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
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