City Saving Bank, Philippines selects Finacle™ Bank-in-a-Box™ to Power Technology-led Growth

Manila, Philippines and Bangalore, India - 9 August 2011

Infosys Ltd and City Saving Bank today announced that City Saving Bank, Philippines, has chosen Finacle™ core banking solution to power the bank’s strategic business transformation initiative. City Saving Bank is a thrift bank operating in the Philippines market for the past 45 years. The bank will replace its legacy system across its 29 branches and leverage Finacle core banking solution for its aggressive growth plans.

Built on new generation technologies, open industry standards and services oriented architecture, Finacle will provide the bank with a highly scalable technology engine. Finacle Bank-in-a-Box (BIAB), a pre-configured and fully integrated framework, will offer City Saving Bank a rapidly deployable solution that provides knowledge of best banking practices, processes and standards.

According to William Paradies, Vice President, City Saving Bank, “A robust technology platform is indispensible for a growth-focused bank. We selected Finacle for its proven global leadership, committed investment in cutting edge technology and unmatched delivery track record. We are confident that our partnership with Finacle will enable us to realise our growth ambitions and deliver for our customers a world-class banking experience.”

Leveraging Finacle, City Saving Bank will also be better positioned to right sell personalised offerings, bundled products and an enriched segment-specific product portfolio to customers. As the local business partner of Infosys, Total Information Management (TIM) Corporation will play an integral part in the implementation of the Finacle solution at City Saving Bank.

Sanat Rao, Vice President & Global Head, Business Development, Client Engagements and Alliances - Finacle said, “We are delighted to partner with City Saving Bank and are strongly committed to ensuring that City Saving Bank attains its twin business objectives of aggressive retail growth and business agility. The Philippines is a focus market for Finacle and we will continue to invest and innovate to accelerate growth and drive efficiencies for our clients in the region.”

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