Boston-based Eastern Bank Selects Infosys Finacle to Revamp its Online and Mobile Banking Products and Services

Bangalore and Boston – April 16, 2014: Eastern Bank, the largest and oldest mutual bank in the United States, has chosenInfosys Finacle to enhance its online and mobile banking products, while also providing a platform that allows for future growth and makes banking easier for its customers. Eastern Bank selected Finacle e-banking, mobile banking, and enterprise alert solutions to meet the ever-changing needs of its growing base of consumers, small business, and commercial clients.

The changes mean Eastern Bank, which has $8.7 billion in assets and nearly 100 banking offices in eastern Massachusetts, will soon be positioned to quickly launch new services and update current offerings so that its customers consistently have access to highly competitive online and mobile banking products.

Highlights

Quotes

Barbara Heinemann, Executive Vice President, Chief Information Officer, Eastern Bank:
‘At Eastern Bank, we are committed to putting the needs of our customers first. We are especially dedicated to providing our customers with products and services that make managing money simple. We’re excited and confident that our customers will soon enjoy Finacle’s intuitive online and mobile products.’

Haragopal M., Senior Vice President and Global Head – Finacle, Infosys:
‘We are helping banks across the world put customers at the heart of their transformation journey. Eastern Bank’s unwavering focus on delivering better and faster services to its customers is the underlying foundation of this new platform designed on Finacle. We look forward to bringing our vast global experience and proven technology offerings to continue to make banking with Eastern Bank a simple and enjoyable experience.’

Additional resources

About Eastern Bank

Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the country, with $8.7 billion in assets and more than 90 branches serving communities from the Merrimack Valley to Cape Cod. Eastern Bank offers banking, investments, and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Bank Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes. For more information, visit www.easternbank.com, www.facebook.com/easternbank orwww.twitter.com/easternbank.

About Infosys

Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$8.2B in annual revenues and 160,000+ employees, is Building Tomorrow’s Enterprise® today.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, 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, fluctuations in foreign exchange rates, 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 or expiration 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 the United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013, and on Form 6-K for the quarter ended December 31, 2013. 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. In addition, please note that the date of this press release is mentioned at the beginning of the release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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 unless it is required by law.

For further, information please contact:

Asia Pacific
Sadaf Khan
Infosys, India
+91 80 4156 4971

EMEA
Paul de Lara
Infosys, UK
+44 2075162748

Americas
Tara Kozak-Lindsay
GolinHarris for Infosys, USA
+1 212 373 6020

Infosys Finacle Achieves New Global Benchmarks for Processing Banking Transactions; Successfully Supports Over 1.9 Billion Customer Accounts on Oracle SuperCluster

Finacle can process six times the volume of transactions currently processed by the entire US banking system; achieves Oracle SuperCluster optimized status

Bangalore – April 9, 2014: Infosys today announced that its Finacle core banking solution(1) running on an Oracle SuperCluster engineered system(1) has set new global benchmarks for the number of transactions processed across key banking functions. In a test that was audited and reviewed by the global audit firm, Ernst & Young, the solution supported over 1.9 billion(2) bank accounts with near linear scalability – a number higher than the current population of China, the most populous country in the world(3). The tests were conducted across a mix of 12 business-critical online transactions and batch processes. The Finacle solution(1) was tested on an Oracle SuperCluster and Oracle SPARC T5 servers with Oracle Solaris 11 to determine its performance and scalability parameters.

The test also saw Finacle processing 726 million effective transactions in four hours, or over 50,000 average transactions per second, to manage workloads comprising of multiple online transactions and customer touch points as well as third-party systems. This represents six times the daily volume of transactions currently processed by the entire US banking system, based on industry estimates of transaction volumes(4). These results highlight Finacle’s capabilities to help banks manage extremely large transaction volumes and cater to a dynamically growing customer base at lower costs.

Key performance highlights(1)

Additionally, Infosys Finacle(1) has earned the Oracle SuperCluster Optimized status through Oracle PartnerNetwork (OPN), demonstrating that Finacle(1) has been tested and tuned on Oracle SuperCluster to deliver speed, scalability, and reliability to customers. Infosys is a Diamond level member of Oracle PartnerNetwork.

Quotes

Haragopal M., Senior Vice President and Global Head – Finacle, Infosys
“Efficient performance and robust scalability are critical requirements for banks to manage growth globally. The current lab benchmarks demonstrate Finacle’s prowess in consistently processing large volumes of transactions across critical banking functions. With Finacle, banks can now scale without worrying about managing exponential increases in business volumes and operational costs.”

Stephen Greer, Analyst – Retail and Business Banking, Celent
‘Infosys Finacle is, unsurprisingly, at the top of their game right now. This benchmark further underlines Finacle’s impressive capabilities. The last time Celent recorded a scalability benchmark from core banking solution providers was in 2012 for the large bank core banking solutions assessment. The current lab benchmark numbers published by Infosys present significant results which are better than data published by some leading industry players, demonstrating that Finacle is one of the most scalable core banking solutions available. It’s no surprise that Finacle was the leader for sales in Celent’s core banking sales ranking for 2013. This is definitely an accomplishment and something Celent will be watching going forward.’

David Hicks, Vice President, Worldwide ISV, OEM and Java Business Development, Oracle
“Oracle Exastack Optimized recognizes partners who have optimized their solutions on a complete, integrated and cloud-ready infrastructure in order to help them accelerate innovation, unlock new features and functionality, and deliver superior value to users. By achieving Oracle SuperCluster Optimized status, Infosys has demonstrated that its Finacle core banking solution is tested and tuned to work with Oracle SuperCluster to help deliver performance, scalability, and reliability to their customers. With the latest benchmark figures achieved with Oracle SuperCluster, Finacle has demonstrated its ability to support near linear growth in transaction volume and customer base for retail banking.”

Notes:

  1. Infosys Ltd., conducted a performance benchmark exercise of Finacle Core Banking Solution version 10.2.13 (herein referred to as ‘Finacle’) on Oracle Solaris 11.1 operating system, Oracle T4/T5 servers at the web, JEE and application layers. Further, Oracle RAC database was deployed on Oracle SuperCluster, WebLogic Server 10.3.6 was deployed on JEE servers and Oracle https Server 11.1.1.6 was deployed on Web servers for online transaction processing mix of 12 business critical transactions
  2. The benchmark was simulated on Finacle database of size 49.84TB having 205,028 branches, 947,364,904 customers, total of 1,969,026,822 accounts, 17,825,570,000 transaction history and 1,037,904 branch user.
  3. China’s population figure as of 2012 from World Bank website
  4. As per the recent CEB TowerGroup report titled Planning Your Cross-Channel Future published on Dec 2012, the total volume of transactions per year in US is 73.9 billion or 205 million transactions per day

About Infosys

Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$7.4B in annual revenues and 158,000+ employees, is Building Tomorrow’s Enterprise® today.

About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle’s partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle’s growing product portfolio, partner base, and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more, visit https://www.oracle.com/partners

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates.

Oracle SuperCluster Optimized is part of the Oracle Exastack Optimized program which allows partners, such as Infosys, to leverage OPN enablement resources and dedicated lab environments to help develop, test and tune their applications on Oracle Exadata Database Machine, Oracle Exalogic Elastic Cloud, Oracle Exalytics In-Memory Machine and Oracle SuperCluster engineered systems. Oracle SuperCluster engineered systems are Oracle’s fastest and most scalable engineered systems and are ideal for DBaaS implementations, consolidating databases and applications, as well as private cloud deployments. With the world’s fastest processors and Oracle Exadata Storage Servers optimized for Oracle Database, Oracle SuperCluster delivers unprecedented price/performance for mission-critical databases and applications. Oracle SuperCluster demonstrates Oracle’s unique ability to innovate and optimize at every layer of the stack to simplify data center operations, drive down costs, and accelerate business innovation.

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, fluctuations in foreign exchange rates, 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 or expiration 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 the United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013, and on Form 6-K for the quarter ended December 31, 2013.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 unless it is required by law.

For further, information please contact:

Asia Pacific
Sadaf Khan
Infosys, India
+91 80 4156 4971
Sadaf_Khan03@infosys.com

EMEA
Paul de Lara
Infosys, UK
+44 2075162748
Paul_deLara@infosys.com

Americas
Tara Kozak-Lindsay
GolinHarris for Infosys, USA
+1 212 373 6020
tkozaklindsay@GolinHarris.com

Banks Using Infosys Finacle See Reduction in Average Transaction Cost by Over 35 Percent, Shows Independent Customer Survey

Bangalore – April 4, 2014: The latest Infosys Finacle Business Value Articulation survey has revealed that banks using the multichannel functionality of Finacle core banking solution have reduced average transaction costs across channels by over 35 percent. The survey also showed that Finacle helped to reduce the effort to roll out innovative products and services by an average of 37 percent and create new revenue streams for banks.

These were some of the key insights drawn from responses of 52 banks, which evaluated Finacle’s impact on six business areas – growth, operational efficiency, architecture simplicity, agility, compliance, and customer relationship management. Feedback Business Consulting, an independent research agency, conducted the survey in 2013.

Key findings of the survey

Quotes

Dennis C. Bancod, Senior EVP & Head – IT Shared Services & Operating Groups, RCBC, Philippines
Infosys is our strategic partner. With Finacle, we are able to bring products to market three times faster and provide a wider set of integrated products and services for our customers. It has also been instrumental in helping us achieve a 400 percent increase in the average numbers of new customers each month. Turnaround time for operational reporting has been cut in half, while relationship manager’s sales effectiveness has improved by 40 percent.

Aruna Rao, Executive Vice President & Group Chief Technology Officer, Kotak Mahindra Group
Our experience with the Finacle core banking solution has seen an increase in new sales, cross sales and fee income since its adoption. Internal analysis indicates a 44 percent increase in the number of accounts added in the quarter succeeding Finacle implementation, compared to the quarter preceding it. Our customers have also provided positive feedback, specifically in terms of processing time at branches and their experience on the internet banking solution.

Haragopal M, Senior Vice President and Global Head – Finacle, Infosys
“It is heartening to see our clients realize and articulate the significant business benefits delivered by Finacle. The fact that this benefit was seen by our key customers across critical business metrics of cost to income ratio, customer acquisition growth rates, cross-sell success ratios, and returns on deployed assets, is extremely important to us.”

Based on bank-specific data published in The Banker, issues dated July 2012 and July 2013

Additional resources

About Infosys

Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 158,000+ employees, is Building Tomorrow’s Enterprise® today.

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, fluctuations in foreign exchange rates, 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 or expiration 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 the United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013, and on Form 6-K for the quarter ended December 31, 2013. 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 unless it is required by law.

For further, information please contact:

Asia Pacific
Sadaf Khan
Infosys, India
+91 80 4156 4971
Sadaf_Khan03@infosys.com

EMEA
Paul de Lara
Infosys, UK
+44 2075162748
Paul_deLara@infosys.com

Americas
Tara Kozak-Lindsay
GolinHarris for Infosys, USA
+1 212 373 6020
tkozaklindsay@GolinHarris.com

Infosys Finacle is the Global Market Leader for Core Platform Sales, Says Celent’s Big Leagues Table 2013

Bangalore – April 1, 2014: Infosys Finacle, the universal core banking solution, has been ranked as the global market leader in core banking systems, based on the highest number of deals won for the 12-month period ending June 30, 2013. The Big Leagues 2013: Core Platform Sales Ranking report took into consideration the sales performance of 15 global vendors based on a weighted score linked to bank size, geography and number of modules installed. Infosys Finacle scored the highest in terms of both number and aggregate value of deals won.

Highlights

Quotes

Haragopal M., Senior Vice President and Global Head – Finacle, Infosys:
‘Our leadership ranking in Celent’s ‘The Big League 2013’ report cements our global position as the number one core banking solution provider. We continue to help leading banks across the world create sustainable business growth with Finacle 11E, our latest universal banking solution. As banks strengthen their focus on accelerating innovation and fine-tuning their business models, our new solution brings advanced functionalities, increased componentization and enterprise-class capabilities to help banks achieve their goals.”

Stephen Greer, Analyst – Retail and Business Banking, Celent:
“Infosys Finacle has consistently shown its ability to implement a wide range of environments and with a large array of financial institutions, from small community banks to large multinational megabanks, winning awards for sales in Celent’s Big Leagues Sales Ranking. The recently released Finacle 11E takes an already competent and competitive market product and elevates it to another level with an impressive amount of configurability and flexibility attained through componentization. It will be interesting to see what the next year holds for Infosys Finacle, and Celent is bullish about its potential.”

Additional resources

About Infosys

Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 158,000+ employees, is Building Tomorrow’s Enterprise® today.

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, fluctuations in foreign exchange rates, 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 or expiration 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 the United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013, and on Form 6-K for the quarter ended December 31, 2013.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 unless it is required by law.

For further, information please contact:

Asia Pacific
Sadaf Khan
Infosys, India
+91 80 4156 4971
Sadaf_Khan03@infosys.com

EMEA
Paul de Lara
Infosys, UK
+44 2075162748
Paul_deLara@infosys.com

Americas
Tara Kozak-Lindsay
GolinHarris for Infosys, USA
+1 212 373 6020
tkozaklindsay@GolinHarris.com