2011 BAI-Finacle Global Banking Innovation Award Winners Announced

Awards Salute Excellence in Product, Service and Business Model Innovation

CHICAGO - October 11, 2011

BAI and FinacleTM from Infosys announced today the winners in a prestigious new global awards program to recognize and support innovation in the retail banking industry. The winners received the 2011 BAI - Finacle Global Banking Innovation Awards at a special ceremony today at BAI Retail Delivery 2011 in Chicago, Illinois.

The winning retail banks were chosen from around the world for their breakthrough innovation that positively impacts customers and organizational profitability. The winners were selected by the Innovation Circle Judging Panel, an objective, third-party board. This distinguished group is composed of prominent industry academics, consultants and retail banking professionals from around the world.

  • UBank, located in Australia, was announced as the award winner in Product Innovation for their UHomeLoan product, which provides a simple, user-friendly mortgage product that enables customers to control their mortgage application or refinancing process from start to finish.
  • ASB Bank, located in New Zealand, was announced as the award winner in Service Innovation for the ASB Virtual Branch on Facebook. This is an application that allows real-time, secure and private one-to-one conversations with ASB banking specialists online, building even stronger relationships with customers while providing excellent service through their channel of choice.
  • The Disruptive Innovation in Banking Award was won by Citibank, USA for its Smart Banking branch that is centered around customers, built for the way they live and designed for them to control through innovative and interactive technology.
  • The Most Innovative Bank of the Year Award was awarded to "la Caixa" Spain, in recognition of its culture of innovation and its ongoing commitment to the advancement of retail banking.

Debbie Bianucci, President and CEO of BAI, congratulated the first-ever group of global innovation award winners. “Their creativity and originality can inspire us all. Whether it is a virtual branch on Facebook, or an overall culture and complete commitment to innovation, these retail banks are transforming the industry. We honor these winners for their achievements, and we salute them for their leadership and vision."

According to Haragopal Mangipudi, Global Head - Finacle, Infosys, “Innovation has grown as a priority for banks, and this is supported by increasing investments. Bankers across the globe agree that innovation is the key to driving efficiency, growth and customer loyalty. The finalists and winning banks here today provide a model for doing just that with imagination and originality. We congratulate and commend these winners for their breakthrough approaches in meeting today's crucial banking challenges."

Banks, solutions providers and others wishing to learn more about the 2011 BAI - Finacle Global Banking Innovation Awards and nominations for the 2012 awards, please visit www.baiglobalinnovations.com.


About BAI

BAI is the financial services industry’s partner for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For more than 85 years, BAI has focused on advancing the industry by offering unbiased education and research. BAI’s offerings are as diverse as the industry, and include premier events such as BAI Retail Delivery Conference & Expo, groundbreaking research and performance metrics, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, go to www.BAI.org


About Finacle™ Universal Banking Solution

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 proven and effective framework for multi-disciplinary change enables banks to shift their strategic and operational priorities.

Finacle solutions address the core banking, e-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 solutions 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


About Infosys

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


Safe Harbor

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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