Asian software giant, Infosys
Technologies Limited in collaboration with the Computer Warehouse
Group (CWG) subsidiary, the ExpertEdge Software and Systems Limited,
has launched the latest version of its Finacle version 10 application
in Lagos.
This, the company said, heralds
the beginning of series of unveiling for Finacle version 10 in the
West African region.
Speaking at the event, the
Associate Vice President and Head, Europe, Middle East and Africa
market for Finacle at Infosys, Mr. Amit Dua, said that the Finacle
version 10 is a universal banking solution brought to the door steps
of banks in the sub-region.
He also said that this
reiterates Finacle’s global leadership in banking transformation, and
noted that seven Tier-1 and 2 banks around the world have already
rested their trust on Finacle 10 as a solution to power their domestic
and international operations.
Dua explained that the new
version would enable banks to transform their multi-country operations
through a standard platform and processes.
According to him, Finacle
version 10 comes with a set of 5000 parameters and an enhanced
scripting studio to deliver rapid product innovation, just as the new
version also brings with it a whole new set of offerings including
Islamic banking, wealth management and an enhanced mobile banking
solution.
"With Finacle 10, Infosys offers
banks in the region an agile, scalable, proven solution that lowers
total cost of ownership and accelerates time to market," Dua said.
He noted that West African banks
are now being challenged with increasingly complex internal and
external environments that require greater business agility, a reduced
cost structure and minimum risk.
"Finacle’s powerful
architectural foundation enables banks to rapidly respond to changing
customer demands and a competitive market landscape. We have invested
over $60 million in the last three years to build a state of the art
banking solution," he disclosed.
Stressing that Infosys strong
commitment towards the West African market, along with strong
alliances for surrounding implementation services, and dangling before
banks a truly differentiated offering.
He pointed out that with the
estimated 278 million mobile phones on the continent, mobile banking
is predicted to grow in a big way in Africa.
"Africa today has an estimated
90 per cent unbanked population and with an estimated 230 million
unbanked households, solutions like mobile banking and financial
inclusion that enable banks to reach out to the unbanked are also
expected to open doors of opportunity for banks in the region," he
said.
He noted that Infosys has had a
long standing partnership with Computer Warehouse Group for the West
Africa market.
Also speaking, the group
Managing Director, CWG, Mr. Austin Okere, said that his firm and
Infosys have worked together in sales and support of banking solutions
for a large number of banks in the country by using CWG world class
integration services and Infosys’ portfolio of banking solutions and
services, thus the two companies help banks to address changing
business and technology cycles as well as assist them in achieving a
unique competitive edge.
He noted that as a leader in
banking transformation, Finacle has a global footprint across 61
countries and has been acknowledged by top analysts including Gartner,
Forrester and Celent among the leaders of the core banking solution
space.
