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DUBAI — Emirates Bank and Infosys Technologies yesterday announced that they have entered into a strategic partnership to implement Finacle Universal Banking Solution as the new core-banking platform for the banking group.
The new system will be implemented across Emirates Bank International, its branches in Saudi Arabia, the UK and Emirates Islamic Bank.
Abdulla Qassem, General Manager, Group Information Technology and Operations at Emirates Bank, and Merwin Fernandes, Vice-President and Business Head, Finacle, signed the contract during a special ceremony attended by Ahmed Humaid Al Tayer, Chairman, Emirates Bank and Nandan Nilekani, Co-Chairman, Infosys Technologies Ltd.
Al Tayer said Emirates Bank, which is is celebrating its 30th anniversary, has established its leadership position in the regional financial services industry, and with this strategic project, the bank will be able to reinforce this position with even more innovative products and higher standards in customer service. "This is a long standing strategic relationship with world's leading technology company and we are encouraged by the thought, leadership and commitment of Infosys Senior Management."
Finacle was selected after a comprehensive assessment of leading global solutions by a senior management team from different business functions at Emirates Bank.
Nilekani said Finacle is an area of strategic focus for Infosys. "We have made continuous investments in the business towards attaining market leadership. Finacle combined with the comprehensive services offering form the Infosys offers a truly differentiating proposition for banks to win in the flat world. This partnership with Emirates bank is a testimony to Finacle's effective value proposition. We are committed to the success of this strategic engagement."
"Middle East is an important region for Finacle. To support the growing business traction, focused investments have been made to align our solutions to the requirements of banking sector in the region. Arabisation of the solution as well as development of the Islamic banking offering is an example of this. We look forward to working with Emirates Bank to power their transformation initiative" said Merwin Fernandes.
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