Sun Microsystems and Infosys Announce Strategic Global Alliance to Deliver Powerful Banking Solutions
Sun and Infosys Join Forces to Provide a Flexible, New - Generation Technology Platform for Banking Customers Including ICICI Bank
SAN FRANCISCO, Calif., SunNetwork[sm] 2002 Conference and Pavilion - September 19, 2002: Sun Microsystems, Inc. and Infosys Technologies, Ltd., today announced a global strategic alliance to jointly market a powerful new generation technology platform to address end - to - end enterprise banking and transaction intensive network computing requirements in the global banking industry. Leveraging their global reach, best - of - breed technologies and leadership in financial services, Sun and Infosys are poised to lead the way in today's fast - growing enterprise banking environment. Per the agreement, Sun's proven and scalable platforms and technologies will power Infosys' Finacle - Enterprise Banking E - platform, suite of banking products including: Finacle Core Banking, Finacle Treasury, Finacle eChannels, Finacle eCorporate and Finacle CRM.
By combining forces, Sun and Infosys aim to offer banking customers an agile, scalable, proven solution that lowers total cost of ownership and accelerates time to market. Supporting powerful and unique features like 24X7 banking, straight through processing (STP) workflow automation, personalized and consistent multi - channel customer experience and unified customer view, Infosys and Sun are well placed to address the end - to - end requirements of today's banking systems. Sharing Sun's commitment to open - standards, Infosys' Finacle suite will support the Sun TM Open Net Environment (Sun TM ONE) platform for delivering services on demand.
"ICICI Bank has been using Infosys' new generation banking solutions and the Sun platform for a long time now. I am pleased to note that Infosys and Sun have forged a global alliance to enhance and market joint solutions. Such an alliance, in our view will help in delivering high performance solutions. We expect to receive a more comprehensive set of solutions to meet the requirements of our IT infrastructure from this partnership," said Mr. K. V. Kamath, managing director and CEO, ICICI Bank.
"We're witnessing a great shift in the financial industry, which is challenging the basic framework of banking and forcing banks to reinvent themselves," said Stuart Wells, senior vice president, Market Development, Sun Microsystems. "Through this alliance with Infosys we're positioned to meet the banking industry's changing needs with open, highly scalable and feature - rich solutions that can expertly handle today's robust, networked applications."
"In an industry that is largely characterized by legacy systems and fragmented non - viable product vendors, Infosys brings unique value propositions based on end - to - end enterprise banking solutions architected on new generation technologies, proven global delivery capability and reduced cost of ownership, " said Girish G Vaidya, senior vice president and head Banking Business Unit, Infosys Technologies Ltd. "Our alliance with Sun, a leader in open enterprise computing platforms, will enable us to seize leadership and market share through a superior technology platform developed to handle the challenges of new age banking."
The Sun and Infosys alliance aims to deliver superior value to mutual clients through joint marketing and technology initiatives including: organizing events, benchmarking, retail banking architecture solutions, optimized high throughput banking solutions and R&D on emerging technologies in the banking space. In addition, mutual clients will be able to test proof - of - concept banking solutions in Sun's iForce (SM) Solution Centers worldwide to achieve decreased costs, lower risk and quicker time to market.