Indian IT giant Infosys recently announced that it had completed the implementation of its "Finacle" universal banking solution across 191 customer centres, encompassing banking, treasury and electronic banking, of Sri Lanka's Hatton National Bank, allowing the supporting of 2.8 million customers.
According to a joint statement made by both parties, in 2007 the bank "decided to move to FinacleTM and the core banking replacement project was successfully completed in eleven months". This programme led to "[centralising] all back-office functions on the platform" and "more control over business processes and significant improvement in branch productivity". Additionally, "[integrating] with all 320 ATMs and 4618 other POS along with streamlining of channels has further enriched the customer experience".
According to the bank's Managing Director/ Chief Executive, R. Theagarajah; “Finacle has provided higher scalability and flexibility to service our diversified retail, institutional and corporate clientele. Our new back office platform provides greater agility by consolidating disparate systems and reduced turnaround times, enables innovation to launch new offerings, and empowers staff to radically improve our customer service”.
Also indicated was that the new solution has "enabled the introduction of more sophisticated products and instruments for the bank’s treasury operations" as well as "improved monitoring and control by effectively segregating front, middle and back office operations and tracking transaction / dealer profitability".
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