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Infosys shares edged higher in the morning trade on Wednesday after Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys announced on Tuesday, that Fidelity Bank Plc, Nigeria, one of the fastest growing Commercial Banks in Africa, will migrate its core banking platform from Finacle version 7 to Finacle version 10. Infosys made announcement after market hours on Tuesday.

At 11.02 am, the share price of the company was trading 0.61 per cent higher at Rs 1,170.95. It opened at Rs 1,166 and had touched a high and low of Rs 1,175.85 and Rs 1,163.80, respectively, in trade so far. The BSE Sensex was 98 points at 27,921.93.

In a BSE filing, the company said, “The migration, which is part of the bank’s transformation initiative, will enhance its operational efficiency, strengthen innovation capabilities and support scalable growth. Finacle version 10 will enable the bank to implement services such as SME banking, management information system reporting, application monitoring, and disaster recovery automation.”

The multi-country migration to Finacle version 10 will enable the bank to operate 24/7 across channels and currencies. It will help the bank with in-depth customer analytics, right-sell opportunities, and personalized offerings. The deployment will also create new business opportunities through offerings such as liquidity management, top-up deposit, flexi-fixed deposit, enhanced channel transaction controls, rebates and clawbacks, bill payments, securitization, top-up loan, and subsidy.