Infosys, a global leader in consulting, technology, outsourcing and next-generation services, today announced an extension to its partnership with Microsoft Corp. As part of this collaboration, the Finacle suite of solutions will be available on Microsoft Azure. This offering will allow banks to utilize Finacle’s award-winning solutions, along with the robust capabilities of Azure, enabling them to operate at lower costsand with greater agility.

Michael Reh, senior vice president and Global Head, Finacle, Infosys, said, ''The adoption of cloud in the banking sector has been relatively slow due to rising concerns about security, reliability and compliance. Banks are seeking opportunities to flexibly design their cloud deployment strategies so that they can cater to the increasing load of transactions from digital natives, while reducing technology management costs.  Finacle on Azure will offer significant flexibility to banks to design their cloud approach. With Azure running on a network of Microsoft-managed datacenters across 19 regions and Finacle’s experience of delivering solutions across 84 countries, banks across the globe can enjoy the benefits of this partnership.''

Shares of the company declined Rs 19.2, or 0.98%, to settle at  Rs 1,942.40.  The total volume of shares traded  was  349,956 at the BSE (Thursday).