ING Belgium, one of Belgium’s leading banks, announced today that it has selected Finacle™ universal banking solution to transform its core banking software. Finacle will power multiple lines of the bank’s business including savings and current accounts, deposits and loans. With this transformation, ING will modernize services for its growing customer base in Belgium, deliver operational efficiencies, bring products to market faster and improve customer experience.
• Finacle™ will transform ING Belgium's existing legacy systems to provide future ready technology which can be customized to meet the bank's on-going operational, product and regulatory requirements;
• The Finacle™ core banking solution with its service oriented architecture, industry standard business process flows, unique extensibility framework and proven scalability for Tier 1 banks is ranked as a global leader by industry analysts;
• A common customer view across all products and relationships will enable ING to deliver improved service levels and help the bank meet various regulatory requirements. ING will be able to develop and deliver modern, innovative products to its customers, whilst it's employees will benefit from streamlined operations and improved productivity;
• Finacle™ was chosen by ING following a highly competitive tender process. Factors contributing to Finacle™ selection included its strong product lineage, sustained R&D investment, experience and success in large-scale transformations and its unique ability to be a single source for services such as process change consulting, system integration and independent testing.
Frank Stockx, Chief Information Officer, ING Belgium, commented: "For many years now, we have seen a standardization and globalization of the back-office processes. The current solutions have grown up and are mature enough to integrate our banking IT environment. Working with Finacle gives us more flexibility and lets us concentrate our forces on the customer needs, which is part of our strategy to become the first universal direct bank."
Sanat Rao, Vice President and Global Head Client Services, Finacle, Infosys said: "Our relationship with ING is a further endorsement of Finacle's success in partnering with world class banks embarking on transformation projects with underlying complexities of a modular phased replacement of legacy systems alongside associated organizational change. With this partnership we are delighted to have expanded our European footprint in the BeNeLux market. We are confident that the enhanced core banking platform from Finacle will ensure ING becomes increasingly efficient, competitive and innovative across their operations."
About ING Belgium
ING Belgium SA/NV services all banking customers with a wide range of financial products and via the distribution channel (click, call & face) of their choice. ING Belgium SA/NV employs 9.845 persons (December 2011) and is a full subsidiary of ING Group N.V. which services 67 million private, corporate end institutional clients in more than 40 countries in Europe, North America, Latin America, Asia and Australia.
About Finacle™ Universal Banking Solution
Finacle from Infosys (infosys.com/finacle) 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 solutions 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.
Many of the world’s most successful organizations rely on the 145,000 people of Infosys to deliver measurable business value. Infosys (infosys.com) provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow’s enterprise.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarter ended September 30, 2011 and December 31, 2011.These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Bank Press Office
Alexandre Pluvinage, ING Belgium
T: +32 2 547.25.90 - E: pressoffice[.]ing.be.