MEDELLIN, Colombia, Nov. 13, 2012 /PRNewswire/ -- Bancolombia, a global financial services leader, announced today that Finacle from Infosys has enabled the bank to operate a seamless platform across Latin America and consolidate operations from across the region into a single, state-of-the-art system.
Using Finacle's universal banking solution from Infosys, Bancolombia can now monitor and interface with all its branches around the clock. This means the bank can get a 360-degree view of all of its clients transactions, including high-net-worth clients who use foreign currencies across multiple subsidiaries. Whether it's a bank in Panama, Puerto Rico, or the Cayman Islands, Bancolombia now operates all back-office functions using one platform.
Finacle also gives Bancolombia a competitive edge by helping it process transactions in real-time. The bank had become accustomed to collecting its transactions and processing them overnight. Bancolombia's ability to enter transactions immediately is critical to decreasing costs as it expands across Latin America.
"Finacle is an across-the-board solution that integrates our regional operations. Because of the technology Finacle delivers, Bancolombia is more nimble than it's ever been," said Carlos R. Yepes, President, Bancolombia. "This flexibility has been key in getting closer to our clients through our subsidiaries, who now feel only a heartbeat away from our organization as a whole."
Supporting multiple languages, Finacle is an effective solution for both Spanish- and English-speaking subsidiaries, and is tailored to accommodate banking requirements in every region Bancolombia operates.
"Finacle gives Bancolombia an enormous competitive edge," said Haragopal Mangipudi, Global Head, Finacle, Infosys. "Bancolombia can now get new products to market within days and they're able to clear payments and loans immediately because of straight-through processing. Finacle centralizes all of the bank's vital functions into one, easy-to-operate platform."
Infosys partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys 19th among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals. Visit www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow's Enterprise® today.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarters ended September 30, 2011, December 31, 2011 and June 30, 2012.These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
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