation, and operation. We look forward to supporting our customers in Australia and helping them thrive in the digital age.
