26 June 2007
Dubai: Infosys Technologies yesterday signed a strategic partnership with Dubai-based Emirates Bank Group (EBG) to implement Finacle Universal Banking Solution as the new core-banking platform for the banking group.
The new system will be implemented across Emirates Bank International, its branches in Saudi Arabia, United Kingdom and Emirates Islamic Bank.
"With this strategic project, the bank will be able to reinforce this position with even more innovative products and higher standards in customer service. This is a long standing strategic relationship with world's leading technology company," said Ahmad Humaid Al Tayer, chairman of Emirates Bank Group.
Emirates Bank selected Finacle after a comprehensive assessment of leading global solutions by a senior management team from different business functions.
"Finacle is an area of strategic focus for Infosys. We have made continuous investments in the business towards attaining market leadership," said Nandan Nilekani, Co-Chairman, Infosys Technologies.
Finacle roll out will enable the bank to consolidate its technology and operations across various platforms. The implementation programme for the new system is expected to start immediately.
"Replacing core banking is a major transformation for us, and we look forward to a successful and smooth transition to one of world's best banking platforms," said Abdullah Qassem, General Manager, Group IT&Operations.
After signing the deal with EBG, Nilekani told Gulf News that the Middle East is fast emerging as a very important growth market from Infosys. "Middle East is an important region for Finacle. To support the growing business traction, focused investments have been made to align our solutions to the requirements of banking sector in the region. Arabisation of the solution as well as development of the Islamic banking offering is an example of this," said Merwin Fernandes, vice-president and Business Head, Finacle.
By Babu Das Augustine
Gulf News 2007. All rights reserved.
