The Housing Bank for Trade & Finance partners with Finacle™ from Infosys to drive product innovation

The Bank plans to leverage Finacle to grow its customer base by differentiating its offerings and enhancing service experience.

Jordan, Bangalore – June 6, 2011: The Housing Bank for Trade & Finance (HBTF) and Infosys Technologies Ltd today announced that HBTF selected Finacle™ core banking solution to power the Bank’s innovation and customer experience–led growth agenda. Finacle™ will empower the Bank’s 112 home country branches with a unified, future-proof technology platform delivering all the benefits of Straight Through Processing and support for true 24X7 multi-channel and multi-currency transactions.

Built on new generation technology, Finacle™ will enable The Housing Bank for Trade & Finance to stay ahead of emerging customer demands with greater agility. Leveraging Finacle™, the Bank can accelerate innovation through the launch of personalized offerings, bundled products and enriched segment-specific portfolios. The unified 360 degree view of customers that Finacle™ will bring to the Bank’s relationship managers will help the Bank to institutionalize its retail and corporate client relationships and exponentially enhance its service experience.

According to HBTF`s Chairman, His Excellency Dr. Michel Marto, ‘Over the years, our customers’ goodwill has been a key driver of our leadership position in the market. To sustain this advantage, we need a robust technology infrastructure to relentlessly drive our product innovation and banking experience to greater heights. We selected Finacle™ for its rich functionality, proven flexibility and unmatched delivery track record. We are confident that this partnership with Finacle™ will enable us to delight and grow our customer base.”

As a leading full-fledged commercial bank in the region, The Housing Bank for Trade & Finance services clients with a wide and sophisticated spectrum of offerings. With aggressive plans to expand its distribution, the Bank will rely on Finacle ™ to facilitate the delivery of world class banking services as it grows its customer base in Jordan and the region.

Haragopal Mangipudi, Global Head – Finacle™, Infosys Technologies, said, ” Middle East & North Africa is a region of key focus for us and we continue to be committed to the needs of the market. We look forward to closely working with The Housing Bank for Trade and Finance in helping them to harness the power and flexibility of Finacle for business transformation.”

About The Housing Bank for Trade and Finance

The Housing Bank for Trade and Finance (HBTF) was established in 1973, and provides full commercial banking services. The Bank’s capital is USD (355) million, and shareholders’ equity is USD (1.444) billion. At the end of 2010, pre-tax profits rose 20% to USD 164.2 million, and assets increased to USD 9.422 billion.

HBTF expanded its branch network on a wide scale in the Hashemite Kingdom of Jordan so as to enhance its distribution channels to effectively reach out to citizens in all the Kingdom’s provinces. Then, the Bank sought to offer its services in Palestine, and the Kingdom of Bahrain.

At a later stage, HBTF established subsidiary banks in Algeria and Syria. In addition, the Bank opened representative offices in the UAE, Libya, and Iraq.

By the end of 2010, HBTF ranked first in the banking sector in Jordan in terms of its branch network (112) branches with a market share of (16%), ATM network (187 ATMs with a market share of 16%), saving accounts (USD 1.323 billion with a market share of 42%), and customer base (exceeding 707 thousand persons).

HBTF is the second largest bank in terms of assets, customers’ deposits, credit facilities, profits, and equity. The Bank in also, a leader in obtaining several international credit ratings, and winning of international honorships and awards.

About Finacle™ Universal Banking Solution

Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This framework for multi-disciplinary change, enables banks to shift their strategic and operational priorities.

Finacle solutions address the core banking, e-banking, mobile banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide. Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solution in its class. These solutions, when associated with Finacle services, empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation. For more information, visit

About Infosys Technologies Ltd

Many of the world’s most successful organizations rely on the 130,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow’s enterprise.

For more information about Infosys (NASDAQ: INFY), visit

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Press Contact

For further information, please contact:
Infosys Press Office – Asia Pacific
Joya Ahluwalia
Infosys Technologies Ltd, India
+9180 41057527

Housing Bank for Trade and Finance – Jordan
Basheer Omar
Marketing Center Manager