Infosys bets big on Finacle, invests $60M

Dubai, February 21st, 2008: Infosys today announced the launch of Finacle, version 10 to reinforce its global leadership in banking transformation. The latest version is a highly sophisticated and advanced system that has been built with an investment of over 240,000 person days.

This new version will enable banks to transform their multi-country operations through a standard platform and processes. A set of over 5000 parameters and an enhanced scripting studio will deliver rapid product innovation. The new version also brings with it a whole new set of offerings including Islamic banking, wealth management; direct banking and an enhanced mobile banking solution.

Infosys with its strong focus on Banking & Financial services has been making continuous investments in Finacle. According to Mr. T.V. Mohandas Pai, Member of the board, Infosys Technologies Ltd, "Finacle is core to our growth strategy. We have invested over $60M in the last three years to build a state-of-the-art banking solution. Finacle Banking Solution, integrated with Infosys services like SI, Consulting and BPO will offer global banks a truly differentiated transformation model."

With Finacle, version 10, Infosys is geared up to address the key challenges of banking transformation. A technically strong solution with SOA, BPEL-enabled workflow and advanced security and compliance framework delivers significant improvement in productivity and greater readiness to manage security and regulatory challenges.

According to Mr. Haragopal M, Business Head, Finacle, "Finacle, version 10 with its powerful multi-country infrastructure and transformational capabilities delivers increased productivity, rapid innovation and a comprehensive set of offerings to meet diverse customer demands. Seven Tier-1 and Tier-2 banks around the world have already reposed their trust on Finacle, version 10 to power their domestic and international operations."

As a leader in banking transformation, Finacle has a global footprint across 60 countries and has received recognition from top analysts including Gartner, Forrester and Celent as a leader in core banking solution in the world. Finacle is also winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award and The Asian Banker IT Implementation Award.

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About Finacle Universal Banking Solution
Finacle from Infosys helps banks WIN IN THE FLAT WORLD by providing solutions and services that enable a shift in their strategic and operational priorities. The offerings address the comprehensive technology-led business transformation requirements of retail, corporate and universal banks worldwide by maximizing their opportunities for growth, while minimizing the risks that come with such large scale transformation.

Finacle earned the top slot in the Forrester Wave* on Retail Banking Platforms and was positioned in the Leaders Quadrant in the Gartner Magic Quadrant for International Retail Core Banking**.

For more information, visit www.infosys.com/finacle

About Infosys Technologies Ltd.
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over

70,000 employees and operates globally from 21 countries and 56 major cities. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com

*Source: "The Forrester Wave: Retail Banking Platforms, Q4 2006", Forrester Research, Inc., November 2006

**Source: Gartner, Inc. "Magic Quadrant for International Retail Core Banking, 2006" Don Free, 25 January 2007

The Magic Quadrant is copyrighted 25 January 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period.  It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant.  The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Press Contact:
Infosys Press Office - Bangalore
Shashwati Chowdhury
Infosys Technologies Ltd,
Bangalore, India
+91 80 4105 7583
Shashwati_Chowdhury@infosys.com 

Weber Shandwick MENA - Dubai
Jamal Al Mawed/ Patricia Tellis
+9714 321 00 77
jamal.almawed@ws-mena.com or patricia.tellis@ws-mena.com

© Press Release 2008