Published Date: March 29, 2010
Finacle 10 for banking transformation and Finacle Inclusion solution to power Innovation for banks in the region
London, Nairobi, Bangalore, March 29 2010. Infosys Technologies Ltd showcased Finacle 10 and Finacle Financial Inclusion solution for banks in East Africa.
Finacle 10 will enable banks to transform their operations through standard platform and processes. A set of over 5000 parameters and an enhanced scripting studio will deliver rapid product innovation. The solution also brings a whole new set of offerings including Islamic banking, wealth management; and an enhanced mobile banking solution. Eight Tier-1 and Tier-2 banks around the world have already transformed their operations with Finacle 10.
According to James Mwangi, Chief Executive Officer, Equity Bank, Kenya, “Over the last 6 years, Finacle has provided Equity Bank a truly differentiated transformation model and is core to our business strategy. Leveraging Finacle’s state-of-the-art technology we are able to offer our customers a range of innovative products and services at reduced cost, enabling greater inclusive growth.”
According to Amit Dua, Associate Vice President and EMEA Regional Manager – Finacle, Infosys Technologies Ltd., “East Africa is a strategic region for Finacle and we will continue to invest and innovate to benefit our clients in the region. Finacle 10 with its powerful multi-entity infrastructure and transformational capabilities can help banks innovate and improve productivity to meet dynamic customer demands. With Finacle inclusion solution, banks can create a new segment by offering a differentiated value proposition for the unbanked.”
The Finacle Inclusion Solution enables banks to gain access to a new customer segment by setting up a low-cost channel to bank the unbanked. The solution can interface with any core banking solution directly or through an industry standard middleware. It enables banking customers to access their accounts through a business correspondent network. The bank’s field staff and extended correspondent network, is in turn enabled to support customer registrations, cash transactions and service both inquiries and requests. It supports multi-channel delivery of offerings with optimal operational efficiency and enables regulation compliance across markets. More details on the solution are available at:https://www.edgeverve.com/finacle/.
As a leader in banking transformation, Finacle has a global footprint across 65 countries and has been acknowledged among the leaders in the core banking solution space by top analysts including Gartner and Forrester. Finacle is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award, The Asian Banker IT Implementation Award and The Banking Technology Judge’s Special Award for “Innovative Use of IT”.
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 proven and effective framework for multi-disciplinary change, enables banks to shift their strategic and operational priorities. Finacle solutions address the core banking, e-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 www.edgeverve.com/finacle
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 104,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit www.infosys.com
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31 2009 and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.