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Tue 11 May 2004 04:00 AM

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ANB banks on Finacle

The US$1.06 billion Indian software vendor Infosys, has announced signing up the Arab National Bank (ANB) in Saudi Arabia for Finacle. The banking solution will offer web-based corporate cash management, trade finance and retail e-banking services to ANB's customers across its 117 branches and 258 ATMS.

The US$1.06 billion Indian software vendor Infosys, has announced signing up the Arab National Bank (ANB) in Saudi Arabia for Finacle. The banking solution will offer web-based corporate cash management, trade finance and retail e-banking services to ANB's customers across its 117 branches and 258 ATMS.

Arab National Bank, one of the ten commercial banks in Saudi Arabia, to implement Finacle, the universal banking solution from Infosys will power ANB’s web-based initiatives for corporate banking, consumer e-banking and customer alerts, CRM and treasury.

Infosys, which has a business alliance with the Riyadh-based Wareef United for sales, software delivery and support of Finacle in the Kingdom said the companies have a strong focus on the Saudi market for IT solutions and services, especially centered around the kingdom’s large banking sector. To provide on-going support, Infosys has set up a proximity support centre to provide services to firms in the Kingdom using the Finacle system.

“Over the past couple of years, we have made significant investments in localising Finacle as well as building sales and delivery capabilities in Saudi Arabia and West Asia in general,” says N R Narayana Murthy, Infosys Chairman.

ANB is the fifth bank in the Kingdom to select the software. Earlier this year, NCB, the largest bank in the Arab world, deployed the Microsoft .NET-based Finacle eCorporate and eChannels packages. It is the third bank in the Kingdom to sign up for Finacle after Saudi Holandi Bankm, Saudi Investment Bank and Banque Saudi Fransi (BSF), which have deployed the package last year.

“We will continue to focus strongly on the Saudi market, especially in banking where we have already made our mark and focus on providing technology-driven business solutions and services to our clients in the kingdom,” adds Murthy.

The Bangalore-based company recently upgraded its Finacle eCorporate to handle cross border & multi-bank payment capabilities for the European market and to cover payment systems in Europe, the US and Canada.

Girish Vaidya, who heads its Banking Business Unit said,"We have been in rapid client acquisition mode in Saudi Arabia, which we see as one our key markets for Finacle, which powers the e-initiatives of 5 out of 10 banks in the Kingdom."

ANB was established in 1980 as one of the six branches of Arab Bank of Jordan. The Arab Bank, which has been operating in Saudi, for 30 years now, owns 40% of ANB shares.

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