Infosys Finacle Gets A New Look

Bangalore | Updated: Sep 28 2004, 05:30am hrs
Finacle, the banking solution from Infosys, has adopted a new look complete with a brand new logo. Our research said that the new look will have better impact for all markets, explained Girish Vaidya, senior vice-president and business head-Finacle, Infosys Technologies Ltd.

However, analysts say that Finacle, which is facing tough competition from i-flexs Flexcube product in international markets, has embarked on the exercise to be able to look and feel more global.

The Infosys name itself is identified mostly with services, they said adding, The new branding may be a plan to help the company differentiate Finacle as a product.

In the last couple of months, the company has also been promoting Finacle on a standalone basis, rather than as part of Infosys. Mr Vaidya denied that there was any move to get Finacle out of the Infosys shadow as some speculations said. Infosys is great parentage for us, he said.

Finacle enjoys around 70 per cent marketshare within the country. Some of its large customers include banks like Union Bank of India, Punjab National Bank, Oriental Bank of Commerce, Vijaya Bank, ICICI Bank, UTI and IDBI, who have adopted Finacle as core banking solution. Some of the international banks include ABN Amro-UAE, Arab National Bank, Thai Exim bank, and Union Bank of Phillipines.

In the international markets however, Flexcube, the product from competitor i-flex has 185 installations. Currently Infosys banking division operates out of 39 countries in South Asia, South East Asia, Middle East, Africa, Europe and Latin America. With the new brand, the company might look at other international locations.

The Finacle solution addresses the core banking, e-banking, treasury, wealth management, CRM, and cash management requirements of universal, retail, corporate, community and private banks worldwide.

With over $1 billion as revenues, Infosys has about 36 per cent of its revenues coming from the banking and financial services industry and has a strategic focus on this key industry segment.