Finacle™ to significantly improve customer experience, differentiate offerings and expand client base
Lagos, Bangalore, August 2nd, 2011
Infosys Ltd and Wema Bank Plc today announced that Wema Bank Plc, a mid-sized commercial bank in Nigeria has selected Finacle™ as its banking solution aimed at strengthening its retail banking services over 150 branches in its home market. Infosys will implement Finacle™ core banking, consumer e-banking and treasury solutions at Wema Bank. This will in effect drive the bank’s objective of enhancing productivity and innovation-led customer experience in all its operations.
Leveraging Finacle™, Wema Bank will be empowered to create a differentiated customer experience through personalized offerings, bundled products and an enriched segment-specific portfolio. The solution’s proven scalability and support for true 24X7 multi-channel transactions added to its keen understanding of the banking context in West Africa will power the bank’s ambitious growth plans.
Computer Warehouse Group Nigeria, the local business partner of Infosys for over a decade, will play an integral role in the implementation and go- live support of Finacle solutions at Wema Bank.
According to Olayinka Oni, Divisional Head - Information Technology & Operations, Wema Bank,
"Our clients are our number one priority, and it is essential that we possess the best technology to meet their needs effectively. We are confident that once Finacle™ is implemented, Wema Bank will be able to create value adding customer experience through innovative products, a unified customer view and seamless integration across channels. We are delighted to partner with Finacle™ and Infosys and look forward to a successful transformation journey."
Sanat Rao, Vice President & Global Head, Business Development, Client Engagements and Alliances - Finacle, Infosys Ltd, said, "We are delighted to partner with Wema Bank and are strongly committed to ensuring it makes rapid progress on its path to achieving improved customer-centricity. Finacle™ has 25 customer banks in Africa with 11 of them in Nigeria itself. West Africa continues to be a strategically important market for Finacle and as the preferred banking technology providers in Africa we have consistently delivered solutions that help banks hurdle challenges typical of the region."
Established in 1945, Wema Bank has grown in strength consistently over 66 years in the Nigerian market with strong footprints in the South West, Lagos and the Federal Capital Territory, Abuja. Wema Bank operates out of over 150 branches supported by 143 ATMs and other e-banking solutions.
For more information visit www.wemabank.com
Computer Warehouse Group (CWG) is one of the fastest growing information and communication technology companies across Africa today. CWG offer integrated ICT solutions that add value to the operations of diverse clientele, using highly skilled and well motivated workforce. We work with best-in-class partners and technologies from all over the world. CWG was founded on February 1, 2005 to provide coordinating functions and shared services for three divisions - CWL Systems, DCC Networks and ExpertEdge Software.
DCC Networks began operations in August 1991 as providers of VSAT, Metropolitan, Wide Area and Local Area Networks to corporate organisations. In September of the same year, CWL Systems was incorporated to undertake hardware projects. Based on existing demands in the area of software solutions, systems and training, another company, ExpertEdge Software was incorporated in October 1993. Today, these three divisions function under the umbrella of the Computer Warehouse Group. The Group has evolved into an IT powerhouse with a focus on enabling businesses through strategic partnerships with world class organisations such as Infosys, DELL, and Oracle amongst others. CWG has indeed grown over the years, establishing regional offices in West and East Africa; CWG Ghana Limited (2003) and CWG Uganda (2010) respectively handling the business interest of these regions. We are fast becoming a Pan African ICT Solutions brand with plans for presence in at least 5 African countries by 2015.
CWG’s Vision & Mission Statements
Our vision is to become the number 1 IT Utility provider in Africa by the year 2015, while our mission is to deploy world class ICT Solutions enabling businesses and driven by innovative people and processes and working with best-in-class partners and technologies. We are well on our way to achieving these two key measures of our business. In recent times, we have redirected our operations and transformed from a provider of IT services to a trusted advisor to our customers. We have built trust through consistency and dependability. This strategic effort has earned us new businesses through referrals from satisfied clients.
Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This framework for multi-disciplinary change, enables banks to shift their strategic and operational priorities.
Finacle solutions address the core banking, e-banking, mobile banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide. Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solution in its class. These solutions, when associated with Finacle services, empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation. For more information, visit www.infosys.com/finacle
Many of the world’s most successful organizations rely on the 133,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow’s enterprise.For more information about Infosys (NASDAQ: INFY), visit www.infosys.com
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, fluctuations in foreign exchange rates, 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, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, 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 or expiration of governmental fiscal incentives, political instability and regional conflicts, 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, 2011 and on Form 6-K for the quarters ended June 30, 2010, September 30, 2010 and December 31, 2010.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
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