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IDBI Bank migrates to Finacle in record time

Mumbai 19th June, 2001

IDBI Bank proudly announces conversion of its entire operating technology platform to "Finacle", a core banking software provided by Infosys. The bank has also implemented Kondor+ - a treasury Front Office software from Reuters and ITMS- treasury back office software from Synergy Login. Achievement of these significant milestones is consistent with IDBI Bank's continued focus to create customer and shareholder value through deployment of superior technology.

Entire Finacle rollout was remarkable in the following respects:

-Smooth implementation across 53 branches in a record time-frame of 5 months
-Cross functional team within IDBI Bank supported by technology partners like Infosys, Sun (Enterprise 10000 system) and Wipro (hardware implementation)
-Comprehensive training covering almost 100% users completed over last three months
-Minimal customer service impact during migration
-Customer centric migration - No need to issue new account numbers and fresh ATM cards

"Let me compliment my colleagues as well as our technology partners who have made this happen in such a demanding time frame. This firmly sets the launch pad for us to roll out our customer acquisition strategy." said Mr. Gunit Chadha, MD and CEO of IDBI Bank while commenting on this achievement.

"In the highly dynamic finance market, where rapid time-to-market advantage can be the deciding factor between winning or losing, implementing the solution in the shortest possible time-frame is in essence the key challenge. We, at Infosys, are proud to say that we have not only met but also exceeded customer expectations by enabling IDBI Bank to go live with Finacle in a record time of 5 months from the date of signing up with us. This justifies the faith that IDBI Bank has reposed in us and establishes our solutions as clear leaders in this space", said Girish Vaidya, Senior Vice President and Head, Banking Business Unit, Infosys Technologies Limited.