Sun and Infosys Join Forces to Provide a Flexible, New - Generation Technology Platform for Banking Customers Including ICICI Bank
SAN FRANCISCO, Calif., SunNetwork[sm] 2002 Conference and Pavilion - September 19, 2002
Sun Microsystems, Inc. and Infosys Technologies, Ltd., today announced a global strategic alliance to jointly market a powerful new generation technology platform to address end - to - end enterprise banking and transaction intensive network computing requirements in the global banking industry. Leveraging their global reach, best - of - breed technologies and leadership in financial services, Sun and Infosys are poised to lead the way in today's fast - growing enterprise banking environment. Per the agreement, Sun's proven and scalable platforms and technologies will power Infosys' Finacle - Enterprise Banking E - platform, suite of banking products including: Finacle Core Banking, Finacle Treasury, Finacle eChannels, Finacle eCorporate and Finacle CRM.
By combining forces, Sun and Infosys aim to offer banking customers an agile, scalable, proven solution that lowers total cost of ownership and accelerates time to market. Supporting powerful and unique features like 24X7 banking, straight through processing (STP) workflow automation, personalized and consistent multi - channel customer experience and unified customer view, Infosys and Sun are well placed to address the end - to - end requirements of today's banking systems. Sharing Sun's commitment to open - standards, Infosys' Finacle suite will support the Sun ™ Open Net Environment (Sun ™ ONE) platform for delivering services on demand.
"ICICI Bank has been using Infosys' new generation banking solutions and the Sun platform for a long time now. I am pleased to note that Infosys and Sun have forged a global alliance to enhance and market joint solutions. Such an alliance, in our view will help in delivering high performance solutions. We expect to receive a more comprehensive set of solutions to meet the requirements of our IT infrastructure from this partnership," said Mr. K. V. Kamath, managing director and CEO, ICICI Bank.
"We're witnessing a great shift in the financial industry, which is challenging the basic framework of banking and forcing banks to reinvent themselves," said Stuart Wells, senior vice president, Market Development, Sun Microsystems. "Through this alliance with Infosys we're positioned to meet the banking industry's changing needs with open, highly scalable and feature - rich solutions that can expertly handle today's robust, networked applications."
"In an industry that is largely characterized by legacy systems and fragmented non - viable product vendors, Infosys brings unique value propositions based on end - to - end enterprise banking solutions architected on new generation technologies, proven global delivery capability and reduced cost of ownership, " said Girish G Vaidya, senior vice president and head Banking Business Unit, Infosys Technologies Ltd. "Our alliance with Sun, a leader in open enterprise computing platforms, will enable us to seize leadership and market share through a superior technology platform developed to handle the challenges of new age banking."
The Sun and Infosys alliance aims to deliver superior value to mutual clients through joint marketing and technology initiatives including: organizing events, benchmarking, retail banking architecture solutions, optimized high throughput banking solutions and R&D on emerging technologies in the banking space. In addition, mutual clients will be able to test proof - of - concept banking solutions in Sun's iForce (SM) Solution Centers worldwide to achieve decreased costs, lower risk and quicker time to market.
The SunNetwork[sm] Conference and Pavilion is the only conference dedicated to showcasing end - to - end solutions from Sun and its partners that have revolutionized the Internet, networking and computing industries. The SunNetwork Conference will take place September 18 - 20, 2002 at the Moscone Center in San Francisco. Register now at http://sun.com/sunnetwork and be among the first to see a new generation of technologies that make the Net work.
Infosys, a world leader in consulting and information technology services, partners with Global 2000 companies to provide business consulting, systems integration, application development and product engineering services. Through these services, Infosys enables its clients to fully exploit technology for business transformation. Clients leverage Infosys' Global Delivery Model to achieve higher quality, rapid time - to - market and cost - effective solutions. Infosys has over 10,000 employees in over 30 offices worldwide . For more information visit www.infosys.com.
Since its inception in 1982, a singular vision -- "The Network Is The Computer[tm]" -- has propelled Sun Microsystems, Inc. (Nasdaq: SUNW) to its position as a leading provider of industrial - strength hardware, software and services that make the Net work. Sun can be found in more than 170 countries and on the World Wide Web at http://sun.com.
Sun, Sun Microsystems, the Sun logo, iForce and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc., in the United States and other countries.
Certain statements in this release concerning our future growth prospects are forward - looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward - looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed - price, fixed - time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20 - F for the fiscal year ended March 31, 2002 and the Quarter Report on Form 6 - K for the quarter ended June 30, 2002 . These filings are available at www.sec.gov . Infosys may, from time to time, make additional written and oral forward looking statements,including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward - looking statement that may be made from time to time by or on behalf of the company.
For further information, please contact: PR_Global@infosys.com