Infosys advances as Robinsons Bank of Philippines opts for Infosys Finacle

20 May 2013

Infosys is currently trading at Rs 2376.00, up by 25.20 points or 1.07% from its previous closing of Rs 2350.80 on the BSE.

The scrip opened at Rs. 2336.25 and has touched a high and low of Rs. 2382.20 and Rs. 2336.25 respectively. So far 70680 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3010.00 on 07-Mar-2013 and a 52 week low of Rs. 2101.65 on 26-Jul-2012.

Last one week high and low of the scrip stood at Rs. 2372.00 and Rs. 2315.35 respectively. The current market cap of the company is Rs. 136648.11 crore.

The promoters holding in the company stood at 16.04 % while Institutions and Non-Institutions held 58.03% and 13.59% respectively.

Infosys, a global consulting and technology company, has been selected by Robinsons Bank, a growing commercial bank in the Philippines, whereby the latter has selected Infosys Finacle as its transformation partner to support its branch network expansion and business growth. With the new technology transformation program, Robinsons Bank will consolidate and connect the multiple existing systems in use at the bank, and aim to reduce cost of operations across all its branches.

Robinsons Bank plans to expand its network to over 100 branches in three years and integrate recent acquisitions. This requires its technology infrastructure to scale efficiently and cost effectively, the bank chose Finacle core banking and treasury solutions to modernize its technology infrastructure and support its growth agenda, without inflating total cost of ownership, Finacle will address key challenges including the need for effective localization of the solution and offer best-in-class user support while bringing down the high cost of implementation and hardware upgrades and Finacle will also help Robinsons Bank to deepen relationships with customers through innovative new products and services.

Infosys provides business consulting, technology; engineering and outsourcing services to help clients in over 30 countries to build tomorrow's enterprise.

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