Infosys Technologies implements Finacle at Hrvatska Postanska Banka d.d. (HPB)

Infosys Technologies Ltd has announced that Finacle from the Company and Hrvatska Postanska Banka d.d. (HPB) on May 21, 2007 have announced that Finacle e-Banking solution has gone live at HPB in Croatia. The solution, which went live in a remarkably short turnaround time, will accelerate the growth of HPB's retail banking business and enhance its customer relationships across the country.

With Finacle e-banking solution being available in Croatian language and the payment module configured to Croatian law, HPB customers will be able to make enquiries and transactions in the local language through internet banking, which also include making payments to beneficiaries such as tax authorities and utility service providers.

Till recently, HPB, the largest state-owned bank in Croatia, serviced its clientele through postal offices and its branch network. With intent to target a younger, technology savvy customer base linked to its overall objective of providing a broader spectrum of retail banking services, HPB saw cutting edge internet banking offering as a key business imperative.

The bank wanted to maintain its competitive edge in the market and ensure that it adapted to changing customer requirements using the most innovative solutions available in the marketplace. After a comprehensive evaluation, HPB chose Finacle Universal Banking Solution to drive its technology-led transformation initiative. The immediate priority for the bank was internet banking. Following a rapid implementation of Finacle e-banking solution in less than six months, HPB is now able to provide its customers with a wide range of internet services.

According to Haragopal M, Vice President & Global Head, Professional Services - Finacle, Infosys, "We are delighted to see Finacle e-banking successfully powering the aggressive retail banking focus at HPB. The region continues to be a key focus area for Infosys and we look forward to working closely with the bank as they expand their business rapidly and leverage technology to stay ahead in the market."

The bank is expected to achieve another key milestone in its technology-led transformation journey when Finacle core banking solution is scheduled to go live later this year in October. Finacle core banking would be deployed in a phased manner at HPB as per the business priorities. By November 2007, key modules of Finacle core banking would be deployed across the branch network of HPB enabling the bank to offer innovative banking products and services efficiently. Further, the Company would strengthen the treasury operations of the bank with the planned deployment of Finacle treasury solution by the end of 2007.

Finacle is a global player in the banking solutions space, with a customer base spread across 54 countries. The solution has a strong presence in Europe, Asia-Pacific, Middle East and Africa. Finacle differentiates itself through its new generation technology architecture and its strong implementation track record.

Finacle core banking solution has recently received recognition from top analysts including Gartner, Forrester and Celent Gartner, Inc. has positioned Finacle in the Leader Quadrant in the recently released '2006 International Retail Core Banking Magic Quadrant’ report while Forrester featured Finacle as a leader in the Forrester Wave report - Retail Banking Platforms Q4 2006 (Nov 2006).

Source : Equity Bulls

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