IndusInd Bank selects Finacle for core banking transformation

Finacle is core banking solution of Infosys Technologies

PTI | April 26, 2011



IndusInd Bank today announced that it has selected Finacle core banking solution version 10 of Infosys Technologies, for its core banking transformation.

"We are confident that Finacle will help significantly scale up our customer base and branch footprint besides improving productivity," IndusInd Bank's Managing Director and CEO, Romesh Sobti told reporters here.

Finacle, built on new generation technology, will enable IndusInd Bank to accelerate innovation and stay ahead of emerging customer demands, Sobti said.

The Bank believes in driving its business through technology. The bank will make significant investment over the period of next five years in this technology, Sobti said, adding that the bank has no plans to raise funds in the near future.

Commenting on growth plans, Sobti said that the bank plans to increase its branch network from the present 300 branches to 750 branches and expects to double its customers base to four million by 2014.

As the first step in the transformation journey, IndusInd Bank has already successfully implemented Finacle e-banking solution to facilitate the delivery of state-of-the-art banking services online and enhance customer experience, IndusInd Bank's COO, Paul Abraham said.
 

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