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Qatar bank transacts on Infosys’ Finacle digital platform

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Bengaluru, Dec 20 (IANS) Using software major Infosys’ Finacle digital platform, Doha-based leading Qatar National Bank (QNB) is offering its customers multi-currency payment facility, said the IT major on Thursday.

“As part of its digital platform, QNB has scaled into a unified, multi-currency and multi-entity enabled enterprise payments hub in 31 countries across Africa, Asia and Europe,” said the city-based IT vendor in a statement here.

Finacle is a software product of EdgeVerve Systems, an arm of the $10-billion Infosys, deployed in the banking, financial services and insurance (BFSI) vertical.

The platform also enables the bank to make real-time payments for emergent business needs and respond quickly to emerging market trends.

“The hub has enabled the bank to consolidate local payment systems QIPS and QATCH in Qatar into a single platform,” said the statement.

Going forward, the bank’s foreign operations will be onboarded and integrated with the hub in phases.

The ISO 20022-based hub supports SWIFT MT (message types) formats and delivers interoperability across global and local payment networks. It also provides clearing services, comprehensive payment types and supports multiple payment instruments.

“With our Finacle, the bank is enabled with real-time processing capabilities, agnostic to originating channels,” noted the statement.

The bank has gained operational and cost efficiencies due to straight through processing of transactions. Efficient workflow management has enabled flexible payment processing and increased automation.

“Finacle has empowered the Qatari bank to offer customised, differentiated payment services to its corporate customers with relationship-based pricing, configurable access control and rule-based process flows,” said the statement.

According to the Global Sales Head of Finacle, Venkataramana Gosavi, the payments space is undergoing a major shift, with new industry initiatives, non-traditional competition and technology developments.

“Many institutions, with legacy applications and payment process siloes are finding it a challenge to sail through these shifts. With Finacle payments hub, QNB is able to navigate through the changes and drive payments innovation and operational excellence,” said Gosavi.

QNB group IT General Manager Adel Al Malki said in the digital space, the payments modernisation project based on the Infosys platform was aimed at giving business efficiency a boost, making the bank fit for a digital future.

“With this transformation, our aim is to ensure the bank is well equipped to manage change in the payments space and provide our customers reliability,” added Malki in the statement.

Set up in 1964 as Qatar’s first state-run commercial bank with its ownership split equally (50:50) between the Qatar Investment Authority and the public, QNB is the largest financial firm in the Gulf and Africa region.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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