Finacle Powers Transformation at Aspis Bank, Greece

BANGALORE, INDIA: Finacle from Infosys and Aspis Bank have announced that Aspis Bank, Greece is live on Finacle Universal Banking Solution. While the core banking solution went live in the last quarter of 2007, the treasury solution has been operational at the bank since September 2005. The state-of-the-art solution that has gone live across 83 branches has enabled the bank to embark on its ambitious business transformation strategy aimed at aggressive growth and rapid differentiation. Post implementation, the bank has seen the launch of 7 new products in a short span of 12 weeks, almost 40 percent increase in average transactions/day and a three fold increase in ATM charges.

Leveraging Finacle, the bank is now empowered to create a differentiated customer experience through innovative product offerings, unified customer view and seamless integration across channels for greater customer convenience. Finacle has also enabled the bank to achieve greater efficiency in workflows, manage operational risks, and increase fee-based income.

George Dayantis, General Manager- Operations and IT, Aspis Bank, comments “We were single-mindedly focused on a radical makeover of our legacy technology infrastructure. This new core banking application from Finacle will support the bank’s aggressive business plans and act as an enabler to achieve its future growth plans and new business initiatives. With the help of this solution we are already thinking about new and innovative product launches like never before while continuing to provide a highly personalized customer experience for which ASPIS has been well recognized in the Greek banking market."

Haragopal M, Vice President and Business Head – Finacle, Infosys Technologies said, “We are delighted to see Finacle powering the business transformation at Aspis Bank. Greece, Cyprus and the Balkans constitute a strategic market for Infosys and we are looking to enable banks in this region to become more competitive and customer focused by leveraging technology. We look forward to closely working with Aspis Bank helping them further harness the capabilities of Finacle.”

Finacle is built on new generation technologies, open industry standards and a services oriented architecture. It has effectively replaced the bank’s legacy systems and provided the bank with a future proof technology platform that promises the flexibility of STP (Straight Through Processing) for channel transactions, agility to respond to business needs, true scalability and reduced total cost of ownership.

Finacle customer base spans across 60 countries. Finacle solutions have been recently recognized by top analysts including Gartner, Forrester and Celent. Finacle earned the top slot in the Forrester Wave on Retail Banking Platforms and was also positioned in the Leaders Quadrant in the Gartner Magic Quadrant for International Retail Core Banking.

The Magic Quadrant is copyrighted 25 January 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.