Emirates Bank to adopt Finacle

BANGALORE, INDIA: Infosys Technologies Ltd has signed a contract with Emirates Bank to deploy its Finacle universal banking solution across its branches in Saudi Arabia, Britain and in Emirates Islamic Bank.

According to a company statement here late Monday, the contract was signed by Emirates Bank general manager Abdulla Qassem and Finacle vice-president Merwin Fernandes in the presence of bank chairman Ahmed Humaid Al Tayer and Infosys co-chairman Nandan M. Nilekani in Dubai earlier in the day.  

The bank has selected Finacle as the core-banking platform after evaluating leading global solutions. The IT bellwether's flagship product will enable the bank to consolidate its operations across various platforms.

'Finacle provides a differentiating proposition for banks with comprehensive services to win in the flat world,' Nilekani said on the occasion.

The product will be implemented first in the bank's offices and branches in the UAE and extend it in other countries in phases. Emirates Islamic Bank will, however, use the Finacle Islamic banking version, the statement added.