January 09, 2005 National Bank of Umm Al Qaiwain, one of the leading Banks in UAE, today announced that it has signed a contract with Infosys Technologies Ltd for licensing and implementing its Finacle universal banking solution to power its core banking, treasury and internet banking operations. The Bank also announced the signing of a contract with Alpha Data Ltd for a new state-of-the-art computer hardware system using HP platform. The project will be managed by Cedar Consulting – a leading Global Management and IT Consulting firm.
The overhauling of IT infrastructure is part of the Bank’s new business strategy for launching new products, enhancing customer services and building new channels. Cedar consulting is assisting the Bank in formulating and implementing its new Business and IT Strategy. The Bank’s envisaged delivery channels include state-of-the-art call centre, retail and corporate internet banking, and expanded branch/ATM network.
Speaking on the occasion, HE Sheikh Nasser Bin Rashid Al Mo’alla said, “The Bank has maintained a tradition of providing personalized and innovative products and services to its customers. With the implementation of new technical infrastructure, the Bank will offer new products and services, more transaction channels, and strive to achieve total customer satisfaction”.
Mr. Girish Vaidya, Senior Vice President and Business Head – Finacle, Infosys Technologies said, “This is a strategic win for Finacle as it further consolidates our footprint in the Middle East, a key focus region for Finacle, a region in which we have made significant investments and are witnessing rapid growth. We are very excited to be associated with the National Bank of Umm Al Qaiwain and will be working closely with the Bank to help them effectively leverage technology to meet their ambitious growth plans”.
The implementation program for the new system is expected to take 8 months including implementation of Core banking and hardware infrastructure. This will include a disaster recovery setup for the Bank
About Finacle Universal Banking Solution
Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging technology. The solution addresses the core banking, e-banking, treasury, wealth management, CRM, and cash management requirements of universal, retail, corporate, community and private banks worldwide. Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable solutions in its class. For more information, visit www.edgeverve.com/finacle.
About Infosys Technologies Ltd. (NASDAQ: INFY):
Infosys Technologies Ltd. (NASDAQ: INFY) defines, designs and delivers IT enabled business solutions. These provide our customers strategic differentiation and operational superiority, thereby increasing business competitiveness. Each solution is delivered with a high degree of time and cost predictability that ensures peace of mind. With Infosys, you get a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch your IT budget by leveraging the Global Delivery Model that the company pioneered. For more information, visit www.infosys.com.