BBVA and Finacle from Infosys Sign a Strategic Global Partnership
Francisco González, BBVA Chairman & CEO, and Nandan Nilekani, Infosys Technologies Co-Chairman, emphasize the importance of this agreement for the development of the transformation and innovation plan in the bank
Madrid, Bangalore, London, May 28th, 2008: BBVA and Infosys Technologies today announced that BBVA, one of the top 15 banks in the world, will implement Finacle Universal Banking Solution. The bank, which has signed a global agreement with Finacle, will start the transformation exercise in BBVA Banco (Paraguay) by leveraging Finacle's agile new generation technology. BBVA will implement Finacle core banking, CRM, treasury and wealth management solutions.
Technology rejuvenation is at the forefront of BBVA's business strategy. In 2007, BBVA began an innovation and transformation journey to fuel growth and expand current offerings. As a strategic imperative, the bank decided to replace legacy solutions with a leading world-class banking solution. The rigorous selection process focused on acquiring a new generation platform to support the bank's crucial objectives on client-centricity, growth and time-to-market for business related changes.
BBVA evaluated several leading technology solutions and finally chose Finacle Universal Banking Solution from Infosys. Leveraging Finacle, the bank plans to create a differentiated customer experience through innovative products to support aggressive growth and bankarization plans. With the transformation and innovation plan launched in 2007, BBVA also aims to further improve cost efficiencies and productivity.
Mr. Francisco Gonzalez, Chairman and CEO, BBVA said, "Our aim is to transform BBVA to a winning player in the global banking industry of the 21st century. We need to think different approaches to customers, and IT is a key element in our innovative business model. BBVA is strongly committed to its innovation and transformation plan, and the partnership with Infosys and Finacle is a big step in that way. We like to work with the best partners and Infosys is a very strong global partner".
Mr. Nandan Nilekani, Co-Chairman, Infosys Technologies Ltd. said, "We are delighted to partner with BBVA for this strategic project. This partnership has once again reinforced Finacle's global leadership and its superior value proposition to large banks around the world. Finacle combined with the comprehensive services offering from Infosys will offer a truly differentiating proposition to BBVA to achieve their global transformation objective."
BBVA has established its leadership position in the worldwide financial services industry, and with this strategic initiative, the bank will be able to reinforce this position with faster innovation, robust scalability and more responsive service to our customers.
According to Haragopal M, Business Head - Finacle, Infosys Technologies Ltd, "The faith reposed by BBVA in Finacle reiterates our position as the leading solution for large tier banks across the world. We look forward to helping the bank achieve its strategic objectives of globalization, innovation, and standardization of technology platform across the world."
As a leader in banking transformation, Finacle has a global footprint across 60 countries and has been acknowledged by top analysts including Gartner, Forrester and Celent among the leaders in the core banking solution space. Finacle is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award and The Asian Banker IT Implementation Award.