Tetrad Bank of Zimbabwe Selects Infosys Finacle as its Banking Transformation Partner
Tetrad Investment Bank, a leading merchant banking services provider in Zimbabwe, announced that they have chosen Infosys Finacle as their technology partner.
- (1888PressRelease) October 25, 2013 - Bangalore, India, Zimbabwe - Finacle will power Tetrad Bank's Core Banking, Wealth Management, Customer Relationship Management (CRM), Online banking, Mobile Banking and Alerts capabilities in its evolution from a merchant bank to a top-tier commercial bank in the region.
The suite of solutions will enable Tetrad Bank to automate banking operations, expand reach through multiple new channels and launch targeted offerings to retail customers. It will also help the bank scale its services to meet the needs of its growing retail customer base.
Highlights
Tetrad Investment Bank is in the process of converting from a merchant bank to a commercial bank, for which it needed a robust, scalable and future-ready core banking and surround solutions suite. The Finacle solution will enable the bank to broaden its services spectrum and address retail banking needs of its customers.In addition to delivering all-round retail banking capabilities, the solution will seamlessly interface with existing applications in the bank, ensuring no loss of business continuity.
Tetrad Investment Bank's manual processes will be optimized by the straight-through processing (STP) of the solution. It will also enable scalability to meet future growth in customers, transactions and accounts.
Quotes
Tineyi Mawocha, Managing Director, Tetrad Investment Bank:
"As one of the last merchant banks in Zimbabwe, we are now in the process of converting to a commercial bank. We are pleased to have Infosys Finacle as our partner for enabling our banking system. We are confident that this partnership will help us provide convenient and innovative solutions to our customers as well as widen our product range. After a rigorous evaluation of multiple other core banking vendors, Finacle was chosen for its superior features, functionality, flexibility, history of implementation successes in Africa, and reliable after-sales service."
Venkatramana Gosavi, Regional Head, Growth Markets, Infosys Finacle:
Tetrad is our first core banking customer in Zimbabwe and we are committed to supporting the bank's transition to a full services commercial entity to deliver value to its customers. With Finacle, the bank will be able to launch new products and services much faster and provide world-class service to their clients. This partnership is a strong reflection of Finacle's flexibility in catering to the needs of diverse markets and institutions, particularly in the African region."
About Infosys
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 160,000+ employees, is Building Tomorrow's EnterpriseŽ today.
Safe Harbor
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, 2013 and on Form 6-K for the quarter ended June 30, 2013. These filings are available at www.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 unless it is required by law.
For further information please contact:
Asia Pacific
Abhijith Karthikeya D
Infosys, India
Phone: +91 80 41563482
Abhijith_Damodar ( @ ) infosys dot com
EMEA
Paul de Lara
Infosys, UK
Phone: +44 2075162748
Paul_deLara ( @ ) infosys dot com
Americas
Ken Montgomery
GolinHaris, USA
Phone: +1 415.318.4399
KMontgomery ( @ ) GolinHarris dot com
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