Monterrey, Mexico - October 25, 2012
Banca Mifel, one of Mexico’s leading banks, and Infosys, a global leader in consulting and technology, today announced the successful implementation of the Finacle universal banking solution. The bank is using Finacle to maximize straight-through processing and accelerate automation of operations across its delivery channels and 47 branches. The implementation is part of a broader business transformation underway at Banca Mifel to improve operational efficiency and customer service while overcoming the challenges posed by a legacy system.
The Finacle universal banking solution represents a comprehensive technology transformation for the bank. The enhanced solution was crucial in helping Banca Mifel reinforce its reputation as a provider of quality service in the highly competitive Latin American market. By delivering end-to-end core banking and a complete e-banking solution, Finacle allows the bank to get a unified view of its customer relationships. Additionally, Finacle helps the bank meet regulatory requirements and security compliance standards.
According to Daniel Becker, General Director, Banca Mifel, “In this turbulent market, technology is a key driver in helping us meet our goal of being an efficient- and service-oriented bank. With Finacle core banking and e-banking solutions, we are confident that we will be able to provide better and faster service to our customers. We look forward to using robust and scalable solutions from Infosys to help us open additional branches, increase our customer base and grow market share.”
Haragopal Mangipudi, Global Head - Finacle, Infosys said: “Our partnership with Banca Mifel shows our strong commitment to the Latin American market. This implementation breaks new ground in Mexico for Finacle as the first integrated, end-to-end, core implementation – complete with Internet Banking. Finacle provides an extended range of products and services and faster customer support.”
Finacle from Infosys partners with banks to transform the customer experience, arming them with a host of innovations. Today Finacle is the choice of 165 banks across 80 countries, powering operations across 49,000 branches.
Infosys partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys 19 among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals. Visit www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow's Enterprise® today.
On July 29th of 1993, Banca Mifel obtained a concession for one of the first banking licenses granted after the banking system was nationalized. In 2012, the bank added nine new offices reaching a total of 47. Over the past three years, this network has grown 65% achieving its goals with a steadily accelerated growth rate. We have a presence in Mexico City and the Metropolitan Area, Metepec, Cuernavaca, Monterrey and most recently, in Guadalajara. In order to meet the agricultural sector financing needs, Mifel Banking has 18 modules specialized in agribusiness at national level.
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, 2012 and on Form 6-K for the quarter ended September 30, 2011, December 31, 2011 and June 30, 2012.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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