Infosys considering bitcoin technology to revamp Finacle

Infosys, a software firm based out of India, is considering the use of blockchain technology to improve its extensively used Finacle banking software.

The software is used by several banks world over. The company's senior management is reportedly giving more attention on its mobile banking offerings, but Michael Reh, who has been given the responsibility to revamp the software, is assessing the usefulness of the blockchain.

"The thing with this (Blockchain) is that we still do not know the full technology impact it can have. More than just knowing the payments, we can get insights in legal documents, or use for even credit-worthiness of parties. All this obviously makes your (core banking) product stand out", an executive said.