Turkland Bank, Turkey Selects Finacle(TM) From Infosys to Drive InnovationBy Infosys Technologies Limited, PRNE
Monday, July 19, 2010
BANGALORE, India, ISTANBUL, LONDON and LOS ANGELES, July 20, 2010 - Infosys Technologies Ltd. (Infosys), a world leader in
consulting and information technology services and Turkland Bank (T-Bank)
today announced that T-Bank, a successful niche bank in Turkey, has selected
Finacle(TM), the universal banking solution from Infosys, to strengthen
operations across the home country. Infosys will implement Finacle(TM) core
banking, CRM, e-banking and treasury solutions at T-Bank to drive the bank's
objectives of product innovation, client-centricity and scalability for
T-Bank offers a wide range of corporate, private and retail
banking services to Turkey's extensive small and medium size enterprises. To
fulfill its aggressive growth objective, the bank intends to leverage global
banking practices on a new age technology platform to gain a competitive
According to Dincer Alpman, Chief Executive Officer, T-Bank,
"Our bank is pleased to have selected Finacle from Infosys, a globally well
acclaimed and rich core banking product. We are also confident that this
project will help Infosys build a much stronger presence and clientele in the
Turkish market." Ilhan Zeki Koroglu, Chief Operations & Information Officer,
T-Bank said, "Our bank aims to accelerate product and channel innovation and
streamline operations for future growth. Finacle's state-of-the-art solution
and Infosys's excellent delivery track record were the key factors in this
selection. We are confident that this partnership will provide our customers
with a differentiated, world-class experience."
T-Bank went through a detailed selection process for its
'Project Future' where the top global vendors were invited to participate.
Cedar Consulting, a leading management consulting firm, had managed this
comprehensive evaluation process. According to V. Ramkumar, Global Head-
Business Technology Practice, Cedar Management Consulting, "The system
selection was focused to deliver on the strategic objectives of the bank and
included evaluation across global solutions. This project will lead to one of
the first full fledged core banking replacements in Turkey, making it a
landmark in Turkey's banking industry."
With this success, Finacle continues its strong progress in
the Turkish banking industry. Sanat Rao, Vice President and Worldwide Head
Business Development and Alliances - Finacle, said, "We are delighted to
partner with an innovative and growth-oriented institution like T-Bank. We
are strongly committed to ensuring that T-Bank attains its twin business
strategies of innovation and operational efficiency. Turkish banks have long
harnessed the power of innovation to fuel future growth and Turkey is a
strategically important country for Finacle."
As a leader in banking transformation, Finacle(TM) has a
global footprint across 65 countries and has been acknowledged among leaders
in the core banking solution space by top analysts including Gartner and
Forrester. Finacle(TM) has also been recognized through industry awards for
its innovation and implementation capabilities, the most notable ones being
The Banker Technology Award, The Asian Banker IT Implementation Award and The
Banking Technology Judge's Special Award for "Innovative Use of IT".
T-Bank owes its rapid growth and high performance achieved in
the last three years to the strength and support of its shareholders. Arab
Bank and BankMed, who own 50% and 41% respectively, have created a synergy
that proved to be valuable for both T-Bank and its clients. T-Banks benefits
from the well-developed correspondent banking network of its majority
shareholders in the MENA region, which enables the bank to further expand the
scope of its services; while concurrently fostering sound relationships with
leading global banks.
Specializing in the commercial business sector with a growing
focus on small and medium-sized enterprises (SMEs) banking services, T-Bank
is one of the fastest growing niche banks in the SME sector. The
implementation of T-Bank's growth strategy in the SME market has been greatly
facilitated by the expansion of branch network to 27 locations and the
corresponding increase in employees; currently at 500.
The bank also offers a comprehensive range of services to suit
the banking needs of a diverse customer base; including treasury, cash
management, investment, and trade finance. Personal banking services are also
available for the managers and shareholders of T-Bank's corporate clients and
affluent customers alike.
With a paid in capital of YTL 170 million, T-Bank is one of
the most adequately capitalized banks in the sector.
About Finacle(TM) 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 solution 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
About Infosys Technologies Ltd.
Infosys (NASDAQ: INFY) defines, designs and delivers
IT-enabled business solutions that help Global 2000 companies win in a Flat
World. These solutions focus on providing strategic differentiation and
operational superiority to clients. With Infosys, clients are assured of a
transparent business partner, world-class processes, speed of execution and
the power to stretch their IT budget by leveraging the Global Delivery Model
that Infosys pioneered. Infosys has over 113,000 employees in over 50 offices
worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For
more information, visit www.infosys.com.
Infosys Safe Harbor
Statements in connection with this release concerning our
future growth prospects are forward-looking statements within the meaning of
U.S. Securities laws intended to qualify for the "safe harbor" under the
Private Securities Litigation Reform Act. These forward-looking statements
are subject to risks and uncertainties including those described in our SEC
filings available at www.sec.gov, including our Annual Report on Form 20-F
for the year ended March 31, 2010, and our other recent filings, and actual
results may differ materially from those projected by forward-looking
statements. We may make additional written and oral forward-looking
statements but do not undertake, and disclaim any obligation, to update them.
About Cedar Management Consulting (Cedar)
Cedar is a global management consulting firm. With over 20
years of experience, Cedar has assisted more than 800 clients across industry
sectors in the formulation of their strategy for the growth and
transformation of their business. Winner of the 2010, BME Industry Award for
The Best Advisory Firm, the company's heritage in the Balanced Scorecard has
enabled rapid implementation of strategy across their customer, process,
organizational and business technology framework. Headquartered in the US,
Cedar has a network of offices in 15 locations, worldwide. For more
information, please visit www.cedar-consulting.com
Press contact: Infosys Press Office - Asia Pacific T-Bank Press Office Sujeet Pramanik Nestere.Dede@tbank.com.tr Infosys Technologies Ltd Corporate Communications Manager Phone: +91-80-4105-7551 T-Bank Sujeet_Pramanik@infosys.com +90-212-3683430 Infosys Press Office - EMEA Cedar Management Consulting Antonia Maneta International LLC Infosys Technologies Ltd Priya Badshah Phone: +44(0)207-715-3499 Head - Marketing and Corporate Antonia_Maneta@infosys.com Communication Priya.Badshah@cedar-consulting.com Infosys Press Office - The Americas +9122-61719835 Peter McLaughlin Infosys Technologies Ltd Phone: +1-213-622-4949, Ext 206 Peter_McLaughlin@infosys.com
Infosys Press Office - Asia Pacific: Sujeet Pramanik, Infosys Technologies Ltd, Phone: +91-80-4105-7551, Sujeet_Pramanik at infosys.com; Infosys Press Office - The Americas: Peter McLaughlin, Infosys Technologies Ltd, Phone: +1-213-622-4949, Ext 206, Peter_McLaughlin at infosys.com ; Infosys Press Office - EMEA: Antonia Maneta, Infosys Technologies Ltd, Phone: +44(0)207-715-3499, Antonia_Maneta at infosys.com ; T-Bank Press Office: Nestere.Dede at tbank.com.tr, Corporate Communications Manager, T-Bank, +90-212-3683430; Cedar Management Consulting International LLC: Priya Badshah, Head - Marketing and Corporate Communication, Priya.Badshah at cedar-consulting.com, +9122-61719835
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