Infosys won orders from 11 RRBs in past six months

Infosys won orders from 11 RRBs in past six months

New Delhi: IT major Infosys has bagged orders from 11 regional rural banks (RRBs)in the last six months for implementation of its Finacle core banking solution, a senior company official said.

“We have got orders from 11 RRBs for implementation of core banking solution (CBS) between April-September," Finacle, Infosys Technologies Ltd, senior vice-president & global head Haragopal M told PTI.

Infosys’ Finacle division had received a total of 42 orders as of the end of September, 2010, compared to 31 at the end of 2009-10. Thus, nearly 50% of the total number of RRBs are now in the fold of Infosys for the roll-out of CBS. As many as 20 RRBs have already gone live, he said.

As per the RBI’s guideline, all RRBs have to migrate to CBS by September, 2011. At present, there are 86 RRBs in the country.

Talking about the performance of Finacle during the first half-year ended September, 2010, Haragopal said the top-line grew by 38% to $128 million during the review period from $92 million in the same period last fiscal.

During the period, Finacle registered 17 wins and 22 projects went live across the globe. With over 135 clients across 65 countries, Finacle rolled out two new products, including its Mobile Banking 2.0 solution, this fiscal.

“As channel innovation continues to be a strategic priority for progressive banks, mobile banking has truly come of age. Finacle Mobile Banking 2.0 enables banks to create and leverage game-changing opportunities through the mobile channel to build and institutionalise relationships with both customers and new emerging consumer segments," he said.

The solution supports multi-host, multilingual, multi- channel, multi-currency banking. It facilitates interactive financial management encompassing product selection, proximity payments, remote deposit capture, new account opening, ATM/branch locating based on GPS and value-added services like mobile ticketing and mobile top-ups, he added.

Infosys has also launched Finacle Analyz, a comprehensive solution that empowers bank staff to make faster, insight- based decisions to strengthen customer relationships and improve profitability.

The solution enables a holistic customer analysis for banks, with insightful business reports, executive dashboards and rigorous statistical models, he said.

It also helps banks strengthen customer management strategies across the lifecycle, he added.