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Finacle from Infosys Wins at the Banking Technology Awards 2008

Readers acclaim Finacle in the ‘Best Core Banking Product’ category

London, UK – November 10, 2008: Infosys Technologies today announced that its Finacle Universal Banking Solution featured in two prestigious awards at the Banking Technology Awards 2008. Finacle was ‘Highly Commended’ in the ‘Best Core Banking Product’ category for the Banking Technology Readers’ Choice Award. In addition, Bank Sohar’s (Oman) implementation of Finacle’s Bank-in-a-Box Solution (BIAB) was awarded a Judges’ Special Achievement Award. The award, presented at the Grosvenor House Hotel in London on 6th November, reinforces Finacle’s leadership position in the core banking space.

The Banking Technology Awards, now in its ninth year, reflects excellence across a range of IT activities in banking and financial services. The awards received entries from across the Europe, Middle East & Africa region. For a second year in a row, Banking Technology has given its readers the power to vote for the best systems across several product areas in the financial sector. Its readers recognised the benefits delivered by Finacle’s core banking solution to banks in meeting the challenges of managing change, competition, compliance and customer demands effectively.

"The standard of entry in the Banking Technology Awards continues to reach new levels, and this year was no exception," said David Bannister, editor of Banking Technology and chairman of the judging panel. "The final shortlist and eventual winners have been through a severe scrutiny by the judges and can be proud of their achievements."

The Banking Technology judging panel praised Finacle’s BIAB project at Bank Sohar, a new start-up bank in Oman, for its record-breaking implementation timeframe and the management of its IT systems. Finacle BIAB has helped Bank Sohar achieve its ambitious growth plans and business objectives of managing its oversubscribing customers, as well as helping it differentiate itself from its competitors.

“We’re very proud of this recognition from Banking Technology as it highlights our leadership in banking technology and our commitment to the banking industry. This award also endorses Finacle’s promise of delivery excellence for banking transformation” said Gopal T N Associate Vice President & Head of Professional Services- Finacle, Infosys Technologies.

As a leader in banking transformation, Finacle has a global footprint across 61 countries and has been acknowledged among the leaders in the core banking solution space by top analysts including Gartner, Forrester and Celent. Finacle is also the winner of a series of other awards for its innovation and implementation capabilities, the most notable being The Banker Technology Award and The Asian Banker IT Implementation Award.


About Finacle Universal Banking Solution

Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging technology. The solution addresses the core banking, e-banking, treasury, and wealth management and CRM requirements of retail, corporate and universal banks worldwide. Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable solutions in its class. For more information, visit www.infosys.com/finacle Opens in a new window.


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 80,000 employees in over 39 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com Opens in a new window.


Infosys Technologies Ltd - Safe Harbor

Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov Opens in a new window including our Annual Report on Form 20-F for the year ended March 31 2007 and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.


Press Contact

For further information, please contact:

Infosys Press Office - Asia Pacific
Joya Ahluwalia
Infosys Technologies Ltd, India
+9180 41057527
Joya_Ahluwalia@infosys.com

Infosys Press Office - London
Shamima Begum
GolinHarris
London, UK
+44 (0) 207 067 0469

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