Infosys Finacle Modernizes Chola's Treasury Operations

New Delhi, Mar 10 (PTI) Infosys Finacle on Monday announced the successful migration of Cholamandalam Investment and Finance Company's operations to the Finacle treasury solution.

According to a release, the move will centralise treasury management on a unified web-based platform for Chola. It, however, did not divulge the financial details of the contract.

Infosys Finacle is part of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys.

"This cloud-based transformation emphasises Chola's commitment to creating future-ready, digital-first treasury offerings that streamline treasury operations, enhance automation and effectively manage risks and compliance while ensuring financial prudence and stability," the release said.

With Finacle Treasury, Chola now has end-to-end coverage for operations across the entire treasury lifecycle, managing various liabilities and investment portfolios. This includes a diverse range of borrowing and funding sources.

The non-banking financial company has also streamlined its fund transfer process, allowing faster and more efficient management of loans, market borrowings, securitisation, and interest and tax adjustments.

Also, the company is enhancing operational effectiveness by automating interest processing, accounting for amendments, and payment processes.