Bangalore â June 16, 2005 Infosys Technologies (NASDAQ: INFY) today announced that Finacle universal banking solution has won âThe Banker Technology Awards 2005â. Finacle CRM solution was declared a WINNER in the âCRMâ category. Institutionalized by The Financial Times UK, The Banker Technology Awards are annual awards that recognize innovation and excellence in the banking technology space worldwide. It must be noted that in 2004, The Banker awarded Finacle for the âMobileâ and âApplication of the Yearâ category.
Dan Barnes, Financial Systems Editor of The Banker said, "Finacle CRM solution was a notable first for its range. The system is designed to cover both consumer and corporate banking customers. At its core is a strong workflow engine, which gives the bank visibility of its processes so that service requests can be seen and any time-outs or problems dealt with."
He further added, "At one large Indian bank, the solution was deployed across many front office locations using thin client and other distribution channels. Major cost reductions were found through this method compared with the incumbent systems. The system also had to integrate with many third-party systems and platforms-a task that was achieved in just 7 months."
"This international award is a reiteration of the value that our customers expect from Finacle." said Girish Vaidya, Senior Vice President and Business Head- Finacle, Infosys Technologies Ltd. "Finacle has been architected out of years of experience in the banking industry and is the most comprehensive, flexible and scalable new generation banking solution in the industry today. The growth we have seen internationally validates the strength of our solution and this recognition by âThe Bankerâ is a tribute to our customers who have vested their trust in us."
Finacle CRM solution is a comprehensive and modular, banking-focused CRM solution, which enables banks to leverage the ready-to-deploy CRM functionality for competitive differentiation. The very backbone of Finacle CRM solution is a strong workflow engine. From a business perspective, banks are able to commit to aggressive SLAs and enforce them, thus ensuring that internal issues like user productivity, process bottlenecks etc are now available for objective, data based analysis and action. Another key differentiator of Finacle CRM solution is that it addresses the CRM requirements of both the consumer as well as corporate banking businesses in a single instance.