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STG to Extend Infosys' Service Model

Bangalore, August 7, 2001: Infosys today announced that it has appointed Delhi based Software Technology Group (STG) International Limited, a leading IT services company providing advanced software education, corporate training and e-business solutions, as a Services Partner for Finacle, its flagship Core Banking Solution. STG, will deliver training and implementation services to the rapidly growing family of Infosys’ Finacle customers in India.

Initially, STG will have to undergo intensive classroom and on-the-job training on Finacle Product. Upon successful completion of this process, STG will qualify as a Certified Services Partner and will be able to offer implementation and training services directly to Finacle customers.

"We welcome STG to Infosys' Services Partnership forum. We are committed to providing our customers a wide range of services options. Such alliances, while on one hand will create a richer value proposition to our customers, on the other will offer significant business opportunities for our partners. Partners like STG will be able to leverage their core strengths - training and people - to deliver value to our Finacle customers and grow in the process." said Mr. Haragopal, AVP & Head, Professional Services Group, Banking Business Unit Infosys Technologies Limited.

In his statement, Dr. Suresh Nanda, CEO STG International Ltd. said, "We are happy to be a part of this path-breaking product that will revolutionize the disparate Banking systems that exist today. Finacle is by far the best product that exists today for Indian public and private sector banks because it provides these banks state-of-the-art centralised core banking features and hence an opportunity to meet the changing needs of tomorrow. STG’s rich experience in training and services will equip Finacle customers so that they can service their clients better."

"Since the beginning of year 2000, the centralized core banking market in India has been opening up rapidly. In the process Finacle has clearly emerged a winner, clinching 8 out of the 9 deals that have been finalized since January 2000. With the move towards centralised core banking, especially in the public sector and first generation private sector banks, likely to gain further momentum going forward, significant new business opportunities are opening up for partners like STG. By contributing to the success of our customers, our partners can grow and enable us to scale up seamlessly - thereby creating a win-win proposition for all concerned." said Mr. Merwin Fernandes, AVP & Head, Global Sales and Marketing, Banking Business Unit, Infosys Technologies Limited.