September 3, 2008

Israel Discount Bank Selects Infoys Finacle E-Banking Solution

Infosys Technologies, a global technology services firm, has announced that Israel Discount Bank has selected its Finacle e-banking solution.

According to Infosys, Finacle e-banking will enable the bank to leverage internet and mobile channels towards accelerating the growth of its corporate/SME and retail banking business. Finacle e-banking solution will form a key component of the bank's portalisation strategy and will be offered as a portal-enabled solution on IBM technology.

Israel Discount Bank's (IDB's) new business strategy to leapfrog competition in the e-banking arena triggered the modernization of its technology platform. The bank planned to use the e-banking platform to launch products and to provide enhanced customer service through the internet and mobile channels. Towards this end, the bank needed faster time-to-market for launching new features and products for its SME and retail banking operations, previously managed on software applications developed in-house. Infosys is expected to partner with Israeli technology services firm, Taldor for the implementation of the e-banking platform.

Infosys claims that Finacle e-banking solution leverages the latest technological development providing a richer and convenient user experience to the bank's customers. Leveraging a proprietary context aware real-time transaction mobile middleware, the solution provides a user interface on each hand-held device and would enable the bank to offer mobile banking services in the local market. IDB corporate, retail and SME customers will be able to make enquiries and transactions through internet and mobile banking, which also includes making payments to beneficiaries and third party service providers.

Sanat Rao, vice president and head of worldwide sales for Finacle at Infosys Technologies, said: "This win is a significant breakthrough for Finacle as it further consolidates our position in the fast growing EMEA region. We are delighted to partner with a progressive bank like IDB which aims to establish a position of leadership in Israel."