Financial Daily from THE HINDU group of publications
Friday, Jul 04, 2003
Financial Daily from THE HINDU group of publications Friday, Jul 04, 2003 |
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Info-Tech
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Software Money & Banking - Software Infosys to deploy FinacleTM suite for Saudi Arabian bank Vimala Vasan
ABU DHABI, July 3 INFOSYS Technologies Ltd has announced that National Commercial Bank, Saudi Arabia, has selected FinacleTM suite of banking solutions for its delivery channels initiative. Infosys would be deploying FinacleTM eChannels (its powerful consumer e-banking solution) and FinacleTM eCorporate (its comprehensive remote corporate banking, trade finance and cash management solution). NCB is the third bank in Saudi Arabia to have opted for FinacleTM after Saudi Hollandi Bank and Saudi Investment Bank. Infosys has partnered with Microsoft in this first ever .NET based offering in West Asia, according to a press release from Infosys made available to Business Line. For Infosys, this win represents consolidation for its FinacleTM e-Platform within two years of entering the market in association with their partner, Wareef United. What has distinguished Infosys is the rich and comprehensive functionality offered by its product suite in the areas of online corporate banking, cash management and trade Finance. This seems to have created a momentum in favour of FinacleTM in the market, leading Infosys to a strong position in the Saudi banking industry. Mr Hasan Al Jabri, Corporate Banking Group Country Head, NCB, said, "Our sensitivity to the needs and requirements of our customers allow us to deliver unique, personalised and highly effective solutions and services that help them achieve their objectives. NCB has invested significantly in technology as a tool to transform its business". Mr Merwin Fernandes, Vice-President and Head, Global Sales and Marketing, Banking Business Unit, Infosys Technologies Ltd, said, "FinacleTM suite of enterprise banking solutions seems to have emerged as the preferred solution for successful and forward-looking banks across the world." According to Mr Mohammed Hussain Naseem, Business Development Manager-Middle East, Banking Business Unit, Infosys Technologies, "NCB is a prestigious client for us and we are happy to be a part of their banking transformation initiative. With our Finacle eChannels and Finacle eCorporate products, we are optimistic that the bank will exceed the expectations of its online customers. "Increasingly, banks in Gulf and Levant region are demanding a whole range of online corporate banking functionalities, extensive cash management features on an online, real-time mode to meet the demands of the corporates. We are optimistic that our partnership will go a long way to give NCB derived business benefits. This win has helped us further consolidate our market reach in this space in Saudi Arabia as well as the Gulf region as a whole."
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