Infosys Finacle momentum accelerates in Europe with a strategic breakthrough in CEE

Infosys Technologies Ltd has announced that the only large domestic bank in Croatia, Hrvatska Postanska (HPB), has selected Finacle Universal Banking Solution from the Company to drive its technology-led transformation initiative. Finacle core banking solution will replace the bank’s legacy system and help strengthen the bank's competitive position by enabling innovation, greater process efficiencies as well as by meeting the new regulatory requirements, Including Basel II. HPB will also deploy the Finacle e-banking and treasury solutions.

Earlier the bank was using decentralized in-house legacy system which lacked a unified view and seamless real time integration capabilities. The system did not facilitate easy and quick launching of new products and services which is one of the crucial points of success in today's competitive banking environment.

Commenting on the win, Merwin Fernandes, VP & Business Head Finacle, of the Company said, "This win is a significant breakthrough for Finacle into Croatian and CEE market and further consolidates our position in the fast growing Central and Eastern European region. We are delighted to partner with a bank like HPB which is aiming to take on bigger competition in the Croatian market. We are confident that with Finacle at the core of the business transformation, HPB would be able to achieve its objectives of greater operational efficiency, innovation and competitive superiority."

Finacle is a global player in the packaged banking solutions space, with a customer base across 53 countries. The solution has a strong presence in Europe, Asia-Pacific, Middle East and Africa. Finacle differentiates itself through its new generation technology architecture and its strong implementation record.

Source : Equity Bulls

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