Finacle(TM) Powers Transformation at Hatton National Bank
Poster: SySAdmin
Posted on August 5, 2010 at 5:35:01 AM
Finacle(TM) Powers Transformation at Hatton National Bank
BANGALORE, India and COLOMBO, Sri Lanka, August 5, 2010--
- Bank Standardizes Operations on Finacle(TM) for Greater Agility
and Customer Centric Growth
Infosys Technologies Ltd. (Infosys) and Hatton National Bank
Plc (HNB) today announced the successful implementation of Finacle(TM)
universal banking solution across HNB's operations in Sri Lanka. Infosys has
implemented Finacle(TM) core banking, treasury and consumer e-banking
solutions across 191 customer centres of the bank. HNB now operates its
entire banking operations on Finacle(TM) to support over 2.8 million
customers.
Hatton National Bank, which recently celebrated 120 years of
service in Sri Lanka, has been a pioneer in the nation's banking industry. In
accordance with its mandate, the bank wanted to focus its future expansion
and offerings for growth sectors in the country. Financially enabling the
society has been a key objective for the bank as well. HNB management decided
to take a technology-led transformation route to make the bank more agile,
flexible, and scalable to achieve its business objectives. In 2007, HNB
decided to move to Finacle(TM) and the core banking replacement project was
successfully completed in eleven months.
R. Theagarajah, Managing Director and Chief Executive Officer,
Hatton National Bank, said, "Advanced core banking technology is vital to
achieving our business growth objectives and improve customer service. We
selected Finacle for its global leadership, committed investment in research
and development in core banking and unmatched delivery track record. Finacle
has provided higher scalability and flexibility to service our diversified
retail, institutional and corporate clientele. Our new back office platform
provides greater agility by consolidating disparate systems and reduced
turnaround times, enables innovation to launch new offerings, and empowers
staff to radically improve our customer service."
According to Haragopal Mangipudi, Global Head - Finacle,
Infosys Technologies Ltd, "We are delighted to power success at Hatton
National Bank in their journey of technology-led business transformation. We
are committed to partnering the bank in achieving its business objectives and
establishing new standards of excellence in the banking industry. The
resounding success of this initiative will go a long way in Hatton National
Bank gaining leadership in the region. South Asia has been a core growth
engine for Finacle and we continue our focus to bring business relevant
offerings and services to banks in the region."
Leveraging Finacle(TM), the bank has been able to seamlessly
integrate its services across channels and provide innovative products to
customers with faster turn-around time and reduced total cost of ownership.
Centralization of all back-office functions on the platform has ensured more
control over business processes and significant improvement in branch
productivity. Integration with all 320 ATMs and 4618 other POS along with
streamlining of channels has further enriched the customer experience. The
centralized platform across the bank enabled by Finacle(TM) provides a
unified customer view which has resulted in significant improvement in
service levels and customer experience. A unified flexible core banking
platform enables the bank to introduce sophisticated product offerings with
a shorter time-to-market.
Further, Finacle(TM) treasury solution has enabled the
introduction of more sophisticated products and instruments for the bank's
treasury operations. The application has improved monitoring and control by
effectively segregating front, middle and back office operations and tracking
transaction / dealer profitability.
Finacle(TM) has a global footprint across 65 countries and has
been acknowledged to be among the leaders in the core banking solution space
by top analysts. Finacle(TM) has also been recognized through industry awards
for its innovation and implementation capabilities, the most notable ones
being The Banker Technology Award, The Asian Banker IT Implementation Award
and The Banking Technology Judge's Special Award for "Innovative Use of IT."
As the local business partner of Infosys, MillenniumESP, the
enterprise and service provider group of MillenniumIT, played an integral
part in the Finacle implementation at HNB. MillenniumESP, with their
experience in other local implementation of Finacle and in-depth
understanding of local banking practices were able to provide specialist
skills to support the implementation. The MillenniumESP team also provided
post go-live support to the bank ensuring that the bank's business activities
were uninterrupted. MillenniumIT also assisted in successfully implementing a
fully fledged, state-of-the-art Datacenter & Information systems
infrastructure, the foundation of the back office platform at HNB.
About HNB
Hatton National Bank (HNB) is a premier private sector
commercial bank with a network of 191 customer centres spread across the
length and breadth of Sri Lanka. The Banks history dates back to 1888 where
it started as Hatton Bank to help the fledgling tea industry. Today the bank
is actively involved in retail banking, corporate banking, international
banking, treasury, project financing, working capital financing etc. HNB is
considered a leader in the retail banking business with an extensive range of
products and services on offer and is the only commercial bank in Sri Lanka
to develop a sustainable microfinance strategy over the last two decades. The
Hatton National Bank has been awarded by the Asian Banker Magazine as the
"Best Retail Bank in Sri Lanka" for its performance in 2007, 2008 and 2009
and as the Strongest Bank in Sri Lanka for 2010. HNB was also named as the
"Best Bank in Sri Lanka" by the Euromoney Magazine in 2009 and 2010.
About Finacle(TM) Universal Banking Solution
Finacle from Infosys partners with banks to power-up their
innovation agenda, enabling them to differentiate their products and service,
enhance customer experience and achieve greater operational efficiency. This
proven and effective... framework for multi-disciplinary change, enables
banks to shift their strategic and operational priorities.
Finacle solutions address the core banking, e-banking, Islamic banking,
treasury, wealth management and CRM requirements of retail, corporate and
universal banks worldwide. Several powerful and differentiating features make
Finacle one of the most comprehensive, flexible and scalable universal
banking solution in its class. These solutions, when associated with Finacle
services, empower banks to maximize their opportunities for growth, while
minimizing the risks that come with large-scale business transformation. For
more information, visit http://www.infosys.com/finacle
About Infosys Technologies Ltd.
Infosys (NASDAQ: INFY) defines, designs and delivers
IT-enabled business solutions that help Global 2000 companies win in a Flat
World. These solutions focus on providing strategic differentiation and
operational superiority to clients. With Infosys, clients are assured of a
transparent business partner, world-class processes, speed of execution and
the power to stretch their IT budget by leveraging the Global Delivery Model
that Infosys pioneered. Infosys has over 114,000 employees in over 50 offices
worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For
more information, visit http://www.infosys.com.
Infosys Safe Harbor
Statements in connection with this release including those
concerning our future growth prospects may include forward-looking statements
within the meaning of U.S. Securities laws intended to qualify for the "safe
harbor" under the Private Securities Litigation Reform Act. These
forward-looking statements are subject to risks and uncertainties including
those described in our SEC filings available at http://www.sec.gov, including our
Annual Report on Form 20-F for the year ended March 31, 2010, and our other
recent filings, and actual results may differ materially from those projected
by forward-looking statements. We may make additional written and oral
forward-looking statements but do not undertake, and disclaim any obligation,
to update them.
For more information please contact:
Infosys Press Office - Asia Pacific
Sujeet Pramanik
Infosys Technologies Ltd, India
+91-80-4105-7551
Sujeet_Pramanik@infosys.com
Infosys Press Office - EMEA
Antonia Maneta
Infosys Technologies Ltd, UK
Phone: +44-0-207-715-3499
Antonia_Maneta@infosys.com
Infosys Press Office - The Americas
Peter McLaughlin
Infosys Technologies Ltd, USA
Phone: +1-213-622-4949, Ext 206
Peter_McLaughlin@infosys.com
Hatton National Bank - Sri Lanka
Chammika Weerasinghe
Phone: +94-11-2661970
chammikaw@hnb.lk
Source: Infosys Technologies Ltd
Infosys Press Office - Asia Pacific, Sujeet Pramanik, Infosys Technologies Ltd, India, +91-80-4105-7551, Sujeet_Pramanik@infosys.com, Infosys Press Office - EMEA, Antonia Maneta, Infosys Technologies Ltd, UK, Phone: +44-0-207-715-3499, Antonia_Maneta@infosys.com, Infosys Press Office - The Americas, Peter McLaughlin, Infosys Technologies Ltd, USA, Phone: +1-213-622-4949, Ext 206, Peter_McLaughlin@infosys.com, Hatton National Bank - Sri Lanka, Chammika Weerasinghe, Phone: +94-11-2661970, chammikaw@hnb.lk
BANGALORE, India and COLOMBO, Sri Lanka, August 5, 2010--
- Bank Standardizes Operations on Finacle(TM) for Greater Agility
and Customer Centric Growth
Infosys Technologies Ltd. (Infosys) and Hatton National Bank
Plc (HNB) today announced the successful implementation of Finacle(TM)
universal banking solution across HNB's operations in Sri Lanka. Infosys has
implemented Finacle(TM) core banking, treasury and consumer e-banking
solutions across 191 customer centres of the bank. HNB now operates its
entire banking operations on Finacle(TM) to support over 2.8 million
customers.
Hatton National Bank, which recently celebrated 120 years of
service in Sri Lanka, has been a pioneer in the nation's banking industry. In
accordance with its mandate, the bank wanted to focus its future expansion
and offerings for growth sectors in the country. Financially enabling the
society has been a key objective for the bank as well. HNB management decided
to take a technology-led transformation route to make the bank more agile,
flexible, and scalable to achieve its business objectives. In 2007, HNB
decided to move to Finacle(TM) and the core banking replacement project was
successfully completed in eleven months.
R. Theagarajah, Managing Director and Chief Executive Officer,
Hatton National Bank, said, "Advanced core banking technology is vital to
achieving our business growth objectives and improve customer service. We
selected Finacle for its global leadership, committed investment in research
and development in core banking and unmatched delivery track record. Finacle
has provided higher scalability and flexibility to service our diversified
retail, institutional and corporate clientele. Our new back office platform
provides greater agility by consolidating disparate systems and reduced
turnaround times, enables innovation to launch new offerings, and empowers
staff to radically improve our customer service."
According to Haragopal Mangipudi, Global Head - Finacle,
Infosys Technologies Ltd, "We are delighted to power success at Hatton
National Bank in their journey of technology-led business transformation. We
are committed to partnering the bank in achieving its business objectives and
establishing new standards of excellence in the banking industry. The
resounding success of this initiative will go a long way in Hatton National
Bank gaining leadership in the region. South Asia has been a core growth
engine for Finacle and we continue our focus to bring business relevant
offerings and services to banks in the region."
Leveraging Finacle(TM), the bank has been able to seamlessly
integrate its services across channels and provide innovative products to
customers with faster turn-around time and reduced total cost of ownership.
Centralization of all back-office functions on the platform has ensured more
control over business processes and significant improvement in branch
productivity. Integration with all 320 ATMs and 4618 other POS along with
streamlining of channels has further enriched the customer experience. The
centralized platform across the bank enabled by Finacle(TM) provides a
unified customer view which has resulted in significant improvement in
service levels and customer experience. A unified flexible core banking
platform enables the bank to introduce sophisticated product offerings with
a shorter time-to-market.
Further, Finacle(TM) treasury solution has enabled the
introduction of more sophisticated products and instruments for the bank's
treasury operations. The application has improved monitoring and control by
effectively segregating front, middle and back office operations and tracking
transaction / dealer profitability.
Finacle(TM) has a global footprint across 65 countries and has
been acknowledged to be among the leaders in the core banking solution space
by top analysts. Finacle(TM) has also been recognized through industry awards
for its innovation and implementation capabilities, the most notable ones
being The Banker Technology Award, The Asian Banker IT Implementation Award
and The Banking Technology Judge's Special Award for "Innovative Use of IT."
As the local business partner of Infosys, MillenniumESP, the
enterprise and service provider group of MillenniumIT, played an integral
part in the Finacle implementation at HNB. MillenniumESP, with their
experience in other local implementation of Finacle and in-depth
understanding of local banking practices were able to provide specialist
skills to support the implementation. The MillenniumESP team also provided
post go-live support to the bank ensuring that the bank's business activities
were uninterrupted. MillenniumIT also assisted in successfully implementing a
fully fledged, state-of-the-art Datacenter & Information systems
infrastructure, the foundation of the back office platform at HNB.
About HNB
Hatton National Bank (HNB) is a premier private sector
commercial bank with a network of 191 customer centres spread across the
length and breadth of Sri Lanka. The Banks history dates back to 1888 where
it started as Hatton Bank to help the fledgling tea industry. Today the bank
is actively involved in retail banking, corporate banking, international
banking, treasury, project financing, working capital financing etc. HNB is
considered a leader in the retail banking business with an extensive range of
products and services on offer and is the only commercial bank in Sri Lanka
to develop a sustainable microfinance strategy over the last two decades. The
Hatton National Bank has been awarded by the Asian Banker Magazine as the
"Best Retail Bank in Sri Lanka" for its performance in 2007, 2008 and 2009
and as the Strongest Bank in Sri Lanka for 2010. HNB was also named as the
"Best Bank in Sri Lanka" by the Euromoney Magazine in 2009 and 2010.
About Finacle(TM) Universal Banking Solution
Finacle from Infosys partners with banks to power-up their
innovation agenda, enabling them to differentiate their products and service,
enhance customer experience and achieve greater operational efficiency. This
proven and effective... framework for multi-disciplinary change, enables
banks to shift their strategic and operational priorities.
Finacle solutions address the core banking, e-banking, Islamic banking,
treasury, wealth management and CRM requirements of retail, corporate and
universal banks worldwide. Several powerful and differentiating features make
Finacle one of the most comprehensive, flexible and scalable universal
banking solution in its class. These solutions, when associated with Finacle
services, empower banks to maximize their opportunities for growth, while
minimizing the risks that come with large-scale business transformation. For
more information, visit http://www.infosys.com/finacle
About Infosys Technologies Ltd.
Infosys (NASDAQ: INFY) defines, designs and delivers
IT-enabled business solutions that help Global 2000 companies win in a Flat
World. These solutions focus on providing strategic differentiation and
operational superiority to clients. With Infosys, clients are assured of a
transparent business partner, world-class processes, speed of execution and
the power to stretch their IT budget by leveraging the Global Delivery Model
that Infosys pioneered. Infosys has over 114,000 employees in over 50 offices
worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For
more information, visit http://www.infosys.com.
Infosys Safe Harbor
Statements in connection with this release including those
concerning our future growth prospects may include forward-looking statements
within the meaning of U.S. Securities laws intended to qualify for the "safe
harbor" under the Private Securities Litigation Reform Act. These
forward-looking statements are subject to risks and uncertainties including
those described in our SEC filings available at http://www.sec.gov, including our
Annual Report on Form 20-F for the year ended March 31, 2010, and our other
recent filings, and actual results may differ materially from those projected
by forward-looking statements. We may make additional written and oral
forward-looking statements but do not undertake, and disclaim any obligation,
to update them.
For more information please contact:
Infosys Press Office - Asia Pacific
Sujeet Pramanik
Infosys Technologies Ltd, India
+91-80-4105-7551
Sujeet_Pramanik@infosys.com
Infosys Press Office - EMEA
Antonia Maneta
Infosys Technologies Ltd, UK
Phone: +44-0-207-715-3499
Antonia_Maneta@infosys.com
Infosys Press Office - The Americas
Peter McLaughlin
Infosys Technologies Ltd, USA
Phone: +1-213-622-4949, Ext 206
Peter_McLaughlin@infosys.com
Hatton National Bank - Sri Lanka
Chammika Weerasinghe
Phone: +94-11-2661970
chammikaw@hnb.lk
Source: Infosys Technologies Ltd
Infosys Press Office - Asia Pacific, Sujeet Pramanik, Infosys Technologies Ltd, India, +91-80-4105-7551, Sujeet_Pramanik@infosys.com, Infosys Press Office - EMEA, Antonia Maneta, Infosys Technologies Ltd, UK, Phone: +44-0-207-715-3499, Antonia_Maneta@infosys.com, Infosys Press Office - The Americas, Peter McLaughlin, Infosys Technologies Ltd, USA, Phone: +1-213-622-4949, Ext 206, Peter_McLaughlin@infosys.com, Hatton National Bank - Sri Lanka, Chammika Weerasinghe, Phone: +94-11-2661970, chammikaw@hnb.lk