Shanghai, December 10, 2009: Infosys Technologies Ltd. and Société Générale today announced the successful implementation of Finacle™ core banking, CRM, wealth management and consumer e-banking solution at Société Générale (China) Limited, the first French bank offering a wide range of corporate, private and retail banking services in China. With Finacle™, Société Générale’s customers in China will have the convenience of Internet banking along with real-time access to account balances, and an expanded range of products and services online.
The state-of-the-art Finacle™ solution implemented across all branches of Société Générale (China) Limited has enabled the bank to embark on its ambitious retail growth and innovation agenda, with a highly scalable and flexible technology engine. With the solution, Société Générale (China) Limited is able to offer its customers a wider range of banking products and services. A central repository of customer data has enabled bank staff to see a single, 360 degree view of the customer. Further, all channels of communication of the bank – Internet, mobile, ATM, branch – are integrated to provide customers more convenience.
Haragopal Mangipudi, Global Head- Finacle, Infosys Technologies Limited, said, “We are delighted that Finacle has gone live at Société Générale (China) Limited and we are committed to supporting the bank achieve its objective of becoming the preferred retail banking services provider in China. China is strategically important for us with seven leading global banks operating in the country already powered by Finacle. We look forward to continue partnering with Société Générale on their future innovation and growth plans.”
According to Jackson Cheung, Chief Executive Officer, Société Générale (China) Limited, “The right technology backbone, with the scalability and flexibility to match our growth pace, is important for us at this juncture to achieve competitive edge in the Chinese retail and corporate banking market. We are confident that our partnership with Finacle from Infosys will help us to grow our business and provide our customers with an innovative banking experience.”
Société Générale (China) Limited is now using Finacle™ to create more innovative wealth management products and also plans to use the solution to enhance its customer acquisition strategy. As a leader in banking transformation, Finacle™ has a global footprint across 64 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”.
About Société Générale
Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 163,000 people worldwide in three key businesses:
- Retail Banking & Financial Services: Société Générale serves more than 30 million individual customers worldwide.
- Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 3 073 billion, September 2009) and under management (EUR 348 billion, September 2009).
- Corporate & Investment Banking: Société Générale tailors solutions for its clients across sectors by capitalising on its worldwide expertise in investment banking, global finance, and global markets.
Société Générale is included in the socially-responsible investment indexes: FTSE4Good and ASPI.
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 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
About Infosys Technologies Ltd
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.
Infosys Technologies Ltd – Safe Harbor
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.
For further information, please contact:
Infosys Press Office – Asia Pacific
Infosys Technologies Ltd, India
Infosys Press Office – Shanghai
Infosys Technologies (China) Co., Ltd.
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Société Générale (China) Limited Press Office
Société Générale (China) Limited