Philippine-based Producers Savings Bank Corporation has committed to a major technology infrastructure upgrade.

As part of this modernisation, the bank is adopting the latest version of the Finacle Core Banking Solution from Infosys Finacle.

The thrift bank is looking to significantly expand its retail and small and medium enterprise (SME) lending operations. To support this continuous growth, it is also deploying the Finacle Origination Solution.

The systems upgrade is intended to improve operational resilience and provide faster, more personalised services to customers.

By utilising the new origination software, Producers Bank aims to scale its lending to priority groups, such as teachers and SMEs, through a fully digital platform.

This shift brings automated customer onboarding and faster loan processing times.

Furthermore, the updated platform includes an application programming interface (API) suite designed to help the bank connect with external financial technology services, which could support broader financial inclusion efforts for underbanked communities.

Andres M. Cornejo, Vice-Chairman and Chief Executive Officer of Producers Bank, noted that the institution is celebrating its 30th anniversary alongside a decade-long relationship with Infosys Finacle.

“This modernisation initiative will further strengthen our digital capabilities, enabling us to provide real-time banking services for our growing client base and scale our lending business with greater confidence,” Cornejo stated.

Sajit Vijayakumar, Chief Executive Officer of Infosys Finacle, observed that the Philippine banking sector’s ongoing digital transition presents new opportunities for the lending market.

He added that the updated technology foundation positions Producers Bank to accelerate its expansion and strengthen its role in the country’s financial ecosystem.

Featured image: Edited by Fintech News Philippines based on an image by Producers Bank via Facebook.