Equitorial Trust Bank Plc, one of the leading indigenous banks in Nigeria has signed Finacle universal banking application from Infosys Technologies, India to replace their current legacy Globus banking application.
ETB also joins other banks such as Hatton National Bank in Sri Lanka in moving away from the Globus to Temenos upgrade track and pitching tent with Finacle. HNB was an early adopter for T24 but after two years decided to replace T24 with Finacle which went live within six months of implemen-tation.
The selection of Finacle over other applications was for the obvious local 24 X 7 support infrastructures available in Nigeria through Computer Warehouse Group and for strategic business agility which Finacle provides. In addition, the bank's growth potential can only be supported by a robust, stable, and scalable core banking platform such as FINACLE. Finacle has been proven to handle more than 11,000 financial transactions per second. ETB also selected Finacle to support their channel strategy that will see ETB participating aggressively in the ATM, internet banking, mobile banking and other electronic channels.
ETB will be implementing Finacle 10, the latest release of Finacle banking application from Infosys and thus becoming the first Nigerian bank to implement the new Finacle 10.
Finacle 10 is the product of millions of years of man_effort by Infosys culminating in a major upgrade in functionality and performance over the previous versions. Finacle UBS is the award winning Core Banking Software from Infosys Technology, India. Finacle UBS is currently being used by several mega banks in Nigeria including, First Bank of Nigeria Plc, United Bank of Africa Plc, Oceanic Bank International Plc, First City Monument Bank, FinBank, Spring Bank, and others.
Finacle UBS is renowned for its Flexibility, robustness, and stability. it is perhaps the only core banking application in Nigeria developed using SEI_CMM level 5 certified processes and is also COB IT certified for control and security.
Finacle UBS has been designed from the beginning to be easily supported. It uses standard open technologies and also provides tools and techniques for adapting it to the local environment.
Local Technical Support provided by ExpertEdge Software Ltd, a Computer Warehouse Group Subsidiary, has helped tremendously in localizing Finacle for Nigeria environment and assured users of effective support infrastructures available on a 24 X 7 basis.
Finacle UBS is arguable the only core banking application with extensive local support in Nigeria with a large pool of certified Nigerian consultants employed by ExpertEdge. Local support is a critical success factor for any core banking application and an important decision point when choosing a core banking application as recommended by Gartner Group.
Expertedge is the software subsidiary of Computer Warehouse Group, a foremost ICT company comprising three subsidiaries covering each discipline of Information Technology as follows: CWL Systems, DCC Networks and ExpertEdge Software.
Tuesday, May 19, 2009
Hospital asked to pay Rs one cr to Infosys engineer
The Supreme Court on Thursday ordered the Nizam’s Medical Institute of Hyderabad to pay Rs one-crore compensation to a software engineer who suffered permanent disability because of negligence by government-owned institute’s staff.
A bench of Justice B N Agrawal ordered the compensation for Prashanth S Dhananka, an Infosys employee working in Bangalore, who was paralysed waist downwards after a surgery at the institute.
The court increased the compensation to Rs one crore from Rs 15 lakh, which was awarded by the Andhra Pradesh High Court. Dhananka suffered permanent disability, rendering him incapable of all normal chores after the surgery.
A bench of Justice B N Agrawal ordered the compensation for Prashanth S Dhananka, an Infosys employee working in Bangalore, who was paralysed waist downwards after a surgery at the institute.
The court increased the compensation to Rs one crore from Rs 15 lakh, which was awarded by the Andhra Pradesh High Court. Dhananka suffered permanent disability, rendering him incapable of all normal chores after the surgery.
Weatherford drills into global HR with Infosys and Oracle
Infosys and Oracle have completed implementing a global human capital management (HCM) system for oil and gas drilling and production firm Weatherford International. Based on Oracle's PeopleSoft Enterprise, the system is reported to be transforming Weatherford's processes by streamlining its HCM operations and reducing administration costs.
Neal Gillenwater, vice president of HR at Weatherford, says key benefits include consolidation, standardisation and automation of processes across 800 service bases around the world, in one instance resulting in more than $3 million savings.
He also cites the value of instant access to data relating to capabilities of the company's 42,000 employees doing work in more than 100 countries.
"The key to success in this programme was leveraging the operational and global human resources expertise of our HR team, and combining this with the global implementation experience of Infosys," says Gillenwater.
"From defining global processes to engineering and implementing the HCM solution, Infosys has partnered with us to adopt best practices and transform successfully."
He says Weatherford chose Infosys because of its enterprise software expertise, business consulting and technology knowledge. Oracle's PeopleSoft Enterprise HCM solution then came top of the list for its ability to adapt to the variety of local requirements around the world.
Neal Gillenwater, vice president of HR at Weatherford, says key benefits include consolidation, standardisation and automation of processes across 800 service bases around the world, in one instance resulting in more than $3 million savings.
He also cites the value of instant access to data relating to capabilities of the company's 42,000 employees doing work in more than 100 countries.
"The key to success in this programme was leveraging the operational and global human resources expertise of our HR team, and combining this with the global implementation experience of Infosys," says Gillenwater.
"From defining global processes to engineering and implementing the HCM solution, Infosys has partnered with us to adopt best practices and transform successfully."
He says Weatherford chose Infosys because of its enterprise software expertise, business consulting and technology knowledge. Oracle's PeopleSoft Enterprise HCM solution then came top of the list for its ability to adapt to the variety of local requirements around the world.
Infy bags eBiz project from govt
Six-year deal will make IT firm a stronger player in e-governance sector.
Infosys Technologies, India’s second largest software firm, has bagged the prestigious eBiz project of the Department of Industrial Policy and Promotion (DPIP) under the Union Commerce and Industry Ministry.
Highly-placed sources said Infosys has won the six-year contract, following a competitive bidding process that saw participation by TCS, HCL and Wipro, among others.
On being asked, Binod H R, Head of India Business for Infosys Technologies, said: “The project is still not signed and the information is not publicly available. Only after the contract is signed, will we be able to give all information.”
It is understood that after the technical bids for the project were opened in December 2008, Infosys was shortlisted for the project, as were TCS and HCL.
However, both TCS and HCL were disqualified in the final round, as they could not meet certain specific criteria, paving the way for Infosys, which is trying to play a bigger role in the domestic market for e-governance. Presently, TCS is the biggest player in the e-governance sector in India, deriving a little less than 10 per cent of its total revenue from here.
It is understood that as a part of the project, Infosys would develop an eBiz portal which will work as a one-stop shop to provide efficient services to investors, businesses and industries. Among others, the portal will facilitate in registration, filing of forms, returns, payments, request for permissions’ approvals, licences, seeking information and records and tracking of services provided by the projects.
The entire process in which applicants have to get their requests (applications) processed through various departments physically will now be done through this portal, for a fee.
For example, if a company is looking for a pollution certificate, instead of approaching the various departments involved -- environment, forest, commerce or industry, etc -- it would apply online through the eBiz portal. which will process the request, connecting all the stakeholders involved in the back-end, thus providing hassle-free service.
It is understood that while the project does not promise a fixed return to the vendor (Infosys), for every transaction done using the portal, a certain amount will go to the company.
Already five state governments – Delhi, Haryana, Andhra Pradesh, Maharashtra and Tamil Nadu have agreed to participate.
Infosys was not so active in the domestic market until last year, when it announced the formation of a separate business unit to focus on only the domestic market.
So far, it has signed just one e-governance deal, a multi-year contract from the income tax department for establishing back office hubs across four states. In the private sector, the company has about six customers, including Pune-based Thermax. India contributes around 1.3 per cent of Infosys’ total revenues.
The larger part of Infosys’ revenue in India comes from its banking product, Finacle.
Infosys Technologies, India’s second largest software firm, has bagged the prestigious eBiz project of the Department of Industrial Policy and Promotion (DPIP) under the Union Commerce and Industry Ministry.
Highly-placed sources said Infosys has won the six-year contract, following a competitive bidding process that saw participation by TCS, HCL and Wipro, among others.
On being asked, Binod H R, Head of India Business for Infosys Technologies, said: “The project is still not signed and the information is not publicly available. Only after the contract is signed, will we be able to give all information.”
It is understood that after the technical bids for the project were opened in December 2008, Infosys was shortlisted for the project, as were TCS and HCL.
However, both TCS and HCL were disqualified in the final round, as they could not meet certain specific criteria, paving the way for Infosys, which is trying to play a bigger role in the domestic market for e-governance. Presently, TCS is the biggest player in the e-governance sector in India, deriving a little less than 10 per cent of its total revenue from here.
It is understood that as a part of the project, Infosys would develop an eBiz portal which will work as a one-stop shop to provide efficient services to investors, businesses and industries. Among others, the portal will facilitate in registration, filing of forms, returns, payments, request for permissions’ approvals, licences, seeking information and records and tracking of services provided by the projects.
The entire process in which applicants have to get their requests (applications) processed through various departments physically will now be done through this portal, for a fee.
For example, if a company is looking for a pollution certificate, instead of approaching the various departments involved -- environment, forest, commerce or industry, etc -- it would apply online through the eBiz portal. which will process the request, connecting all the stakeholders involved in the back-end, thus providing hassle-free service.
It is understood that while the project does not promise a fixed return to the vendor (Infosys), for every transaction done using the portal, a certain amount will go to the company.
Already five state governments – Delhi, Haryana, Andhra Pradesh, Maharashtra and Tamil Nadu have agreed to participate.
Infosys was not so active in the domestic market until last year, when it announced the formation of a separate business unit to focus on only the domestic market.
So far, it has signed just one e-governance deal, a multi-year contract from the income tax department for establishing back office hubs across four states. In the private sector, the company has about six customers, including Pune-based Thermax. India contributes around 1.3 per cent of Infosys’ total revenues.
The larger part of Infosys’ revenue in India comes from its banking product, Finacle.
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