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March 28, 2010

Infosys Offers Finacle Solutions For East African Banks

Infosys Technologies, a global provider of IT services, has offered Finacle 10 and Finacle Financial Inclusion solution for banking transformation and power innovation for banks in East Africa.

By CBR Staff Writer

Infosys Technologies claimed that 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.

The Finacle Inclusion solution will enable 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 will enable 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.

James Mwangi, CEO of Equity Bank in Kenya, said: “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.”

Amit Dua, associate vice president and EMEA regional manager of Finacle at Infosys Technologies, said: “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.”

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