Infosys, a global leader in consulting, technology, outsourcing and next-generation services, announced that Hrvatska Postanska Banka (HPB), a leading state-owned financial institution in Croatia, has selected the Finacle Payments solution to deliver bespoke payment offerings and superior customer experience. The new solution will enable HPB to streamline its payments operations and simultaneously serve its target markets in a cost-effective and flexible manner.

The Finacle solution will also help HPB to comply with Single Euro Payments Area (SEPA) requirements and support Croatia’s harmonization process with European Union regulations and Payment Service Directive. 

Michael Reh, senior vice president and Global Head, Finacle, Infosys said, ''The global payments ecosystem is undergoing a sea change. New and nimble players with innovative business models, enabled by technology, are posing a threat to existing banks. At the same time, there is increasing regulatory oversight and numerous industry initiatives. In this environment, it is critical for banks to modernize their payment systems to gain agility and flexibility and keep pace with customer demands. Finacle is committed to helping HPB enhance its customer service, manage its operations with greater efficiency, and meet the required reporting and compliance obligations.''

Shares of the company declined Rs 4.15, or 0.41%, to trade at Rs 996.75. The total volume of shares traded was 105,185 at the BSE (3.50 p.m., Friday).