Finacle from Infosys recently unveiled its standalone Islamic Banking Solution, which addresses the complexities of Shariah compliant banking in today's environment by offering banks greater flexibility and quicker innovation. Finacle Islamic Banking Solution is powered by the BPEL and BPML compliant workflow engine. This, coupled with high parameterization capabilities, results in greater process efficiency, better risk mitigation, significantly lowered TCO and supports rapid roll out of Shariah-compliant products.

The Islamic banking industry is being redefined and reinvented as banks, the world over, respond to the opportunities presented by this rapidly growing new customer segment. Besides traditional markets such as Middle East, Indonesia and Malaysia, Islamic Banking is seeing growth in markets such as United Kingdom, Singapore, and many global conventional banks have started offering Islamic Banking.

Read the complete announcement in Equity Bulls.