Tested and Proven Core Banking Platform Enables Banks To Achieve Scalability, Business Agility and Increased Cost - effectiveness -- Based on a Web - based Architecture
SANTA CLARA, Calif. - November 6, 2002
Broadening its footprint in financial services to the retail banking industry, Sun Microsystems, Inc. and Infosys Technologies, Ltd., today unveiled the Retail Banking Reference Architecture, making it easier for banks to respond to customer demand for 24 x 7 web - enabled banking, Straight Through Processing (STP) and a unified channel access to manage their personal financial information. The Retail Banking Reference Architecture has been tested and tuned in the Sun[SM] iForce[SM] Solution Center located in Menlo Park, Calif., and has been documented through implementation and sizing guides to help banks accelerate the delivery of web - based, end - to - end banking solutions; increase operational efficiencies; reduce costs and generate new revenue streams.
"We chose the new generation core banking platform from Infosys and Sun because it is a tested and proven platform that meets our aggressive growth plans and provides us the required business agility to meet the challenges of today's volatile banking environment", said V K Khanna, General Manager, Department of Information Technology, Union Bank of India."We welcome this Reference Architecture initiative by Infosys and Sun."
As banks shift from legacy IT platforms to more modern, flexible and web - enabled platforms, it is critical for them to implement and deploy new banking solutions on time, on budget and with no disruption to their business operations. The Retail Banking Reference Architecture offers a low - risk path for migration needs, offers banks a platform to keep pace with changing customer needs and market dynamics, and creates a competitive differentiation in their products and services. These services can be delivered through various retail delivery channels such as call centers, Automatic Teller Machines (ATMs) and retail kiosks -- as seen in grocery stores and mobile tellers. In addition, the Retail Banking Reference Architecture provides a unified view across channels and enables banks to significantly reduce cycle times and operational costs.
"Many banks today run legacy batch applications on costly mainframes that have limited flexibility to support modern banking solutions," said Steve Campbell, vice president marketing, Enterprise Systems Products Group, Sun Microsystems. "The combined technologies from Sun and Infosys have been tested, tuned and proven to support a web - enabled core banking solution that is cost - effective, and offers tremendous flexibility -- most times not available on legacy IT platforms. In addition, the implementation and sizing guides can help banks eliminate some of the guesswork when deciding what tools are needed in developing web - based applications, resulting in a faster time to market, reduced costs and increased revenue."
"In September, 2002, we announced a strategic global alliance with Sun to deliver powerful next generation banking solutions. Today's announcement of the Retail Banking Reference Architecture is an example of how we work together to provide our mutual customers with the tools needed to seamlessly implement our enterprise banking solutions," said Merwin Fernandes, vice president and head of sales and marketing, Banking Business Unit, Infosys Technologies Ltd. "The Reference Architecture based on Finacle Core Banking from Infosys and Sun Microsystems - Solaris Operating Environment and Oracle, provides banks around the world a powerful and flexible platform to reduce operational costs and enhance efficiencies on one hand, and to achieve and retain business agility on the other through constant product innovation and superior time to market."
Finacle Core Banking is a completely web - based, centralized, multi - lingual and multi - currency new generation core banking solution from Infosys. By leveraging its systems expertise, Sun is able to provide a complete and highly optimized solution for retail banking, including scalable, high performance servers and storage devices, as well as software from the Sun (TM) Open Net Environment (Sun ONE) product portfolio for the development and delivery of web - based applications.
Also Included in the Retail Banking Reference Architecture:
Sun Fire[TM] V880, 4800 and 6800 Servers
Sun StorEdge(TM) T3 Arrays
Sun Ray(TM) Stateless Clients
Solaris(TM) 8 Operating Environment
Sun ONE Web Server
Sun ONE Studio (Forte compilers)
Sun(TM) Cluster 3. 0 Sun StorEdge(TM) Availability Suite
Sun(TM) Management Center 3. 0 Infosys Finacle Core Banking
Platform 6. 2 Oracle 8i RDBMS
VERITAS File System, Volume Manager and Quick I/O
Reference Architectures define the hardware and software components needed to build end - to - end solutions to help meet specific business needs. Each reference architecture has been designed, tested and documented, so customers can reduce the complexity, costs and risks of deploying new technology in their enterprise. Reference Architectures are available now in Sun's iForce[SM] Solution Center in Menlo Park to enable customers to build their own proof of concept solution and customize it for their own IT environment at no additional charge. In addition, Sun Reference Architectures can be configured and integrated on systems at Sun prior to shipping, through the Sun[SM] Customer Ready Systems (CRS) program, further accelerating application deployment. More information can be found by visiting: http://www.sun.com/integration/refarch/index.html.
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 13,000 employees in around 40 offices worldwide. For more information, visit www.infosys.com and www.finacle.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 100 countries and on the World Wide Web at http://www.sun.com
Sun, Sun Microsystems, Sun Fire, Sun ONE, iForce, the Sun logo, Solaris and The Network Is The Computer are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. in the Uni ted States and other countries. Products bearing SPARC trademarks are based upon an architecture developed by Sun Microsystems, Inc.
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