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Infosys to re-engineer Finacle, revamp compensation structure

A team reported to be studying financial database Blockchain to see if it can be integrated with the core banking solution

BS Reporter  |  New Delhi 

With an eye on regaining industry-level growth rates and to retain top talent, is sprucing up the capabilities of its core banking software and revamping the compensation structure of its sales team, according to media reports. 

According to a report in HT Mint, the Bengaluru-headquartered information technology services provider is assessing the merits of Blockchain, an open-source financial database that records all transactions of virtual currency Bitcoin, to see if the technology could be integrated into  

The move comes at a time when many people are looking at more convenient ways to do banking, such as mobile banking and making transactions using digital currencies like and Ripple. 

Michael Reh, assigned to revive the fortunes of Finacle, is reported to be assessing Blockchain. Former SAP Labs vice-president (strategy), Sheenam Ohrie, hired by as the new head of delivery, testing and support of Finacle, and Fuat Bozkurt, formerly with Sopra Banking Software; and Manju H C, earlier with Swiss firm Temenos as banking solutions lead, are assisting Reh.

does not disclose revenue generated from its core banking product. The 6,000-people-strong unit is estimated to be a $300-million business that generates 90 per cent of its revenues from Asia-Pacific, Europe and West Asia. 

New Compensation Structure

is also considering revamping its compensation structure for its sales force, according a report in The Economic Times. This is for rewarding top performers in proportion to their achievements. The new incentive structure, according to the report, will give credit to the incremental revenue — additional revenue generated during a given period — instead of the overall growth of the company. 

At present, sales people are treated as a team, and the variable payout is linked to Infosys’ overall performance. 

This new compensation structure is believed to kick in from the current financial year.

First Published: Mon, April 13 2015. 13:42 IST
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