Bangalore – May 29, 2013: Union National Bank (UNB), Abu Dhabi, one of the Middle East’s leading banks, announced today that it has implemented Infosys Finacle to power its treasury and capital markets business. Finacle Treasury will help integrate the bank’s trading, risk management and back office operations.
Finacle Treasury was implemented to help UNB process trade faster and will also aggregate risks across multiple asset classes seamlessly. This will help reduce UNB’s costs per trade and improve operational efficiencies.
Fuad Zeidan SVP and Head – Treasury & Investment Group, Union National Bank, Abu Dhabi:
“As we expand our operations regionally and globally, it is critical for us to deploy the right technology that allows us to effectively reach and serve our customers. I am glad that over the years, our quality focus has remained even as our operations have expanded significantly, which reflect UNB’s consistent adherence to the highest quality standards.”
Amit Dua, Associate Vice President and Head – Client Services EMEA, Finacle, Infosys:
“We are excited to partner with UNB and help the bank realize its goals, as it transforms and taps new opportunities. Finacle continues to enhance its solutions for Treasury and Capital Markets and serves as an effective foundation for banks to accelerate innovation-led growth.”
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- The first successful core banking implementation in Turkey Read
About Union National Bank
Established as a Public Joint Stock Company in 1982, UNB is one of the leading domestic banks in the United Arab Emirates, headquartered in Abu Dhabi. UNB offers a variety of products and services, addressing needs ranging from basic requirements of individuals to the more complex requirements of corporate entities.
Infosys is a global leader in business consulting and technology solutions. As a proven partner focused on building tomorrow’s enterprise, Infosys enables clients in more than 30 countries to outperform the competition and stay ahead of the innovation curve. Ranked in the top tier of Forbes’ 100 most innovative companies, Infosys – with US$7B in annual revenues and 150,000+ employees – provides enterprises with strategic insights on what lies ahead. We help enterprises transform and thrive in a changing world through strategic consulting, operational leadership and the co-creation of breakthrough solutions, including those in mobility, sustainability, big data and cloud computing. Visit www.infosys.com to see how Infosys (NYSE: INFY) is Building Tomorrow’s Enterprise today.
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 our 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 quarters ended June 30, 2012, September 30, 2012 and December 31, 2012.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 required by law.
For further information please contact:
D Infosys, India
+91 80 41563373
Paul De Lara
+1 925 719 7602
Corporate Communications Manager UNB Group Corporate Communication
Tel: +971 2 6984809
Mob: +97150 4108400