Smoother African progress


There was a subsequent win in late 2001 at First Bank of Nigeria, which claimed to be the largest bank in western Africa. Once more, the deal included ITMS 2000. Finacle was taken as one part of a project called Century 2 which was intended to transform the bank. Accenture was actively involved in this. To a large degree, the bank decided to adapt its processes to match those of Finacle. Consolidating Infosys’ Nigerian stronghold in early 2002 came two start-up deals, from Almond Bank and Time Trust Bank. Given their status, both had small branch networks. However, both were looking to grow rapidly, as had been the case with Infosys’ existing customers in this country. First Atlantic Bank had grown from three branches to 15, Oceanic Bank had gone from eleven to 40, and Standard Trust Bank from 60 to 80. The rush of new banks in the country was partly inspired by deregulation at the start of 2001, which allowed existing institutions such as discount houses to move into broad banking. Infosys’ overall intention is that the customers handle the bulk of the implementations so that they can become self- sufficient. For instance, First Bank of Nigeria contributed 40 to 50 people to its project, compared with four from Infosys. Similarly, the project at Standard Trust Bank involved 22 bank staff and four Infosys staff. There is a ‘rapid implementation methodology’ and data conversion tools. At Standard Trust Bank it was supposedly the case that not one line of code


Developments and sales progress


On the product development front, Fernandes said that Infosys was adding support to Finacle for direct sales agents, with this portion to be dubbed Finacle DSA. It would include facilities such as performance tracking and commissions management. The supplier was also adding workflow support at the front-end for loan authorisation and other customer-facing tasks. This is rules-based and supports multiple delivery channels. There was a flurry of activity around mid-2002. On the sales


front, Infosys gained its second big Indian public bank order. This was from Union Bank of India. It came via a joint bid involving Infosys and fellow Indian company, Wipro Infotech. As well as Finacle, the bank signed for Infosys’ channel delivery offering and, sourced from two Chennai-based suppliers, an ATM switch


and a telephone banking platform. The total IT investment by the bank was put at Rs 150 crore. Wipro headed the project and was responsible for the implementation and integration of the applications as well as the underlying IT infrastructure. Union Bank was seeking an all-embracing solution so this


necessitated the consortium approach. It was the first time that Infosys and Wipro had worked together, although the two companies subsequently started to co-operate on other bids. Sun was also part of the successful consortium. The main competition was from the TCS/FNS combination and IBM working with I-flex Solutions. It is believed that Compaq with Sanchez did not make the second round of the evaluation, and that Bancs made the shortlist. V K Khanna, general manager


Universal Banking Systems Market Report | www.ibsintelligence.com 193


was changed, despite the fact that this was the first taker of the system in Nigeria. The tendency to mould the bank to the system helps to speed up the implementation, so too the often low level of automation prior to the arrival of Finacle. The supplier had ambitious goals. In its ‘consolidated


markets’ of Asia and Africa it was looking to dominate, said associate vice president for global sales and marketing, Merwin Fernandes. ‘Dominance’ meant gaining at least 40 per cent of all new deals. In fact, in its domestic market, it seemed to be well ahead of this figure. In its ‘growth markets’ of the Middle East and Asia Pacific, Infosys was aiming for 25 per cent of new deals. Latin America and Europe were defined as ‘entry markets’. In order to address the African markets, Infosys appointed


Comparex Africa during April 2004 for distributing Finacle in South Africa, Namibia, Swaziland, Mozambique, Lesotho and Malawi. Comparex would also provide post-sales support to Finacle customers in these countries. In March 2017, Housing Bank Algeria announced the


selection of Infosys Finacle core banking solution across its branches in Algeria. The bank additionally selected the Trade Finance, Internet banking and Islamic banking suites as well.


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