Esanda leaps into online savings with Infosys’ finacle solution

Bangalore, April 27, 2005 Infosys in conjunction with Esanda today announced the successful launch of Esanda’s Online Saver product, marking the company’s entrance into Australia’s mainstream savings market.

Esanda is a wholly owned subsidiary of the ANZ Banking Group Ltd, better known for its provision of vehicle and equipment finance solutions and fixed interest investments.

The launch of Online Saver, which utilises the Finacle universal banking solution from Infosys, enables Esanda to compete head on with Australia’s major banks by offering customers access to a high interest savings product accessible via the telephone or internet.

The project, which was completed in six-months, was rolled out across Queensland in April 2005 and will be launched nationally later this year.

Commenting on the success of the project to date Elizabeth Proust, Managing Director of Esanda, said: “The response from customers has exceeded all expectations. We’ve had over a 1000 customers sign up in the first few days, nearly three times the number expected. We’re well on the way to reaching our goal of 8500 customers in the first three months,” Proust added.

“The short time-to-market of Finacle combined with the predictable delivery of Infosys has provided us with exactly the sort of competitive advantage we were seeking,” said Proust.

By working with Infosys and leveraging Finacle universal banking solution, Esanda was able to launch Online Saver in just six months compared to the two years it would have taken to build the system from scratch.

Gary Ebeyan, Chief Executive Officer of Infosys Australia, said: “We were excited at the opportunity to enable an Australian corporation to take on global competitors and rose to the challenge in delivering the solution within six months. We were able to leverage Finacle’s unparalleled track record, our global experience in banking and finance as well as our global delivery platform to help Esanda drive its new business enterprise. We are now looking forward to helping Esanda enhance its savings platform further and growing its customer base.”

As a result of the success of Online Saver, Esanda is currently fast tracking the implementation of further features using Finacle.

About Infosys Australia

Infosys Australia is a leading provider of business driven technology solutions for the enterprise. We work with our clients in the spirit of partnership to assist them gain competitive advantage, achieve future growth and increased profitability. We deliver world-class solutions cost-effectively, predictably and in the shortest possible time, utilising outstanding local talent, backed by vast global capability, in-depth industry knowledge and technical excellence. Infosys Australia is the Australian subsidiary of Infosys Technologies, a world leader in consulting and information technology services, with over 30,000 employees in over 30 locations worldwide.

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.

Aspis bank, Greece opts for Finacle to replace legacy

Infosys’ universal banking solution to power bank’s core banking and treasury operations

Bangalore, April 19, 2005 Infosys Technologies (NASDAQ:INFY) today announced that Aspis Bank, one of the leading medium size retail and commercial banks operating in Greece, has signed up for Finacle universal banking solution to power its core banking and treasury operations across 66 branches.

Aspis Bank is embarking on an ambitious business transformation strategy aimed at achieving aggressive growth and rapid differentiation leveraging technology. At the heart of this strategy is the initiative to replace its legacy systems with a flexible and scalable new generation platform and Finacle is the chosen solution to replace legacy systems and drive the transformation initiative.

Finacle will enable the bank to create a differentiated customer experience through innovative products, unified customer view, seamless integration with channels and greater customer convenience. Finacle will also enable the bank to achieve greater efficiency and lower costs in its operations and increase fee income.

Built on new generation technologies, open industry standards and services oriented architecture, Finacle will replace the existing legacy systems and provide the bank with a future proof technology platform that offers tremendous flexibility, scalability and reduced total cost of ownership.

According to Mr. George Dayantis, General Manager- Operations and IT, Aspis Bank, “This is a very strategic project for the bank and is core to our technology led transformation initiative. We are confident that by migrating from our current legacy systems to Finacle, it will provide our bank tremendous business agility and time-to-market advantage. Apart from the rich functionality and open architecture, we are especially impressed with its flexibility and scalability, which we feel is critical to our retail driven growth strategy. Infosys’ impeccable delivery track record, global experience of working with leading banks and the financial viability reinforced our confidence in selecting Finacle for a mission critical project of this nature and Infosys as the strategic technology partner of the bank in this key initiative.”

Mr. Merwin Fernandes, Vice President and Global Head (Sales & Marketing) – Finacle, Infosys Technologies said, “We are delighted to welcome Aspis Bank to the rapidly growing family of Finacle clients globally. This is an important milestone in our legacy core banking replacement journey. Finacle, with its unparalleled scalability powering some of the largest live sites in the world, service oriented architecture and unblemished delivery track record, has today emerged as the lowest risk solution for banks worldwide wanting to replace their legacy systems and leverage technology to rapidly grow and differentiate. Within this market space, Europe, in particular, is a key focus market for Finacle and we have made significant investments in getting our products and delivery aligned to the needs of the market”.

About Aspis Bank

Aspis Bank is a medium sized retail and commercial bank established in 1992. It has total assets approaching 2 billion euros and operates 66 branches throughout Greece, providing its wide client base with the full range of banking products and services. As part of the larger Aspis Group, a leading Greek insurance, investment and financial services group, it strives to utilize state-of-the-art technology solutions to enhance all aspects of its operations. For more information, visit www.aspisbank.gr

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.