City Saving Bank, Philippines, has chosen Infosys’ Finacle TM core banking solution to power the bank's strategic business transformation initiative. City Saving Bank is a thrift bank operating in the Philippines market for the past 45 years. The bank will replace its legacy system across its 29 branches and leverage Finacle TM core banking solution for its aggressive growth plans.
Built on new generation technologies, open industry standards and services oriented architecture, Finacle TM will provide the bank with a highly scalable technology engine. Finacle Bank-in-a-Box (BIAB), a pre-configured and fully integrated framework, will offer City Saving Bank a rapidly deployable solution that provides knowledge of best banking practices, processes and standards.
Recently, Wema Bank Plc, a mid-sized commercial bank in Nigeria has selected Infosys’ Finacle TM as its banking solution aimed at strengthening its retail banking services over 150 branches in its home market.
Infosys’ profit for the quarter ended June 30, 2011 increased by 15.58% at Rs 1654.00 crore as compared to Rs 1431.00 crore for the corresponding quarter last year. Its total income grew by 22.10% at Rs 7320.00 crore for the quarter under review from Rs 5995.00 crore for the same quarter last year.
