Zurich Banking to replace core legacy systems with Finacle across UK, Ireland and the Isle of Man
Enables standardisation of processes through new generation universal banking solution
London/Bangalore August 8, 2006: Infosys Technologies (NASDAQ:INFY) today announced that Zurich Financial Services, one of the leading financial services organisations in Europe, is implementing Finacle Universal Banking Solution. The Zurich Banking Business Unit is replacing its existing legacy systems with Finacle core banking and CRM solutions and standardising its processes and systems across its three banking brands - Zurich Bank, Dunbar Bank and Zurich Bank International.
Zurich Banking is the latest in a series of client wins that Infosys has announced recently. In the last 12 months seven banks across EMEA have chosen to replace their legacy platforms with Finacle to remove complexities and reduce costs.
Finacle will provide Zurich Banking with a powerful new generation technology platform to enable it to expand its business further by attracting new customers and maximising cross-selling and up-selling opportunities with existing clients. Through the platform's multi-entity, multi-currency capabilities and the ability to define and track SLAs, the new platform is expected to deliver significantly improved customer service across all three banks. Zurich Banking will also be able to reduce costs considerably through improved process efficiency, reduced duplication and straight-through-processing as well as faster time to market for new products.
Andy Deller, CEO Dunbar Bank, said, "We have chosen Finacle because we believe that it offers a new generation platform and the lowest risk to us in this strategic initiative. We are delighted to partner with Infosys and look forward to growing our customer base and enhance our productivity leveraging Finacle."
Merwin Fernandes, Vice President and Business Head- Finacle, Infosys Technologies said, "As we continue to rapidly increase our customer base across the world, and specifically in Europe, the choice of Finacle by Zurich Banking is a testimony to the unique value proposition delivered by Infosys and Finacle; a value proposition that enables banks to seize new opportunities while minimising their risks. Zurich Financial Services is a premier name in the European Financial Services industry and we are proud their banks have chosen to replace their legacy core application with the new-generation, flexible, scalable and service oriented Finacle Universal Banking Solution."