Finacle from Infosys Wins at the Banking Technology Awards 2008

10 November 2008

Infosys Technologies today announced that its Finacle Universal Banking Solution featured in two prestigious awards at the Banking Technology Awards 2008. Finacle was ‘Highly Commended’ in the ‘Best Core Banking Product’ category for the Banking Technology Readers’ Choice Award. In addition, Bank Sohar’s (Oman) implementation of Finacle’s Bank-in-a-Box Solution (BIAB) was awarded a Judges’ Special Achievement Award. The award, presented at the Grosvenor House Hotel in London on 6th November, reinforces Finacle’s leadership position in the core banking space.

The Banking Technology Awards, now in its ninth year, reflects excellence across a range of IT activities in banking and financial services. The awards received entries from across the Europe, Middle East & Africa region. For a second year in a row, Banking Technology has given its readers the power to vote for the best systems across several product areas in the financial sector. Its readers recognised the benefits delivered by Finacle’s core banking solution to banks in meeting the challenges of managing change, competition, compliance and customer demands effectively.

"The standard of entry in the Banking Technology Awards continues to reach new levels, and this year was no exception," said David Bannister, editor of Banking Technology and chairman of the judging panel. "The final shortlist and eventual winners have been through a severe scrutiny by the judges and can be proud of their achievements."

The Banking Technology judging panel praised Finacle’s BIAB project at Bank Sohar, a new start-up bank in Oman, for its record-breaking implementation timeframe and the management of its IT systems. Finacle BIAB has helped Bank Sohar achieve its ambitious growth plans and business objectives of managing its oversubscribing customers, as well as helping it differentiate itself from its competitors.

“We’re very proud of this recognition from Banking Technology as it highlights our leadership in banking technology and our commitment to the banking industry. This award also endorses Finacle’s promise of delivery excellence for banking transformation” said Gopal T N Associate Vice President & Head of Professional Services- Finacle, Infosys Technologies

As a leader in banking transformation, Finacle has a global footprint across 61 countries and has been acknowledged among the leaders in the core banking solution space by top analysts including Gartner, Forrester and Celent. Finacle is also the winner of a series of other awards for its innovation and implementation capabilities, the most notable being The Banker Technology Award and The Asian Banker IT Implementation Award.

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