Ukraine-based Nadra Bank Implements Finacle Universal Banking Solution

MUMBAI: IT major Infosys Technologies on Monday said Ukraine-based Nadra Bank has selected its flagship product 'Finacle Universal Banking Solution' to power its transformation initiative.

Finacle encompasses core banking, Customer Relationship Management (CRM), treasury, e-banking and would replace the bank's current in-house decentralised system, Infosys said in a filing to the Bombay Stock Exchange.

"This win is of strategic importance to us. With an already established and fast growing client base for Finacle in Russia and CIS, the region is strategic to our growth plans," Infosys Technologies VP and Head (Worldwide Sales- Finacle) Sanat Rao said.

The implementation would leverage global practices and would play a pivotal role in helping the Ukrainian bank streamline operational efficiencies, the company said.

Finacle customer base spans across 55 countries and was recently recognised by top analysts including Gartner, Forrester and Celent.

Shares of Infosys closed at Rs 1,871.50, down 1.96 per cent, on the BSE in late afternoon trade.