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Wednesday, April 09, 2008

CWG launches Finacle 10 in Nigeria

ExpertEdge Software and Systems Limited, the software subsidiary of the Computer Warehouse Group (CWG), has announced the launch of Finacle version 10 into the nation’s market.

Group Marketing and Corporate Affairs Manager at CWG, Ms Morenike Popoola said they are excited in introducing the latest version of Finacle banking application in the country, describing it as a highly sophisticated and advanced system that has been built with an investment of over 240,000 days.

She also said that this new version of Finacle would enable banks to transform their multi-country operations through a standard platform and process.

“A set of over 5000 parameters and an enhanced scripting studio will deliver rapid product innovation. The new version also brings with it a whole new set of offerings including Islamic banking, wealth management; and an enhanced mobile banking solution,” she said.

Ms Popoola equally stated in a press statement made available to Champion Infotel that Infosys with its strong focus on banking and financial services sector, is making continuous investments in Finacle.

She quoted a member of the board, Infosys Technologies Ltd, Mr. T.V. MohanDas Pai, as saying that Finacle is core to the firm’s growth strategy.

“We have invested over $60m in the last three years to build a state-of-the-art banking solution,” he asserted, adding that with Finacle version 10, Infosys is geared up to address the key challenges of banking transformation.

He elucidated that the latest version is a technically strong solution with SOA, BPEL-enabled workflow and advanced security and compliance framework delivers significant improvement in productivity and greater readiness to manage security and regulatory challenges.

Business Head, Finacle, Haragopal M, informed that Finacle, version 10 with its powerful multi-country infrastructure and transformational capabilities delivers increased productivity, rapid innovation and a comprehensive set of offerings to meet diverse customer demands.

“Seven Tier-1 and Tier-2 banks around the world have already reposed their trust on Finacle, version 10 to power their domestic and international operations,” he said.

Finacle has been benchmarked severally and has proven capability to handle very large volumes of transactions, just as in Nigeria, Finacle supports more than a million transactions per day in the larger deployments.

Finacle 10 will receive the excellent support provided by the Computer Warehouse Group through her software subsidiary ExpertEdge.

This support made possible by over 40 trained consultants and a 24x7 facility has made a significant difference in the market to Finacle users would inherit the excellent implementation track record provided by Infosys and ExpertEdge in the Nigerian market.

Some of this track record has been maintained through implementations in banks like First Bank, UBA, SpringBank, FCMB, Oceanic Bank, SpringBank, Fidelity Bank and Kakawa Discount House. Prior to consolidation, Finacle had also been successfully implemented in Lion Bank and Assurance Bank.

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