With Finacle, the back office processes of the bank’s treasury operations are now automated, significantly improving its operational efficiency and reducing manual effort. Importantly, the solution opens up new opportunities of commission revenue for Bank One, by empowering users to diversify their investments in various treasury products and maximize their returns.
Prior to implementing the Finacle solution, all treasury operations at the bank were done manually. Combined with Bank One’s existing Finacle core banking solution, the new treasury solution will enable straight-through processing, resulting in real-time access to trading information and faster processing of deal transactions.
The new treasury solution from Finacle will enable:
• Centralized monitoring of the bank’s global currency position, with automated Nostro reconciliation and accurate assessment of value at risk;
• Effective management of market and credit risk using Finacle Treasury’s risk module and built-in limits and exposure-tracking features;
• Seamless integration with Bank One’s deal platform, enabling efficient capture of information directly from external trading platforms;
• Compliance with stringent information technology and data security requirements by addressing the bank’s full spectrum of regulatory and internal audit needs;
• Personalized portfolio management for customers with over 100 content-rich and incisive report formats, thereby enhancing customer satisfaction levels.
Raj Dussoye, Director and Chief Executive Officer, Bank One:
"As a leading bank in Mauritius, it is our endeavour to consistently enhance our ability to address customer requirements and provide the highest level of service. We believe leveraging cutting-edge technology is the best way to achieve this. Equally important is our ability to meet all regulatory requirements, especially on limits. Given our positive experience with the Finacle core banking solution, Finacle Treasury was a logical choice to help us achieve our objectives."
Venkatramana Gosavi, Regional Head, Growth Markets Finacle, Infosys:
"Finacle Treasury is the most reliable solution for seamless treasury management, key for banks to maximize liquidity and mitigate operational and financial risk. Following the success of the Finacle core banking solution with Bank One, we are confident Finacle Treasury will further support the bank to achieve its goal of becoming one of the most efficient, customer friendly and profitable banking organizations in Mauritius."
About Bank One
Bank One focuses on customer needs and on building long-lasting relationships with its customers. It caters both for domestic and international markets, and provides financial solutions to all segments retail, corporate as well as private. These include transactional and deposit accounts, personal finance, trade finance, corporate finance and capital market services as well as a host of unique banking services. Bank One operates with sixteen branches throughout Mauritius, has a well distributed network of ATMs and a fully-operational internet banking platform. Its endeavor is to bring a sharper focus to the requirements of customers and to leverage cutting-edge technology to provide the highest levels of service.
Infosys (infosys.com) is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
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, 2013 and on Form 6-K for the quarter ended Sept 30, 2013. These filings are available at 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 unless it is required by law.
Paul de Lara, Infosys, UK
P: +44(0)20 7516 2748 - E: Paul_deLara[.]infosys.com.
Ken Montgomery, GolinHarris, USA
P: +1 415-318-4399 - E: kmontgomery[.]golinharris.com.