Infosys implements Finacle for Export Development Bank of Egypt

18 Nov 2011 Evaluate

Infosys, the country’s second-largest software exporter has implemented Finacle for Export Development Bank of Egypt (EDBE). In over 20 branches across the country it has implemented Finacle core banking, treasury and CRM solutions. 

The EDBE’s 70,000 accounts will now operate entirely on Finacle. Implementation of Finacle will help EDBE to reduce its turnaround time and centralize operations across branches. Core system replacement is one of the top priorities for banks all over the world, driven by the inadequacy of current systems to provide a platform for growth.

The company’s net profit for the quarter under review rose by 11.03% at Rs 1822.00 crore as compared to Rs 1641.00 crore for the quarter ended September 30, 2010. Its total income has increased by 17.68% to Rs 7853.00 crore for the quarter under review from Rs 6673.00 crore for the similar quarter of the previous year.

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