Infosys' Finacle bags 20 RRB deals

By siliconindia   |   Monday, 25 January 2010, 14:46 IST   |    6 Comments
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Infosys' Finacle bags 20 RRB deals
New Delhi: Infosys' Finacle banking solutions, has received orders from 20 Regional Rural Banks (RRBs) for implementation of Core Banking Solution (CBS). Currently, there are 86 RRBs in the country out of which three banks have become 100 percent CBS, reports PTI. "We have signed 20 deals for implementation of core banking solutions in regional rural banks (RRBs) and we are in talks with other such banks," Infosys Technologies (Finacle) Head Haragopal M told PTI. More orders are likely to come as all the RRBs have to migrate to CBS by September 2011, the deadline set by the RBI. Two of Union Bank of India's sponsored Rewa Siddhi Gramin Bank and Kashi Gomti Samyut Gramin Bank and Punjab National Bank sponsored Haryana Gramin Bank is fully CBS. Talking about the solution, Haragopal said that Finacle core banking solution for RRBs is a comprehensive, integrated yet modular business solution that effectively addresses their strategic and operational challenges. He added that it is future-proof solution and can be seamlessly integrated with other enterprise applications. With a robust architecture and proven scalability, it ensures protection for the institution's technology investments.