Month: March 2006

Core banking replacement emerging as a key priority for banks across the globe

Goa/Bangalore, March 22, 2006 The banking industry is in the midst of a transformation and business and technology professionals need to prepare themselves for the banking customer of the coming decade, who, in all likelihood, is going to be very different and even more demanding than what is seen today. This message came through clearly in the deliberations and discussions at the Finacle Conclave at Goa.

In his keynote address, Mr. K V Kamath, Managing Director and CEO, ICICI Bank, set out the ground rules for doing banking for the masses. Citing ICICI bank as a model of successfully leveraging technology to achieve leadership and competitive advantage, he traced the bank’s technology-led transformation from year 1999 with the bank deciding to use it as a disruptive tool to expand service delivery to the growing customer base coupled with lower costs. Outlining the bank’s new growth horizon, he said that the bank is now focusing on rural banking as a key growth driver and there is need for new business model and distribution strategy to reach the un-banked world.

In an interesting session on emerging technologies, William Conner, Lead Analyst, Financial Services Technology, Datamonitor said that upper tier banks are beginning to consider core systems replacement over the next five years, although due to their size and complexity, they will be approaching replacement incrementally. The new generation core banking technology will play a key role in defining business agility and operational efficiencies of the organizations to compete with the older behemoths. Underlining the importance of service-oriented architecture (SOA), he added that banks need to understand how to take advantage of the benefits it can provide and make the transition from their existing architecture with the minimum disruption. The majority of upper tier banks are expecting SOA to impact their business in the next three years and see web services as having the most significant impact. He further added.

Finacle Conclave, the prestigious global banking CXO forum, is being organized by Infosys Technologies. Over 100 delegates from 26 countries comprising of global banking leaders, leading analysts and renowned experts from the banking sector are participating in the event.

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 and corporate 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. 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

Safe Harbor:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2005 and our reports on Form 6-K. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

Leading analysts and bankers deliberate on the banking and technology trends at Finacle Conclave

Goa/Bangalore, March 21, 2006 Finacle Conclave at Goa got off to a flying start with participation of over 100 delegates from 26 countries.

In a debate on retail banking growth drivers, Octavio Marenzi, CEO and founder of Celent Communications predicted that retail banking will increasingly continue to be the key driver of growth for banks in coming years. Mr. Marenzi shared his thoughts on how technology is helping banks manage this unprecedented growth, thereby setting new standards and giving rise to an altogether new set of customer expectations. He further emphasized that the changing retail banking imperatives would include tighter integration of CRM, branch automation and new delivery channels.

Earlier the Finacle Conclave 2006 began on March 20th with an address by Mr. Ricardo Semler, President, Semco S/A and author of famous books ‘Maverick’ & ‘The 7 Day Weekend’. Mr. N R Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies was the first keynote speaker to address the delegates today. Addressing the conference, Mr. Murthy outlined the critical role of the transformation mindset that differentiates the winning organizations from others. He outlined the key factors of leadership including speed and innovation to create a sustainable competitive differentiation.

In another session on the subject of “Bridging the Business and Technology Divide”, Mr. George Dayantis, General Manager, Aspis Bank, Greece stressed on the fact that Business and Technology can no longer exist in isolation. Millions of dollars invested in technology would not give optimum returns till business processes are optimized to leverage the next generation of technology capability.

The first day of the conclave concluded with a panel discussion on ‘Business Priorities for Banks for 2006’. Leading bankers from Australia, Jamaica, Nigeria and Croatia participated in the panel moderated by Mr. Emmanuel Daniel, Founder, The Asian Banker. The panelists engaged in an interesting debate that brought to focus issues like rewriting the cost proposition to compete effectively, intelligent use of technology and most importantly the reality that despite the changing landscape, banks would do well to maintain focus on changing customer demands and adapt the institutions to that change.

Finacle Conclave is a prestigious global banking CXO forum being organised by Infosys Technologies. The event is being held in Goa from March 20-22nd. Besides the global banking leaders, leading analysts and renowned experts from the banking sector are attending this conclave.

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 and corporate 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. 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

Safe Harbor:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2005 and our reports on Form 6-K. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

Global banking & technology visionaries to visit India for Finacle Conclave

Bangalore, March 14, 2006 Finacle Conclave at Goa got off to a flying start with participation of over 100 delegates from 26 countries.

Infosys Technologies Ltd, today announced that it is organizing Finacle Conclave 2006, the inaugural client forum of Finacle that aims to bring together thought leaders and visionaries from the world of banking. The event is a prestigious global banking CXO forum with participation from close to 100 CXO’s from 27 countries. The event is being held in Goa from March 20-22nd. Besides the global banking leaders, leading analysts and renowned experts from the banking sector will also be attending this conclave.

The conclave will provide a platform to banking thought leaders to share and deliberate on some of the most important issues impacting the banking industry. Global Trends in Retail Banking, Business and Technology Integration, Core banking Replacement, Business and Technology priorities for the year ahead are among the few subjects being debated at this Conclave.

The Conclave aims to feature some of the best known names in the banking and technology space globally. Mr. KV Kamath of ICICI bank and Mr. N.R. Narayana Murthy of Infosys are among the key note speakers. Besides them, CIO’s and Business Heads of some of the leading banks from Asia Pacific, Europe, Middle East and Americas, analysts and consultants from leading firms like Gartner, Celent, Datamonitor and Forrester would be amongst the key speakers at this 3- day event.

According to Merwin Fernandes, VP and Business Head, Finacle, Infosys Technologies, “Finacle with its global network of clients across 49 countries was ideally placed to create this unique platform of Finacle Conclave. This platform will not only help our clients and other bankers from across the globe to share business and technological achievements and learn from global best practices, but also along with our partners help us to better understand and address the changing requirements of the industry.”

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 and corporate 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. 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

Safe Harbor:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2005 and our reports on Form 6-K. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

Finacle breaks into the growing Latin American market with this prestigious win

Bangalore, March 09, 2006 Infosys Technologies (NASDAQ:INFY) today announced that Banco Continental de Panama (BCP), a leading universal bank from Panama ranked among top 1000 banks globally by The Banker, has selected Finacle universal banking solution to power its operations across Central America. The bank will be investing approximately US $20 million over 2 years. Finacle will replace bank’s legacy core banking systems in Panama and other Central American countries. The bank will also deploy Finacle CRM, e-banking and alert solutions.

Announcing this at a joint press conference, Stanley Motta, Chairman, BCP said “We have initiated a process to modernize and redefine our operational system as well as the way we do business and serve our customers. The purpose is to increase our efficiency and strengthen our leadership position in the competitive global and local banking industry.”

As part of this transformation initiative, the bank embarked on a rigorous evaluation of various global and regional banking solution providers. “We chose Finacle as it symbolizes a proven new generation solution backed by Infosys, a strong partner with excellent delivery track record, ensuring the lowest risk to the bank in this challenging and strategic project. We are confident that in Finacle and Infosys, we have found the best combination to power our transformation initiative.” added Stanley Motta.

With the rollout of Finacle, the bank will be able to consolidate its technology and operations platforms across the region. The bank will leverage Finacle’s integrated CRM functionality to empower its relationship managers and call center agents to streamline service requests and cross-sell its products and services to its customers. The solution will also enable the bank to offer enhanced web-based banking experience by adding new functionalities like EBPP and multi channel alerts through Finacle e-banking solution.

Speaking at the press conference, Merwin Fernandes, VP & Business Head- Finacle, Infosys Technologies said “This win is a significant breakthrough for Finacle and Infosys into the Spanish and Latin American markets. LATAM is a key focus region for Finacle and we have made continuous investments in aligning the solution to the needs of the market. Our unique value proposition basedon minimizing risk and maximizing opportunity for our clients is emerging as a key differentiator globally.”

Finacle is a global player in the packaged banking solutions space, with a customer base across 49 countries. The solution has a strong presence in Asia-Pacific, Europe, Middle East and Africa. It 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 Banco Continental De Panama

Banco Continental, a Panamanian privately held bank, with investment grade rating from Standard & Poors and Fitch Ratings, offers products and services for corporate, private and retail banking. The bank has 21 branches and 17 Loan Centers in the Republic of Panama and representative offices in Central America, Mexico and Colombia.

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 and corporate 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. www.edgeverve.com/finacle

About Infosys Technologies Ltd. (NASDAQ: IN)

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

Safe Harbor:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2005 and our reports on Form 6-K. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.