Bangalore November 19, 2003
Infosys announced today that Ernakulam District Co-operative Bank, one of the leading co-operative banks in Kerala, has selected Finacle as its centralized core platform.
This is the 20th bank in the country to opt for Finacle and second win for Finacle among co-operative banks in the country opting for a Centralized Banking solution. With this technology initiative, the bank hopes to consolidate its leadership position in the region and provide its customers with new age products and services.
Expressing his pleasure, Mr. M. M. Monayi, Chairman, Ernakulam District Co-operative Bank said, "Ernakulam District Co-operative Bank is happy to select Finacle from a reputed vendor like Infosys. This is testimony of our commitment to our customers to give them the best of services and products comparable with any top bank in the country. We chose Finacle because it is clearly the lowest risk, option-feature rich, based on new generation technologies and a solution that is proven on the ground with so many Indian banks already running on it. With Finacle, we expect to gain a cutting edge in new-age banking applications and offer e-age delivery channels to our esteemed customers."
According to Mr. Merwin Fernandes, Vice President & Global Head - Sales & Marketing, Banking Business Unit, Infosys Technologies, "We are delighted to welcome Ernakulam District Co-operative Bank to the fast growing Finacle family. For Finacle, this win - 20th in India in a span of less than 3 years since its launch - marks further consolidation of its position as a platform of choice for banks - large and small. Today the most important aspect that really differentiates Finacle in the market is its unblemished implementation track record i.e. our ability to time and again deliver successful implementation within time and cost budgets. It is this aspect, which has made Finacle the de-facto platform of choice for banks in India as well as globally. We are confident that the bank will be able to leverage the power and flexibility of Finacle to launch new products, increase efficiency in operations and gain business agility."
Ernakulam District Co-operative Bank is a profitable, well-managed bank and the largest District co- operative bank in terms of business (loans and advances, deposits) in Kerala with 43 branches. The bank has aggressive plans to offer their data center to other cooperative banks and make the centralization affordable to other cooperative banks.
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 19,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com
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