Month: November 2005

Infosys’ solution to enable the Bank’s strategy to differentiate leveraging agile technologies

Bangalore, November 30, 2005 Infosys Technologies (NASDAQ: INFY) today announced that a leading Saudi bank, Arab National Bank (ANB), has chosen Finacle core banking solution to power its aggressive focus on the burgeoning retail banking market in the Kingdom.

ANB is one of the largest and most respected banks in the Kingdom and ranked among top 500 banks globally. The bank aims to leverage new generation technology to differentiate its value proposition in retail banking and manage the expected rapid growth in scale of operations.

‘We were looking for a flexible solution proven in the retail banking market, and Finacle emerged as our first choice after a comprehensive selection process’ said Nemeh Sabbagh, Managing Director, Arab National Bank. ‘Our business growth requires an efficient core banking system through which we can deploy quickly new products and services, and Infosys has committed to deliver solutions which meet our specific market needs’, he added.

Commenting on the win, Merwin Fernandes, Vice President and Business Head, Finacle, Infosys Technologies Limited said “The decision of ANB, an existing Finacle customer for e-banking, to choose Finacle for core banking as well, is a strong reinforcement of their belief in the partner. This win further consolidates our leading position in the Saudi market and strengthens Finacle’s position as the choice of solution for large banks in the retail and universal banking space worldwide. Our ability to effectively mitigate the risks of complex legacy migrations while providing a new generation solution that maximizes the business value to our customer banks is what is propelling Finacle success today globally.”

Finacle is a global player in the packaged banking solutions space, with a customer base across 47 countries. Finacle has a strong presence in Asia-Pacific, Europe, Middle East and Africa. Finacle differentiates itself through its new generation technology architecture and its strong implementation record. Finacle acts as the bank’s strategic IT partner in its transformation initiatives.

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

About Arab National Bank

Arab National Bank (ANB) is one of the fastest growing commercial banks in the Kingdom of Saudi Arabia. ANB was established in 1980 and has $16 billion in assets and 35% return on equity. ANB has emerged as a leader within the Kingdom in exploiting technology to serve business needs and has pioneered initiatives such as internet banking in the Kingdom. ANB is a pioneer of non-branch channels of distribution of products and services including Phone Banking and Internet Banking Services. For more information, please visit www.anb.com.sa

Finacle to Power Bank’s M&A Initiative and Aggressive Growth Plans

Bangalore, India; Lagos, Nigeria – November 2, 2005: Infosys Technologies (NASDAQ: INFY) today announced that United Bank for Africa (UBA), one of Africa’s largest banks, has selected Finacle universal banking solution for its business transformation initiative. UBA will deploy Finacle core banking, consumer and corporate e-banking, alerts, CRM and treasury solutions. With this win, Finacle now powers two of the top three banks in West Africa, in addition to several others and has further consolidated its position as a clear market leader in the Nigerian core banking market.

United Bank for Africa will consolidate its technology platform on Finacle following its recent merger with Standard Trust Bank, another Top 5 bank in Nigeria. The union is the first successful merger transaction in the history of the Nigerian banking sector and was born out of a desire to lead the sector to a new era of global relevance by raising service level in the industry to global standards, develop new products that would bring convenience to customers and support the development initiatives of the government of Nigeria. In its determination to continue to leverage on a robust IT infrastructure designed to achieve excellent service delivery to its growing clientele, UBA has chosen to partner with Finacle.

Announcing this today, Phillips Oduoza, Executive Director, Group Shared Services (GSS), United Bank for Africa, said, “Finacle’s proven track record with Nigerian banks was a key factor in our selection criteria. In the competitive and dynamic banking environment of Nigeria today, our bank requires a solution that can scale up to our growth plans and provide UBA the much-needed agility to create a clear differentiation in the market. We believe that Finacle possesses the powerful features of flexibility and scalability, providing us with a competitive advantage to stay ahead and provide new and improved products and services to delight our customers.”

“We are delighted to add another top Nigerian bank to our portfolio,” said Merwin Fernandes, Vice President and Business Head-Finacle, Infosys Technologies Limited. “In an M&A scenario, banks experience a sudden surge in volumes and face a critical challenge to seamlessly integrate diverse technological platforms. Finacle with its proven expertise on both counts is ideally suited to enable banks to meet these twin challenges, ” he added.

With this win, Finacle has further consolidated its market position in Africa, with a foot print extending to 9 countries across the continent.

Finacle is a global player in the packaged banking solutions space, with a customer base across 47 countries. Finacle has a strong presence in Asia-Pacific, Europe, Middle East and Africa. Finacle differentiates itself through its new generation technology architecture and a strong implementation record. Finacle acts as the bank’s strategic IT partner in its transformation initiatives

About United Bank for Africa

United Bank for Africa PLC (UBA) is the product of a merger of two of Nigeria’s top five banks, UBA and Standard Trust Bank Plc (STB). Today, consolidated UBA is largest financial services institution in sub- Saharan Africa (excluding South Africa) with a balance sheet size in excess of 400 billion naira (approx. US$3bn), and over two million active customer accounts. The consolidated UBA has a total of over 400 retail distribution outlets across the country. With a fully automated back office and front desk for loan processing, payments and transfers, the bank guarantees quick and efficient service as a spin-off of e-banking which facilitates its offering of internet banking, debit cards, e-payments, mobile banking and credit cards. UBA also has international presence in New York, Grand Cayman Island and aspires to expand within sub-Saharan Africa. For more information, please visit www.ubagroup.com.

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