Centurion Bank Of Punjab Deploys Finacle

by CXOtoday Staff    Dec 07, 2005

Infosys has announced that Centurion Bank of Punjab (CBP) - the merged entity of the Centurion Bank and Bank of Punjab (BOP), has chosen Finacle banking solution to power its technology led business transformation initiative.

Finacle, chosen as the Integrated Technology Platform (ITP), is a banking solution from Infosys that empowers banks to transform their business by leveraging technology. It addresses the core banking, e-banking, treasury, wealth management, CRM, and cash management requirements of banks.

While Bank of Punjab has always been a Finacle client, Centurion Bank used Equation from Misys.

Merwin Fernandes, VP and Business Head - Finacle, Infosys Technologies, told CXOtoday, “Compared to other ITPs, Finacle is a new generation technology. This enables it to take care of the growing client base in the event of mergers. It is easier and faster to implement Finacle and also to train employees to use this.”

Anil Jaggia, COO, Centurion Bank of Punjab, told CXOtoday, “Before selecting Finacle, three other solutions were considered. What prompted us to settle for Finacle is the time taken to create the unified banking platform and the fact that no training would be needed as BOP staff are already trained in this.”

He added that by 30th September, 2006 both the banks would come on the same platform.