Infosys Technologies has started offering Indian cooperative banks a cloud version of its core banking product Finacle, dabbling into what some experts said is a R2,000 crore market. Core banking on the cloud � an on-demand paradigm where the software product is consumed from the Internet rather than on-premise, could save a cooperative bank about R20-25 lakh in capex.

Starting this quarter, Infosys is going to market with a 'pay per branch' subscription model for the solution it calls Finacle Lite. The subscription bundles access to physical infrastructure, database and operating system as well as the Finacle application and services, senior VP and global head of Finacle Haragopal Mangipudi said.