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3i Infotech awarded retail-banking order from Temirbank, Kazakhstan

TRITON - Universal Lending Solution will power Temirbank’s entry in the lucrative retail banking arena

Dubai - January 19, 2006 – 3i Infotech, a global provider of IT solutions and one of India’s largest and the fastest growing software product companies*, today announced that it has been awarded an order from Kazakhstan’s Temirbank; for its Universal Lending Solution, TRITON™. TRITON™ will power transformation of Temirbank, one of Kazakhstan’s top 10 banks into a retail bank.

Under the terms of the agreement, 3i Infotech will provide in-depth business and technology consulting services to support the bank’s ambitious retail dream. The bank will implement TRITON™, 3i Infotech’s Universal Lending Solution, covering loan origination, management and collection.

"Temirbank as an organization has strived to be one of the finest corporate banks in Kazakhstan. Having achieved this goal, we now want to replicate the same success in retail banking. For this purpose it was essential to leverage technology that will give us the edge for realizing our dream," said, Mr. Murat Yuldashev, Chairman of the Board, Temirbank.

He added, "Temirbank’’s decision to select 3i Infotech’s TRITON emerged after an exhaustive due diligence involving various other international vendors. In addition, 3i Infotech’s expertise in the retail banking space and impressive TRITON client list reinforced our decision to implement TRITON. TRITON’s USP lies in its compatibility with conventional and Islamic (Takaful) retail banking products and procedures, covering mortgages, personal loans, auto and insurance agents as well as credit bureaus."

Commenting on the deal, Mr. Kalpesh Desai, Chief Operating Officer, 3i Infotech (Europe, Middle East & Africa), said, "We are privileged to be integral to Mr. Murat Yuldashev’s vision to transform Temirbank into a leading retail bank. I am confident that the choice of TRITON will go a long way in fulfilling his vision."

"This deal re-inforces 3i Infotech’s strength in the BFSI (Banking, Financial Services and Insurance) space," he further added.