Bangalore, India - March 03, 2004
Infosys Technologies Ltd. , Export - Import Bank of Thailand (EXIM Bank) and Yip In Tsoi & Co. Ltd, Thailand, today announced that they have signed a strategic partnership to revamp the Bank’s core technology platform with Finacle™ , the universal banking solution from Infosys. Under the agreement, EXIM Bank will deploy Finacle across retail and corporate banking, trade finance and treasury operations of the bank.
EXIM Bank aims to be amongst the top Corporate Banks in the country, leveraging new - generation cutting edge technology to derive benefits through innovation and product differentiation, and retain and expand its business and customer base. Finacle is at the heart of this technology driven business transformation strategy of the Bank. On this occasion, Mr. Sataporn Jinachitra, President, EXIM Bank said,” EXIM Bank clearly views this as a strategic initiative to address the bank’s new business requirements, respond to market changes, enhance its customer experience and empower its employees. After a thorough evaluation of several global solutions, we chose Finacle for its unmatched flexibility and rich functionality. What really differentiated Infosys was its proven and consistent implementation track record. We believe that Finacle provides us the right tools to achieve our business objectives and to enhance our image as the dependable ally to Thai exporters.”
Commenting on this, Merwin Fernandes, Vice President and Global Head - Sales and Marketing, Infosys’ Banking Business Unit, said, “We are delighted and excited with this partnership with EXIM Bank. This is a very important milestone in our journey in the ASEAN market and marks our entry into a new, highly potential and competitive Thai market. We view this region as a strategic focus area for our banking solutions and are making significant investments in the product and delivery capability for the region. We believe that Finacle will provide a unique business value to EXIM Bank to achieve its vision. We are also confident that this strategic breakthrough will accelerate our market penetration in Thailand as well as the region as a whole.”
Export - Import Bank of Thailand is a financial institution wholly owned by the Royal Thai Government under the Ministry of Finance’s supervision. EXIM Bank was established by the Export - Import Bank of Thailand Act B. E. 2536 (1993) which became effective on 7 September 1993 with initial capital of 2,500 million baht. Following rapid business expansion, the Bank’s capital was increased with the Ministry of Finance’s additional contribution of 2,500 million baht and 1,500 million baht in April and July 1998, respectively. EXIM Bank officially started its operation on February 17, 1994. The bank’s key objective is to provide financial services to strengthen the competitive edge of Thai businesses in the Global marketplace. The bank aims to support the export of goods and services from Thailand, facilitate imports or investments, which enhance the country’s export and help promote overseas investments to expand Thailand’s commercial bases.
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 21,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com
Yip In Tsoi & Co Ltd is one the leading information technology services companies in Thailand. The company offers end to end IT solutions across industries in Thailand with Banking and Financial services being a key focus area for the company. The company has been partnering with key global solutions providers in order to service the Thai market with cutting edge IT solution. For more information you can visit www.Yipintsoi.com
Certain statements in this release related to the Offering constitute forward - looking statements. This Offering is subject to shareholder approval, which may not be obtained. Although the Offering is expected to be made to our equity holders in India, we may be required to exclude certain equity holders outside India to comply with U. S. rules and regulations. Our business is subject to a number of risks and uncertainties that could affect our future operating results including those 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, 2004 and on Form 6 - K for the quarter ended June 30, 2004 and September 30, 2004. 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 statements that may be made from time to time by or on behalf of the company.
For further information, please contact: PR_Global@infosys.com