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Kenyan bank opts for Infosys' e-platform

Fakir Chand in Bangalore

Infosys Technologies Ltd, the Bangalore-based global software and solutions provider, has entered into a strategic alliance with Kenya Commercial Bank to deploy its core banking solution, Finacle.

As the largest bank in East Africa with over 100 branches in Kenya, KCB has made a dramatic turn around reporting operating profits under the leadership of a new management team.

Replacement of its technology platform has been one of the key strategic initiatives of the new team in carrying out its proposed business transformation and strengthening its competitive leadership.

"When we decided to change our core banking platform as part of our turn-around strategy, we were looking for a partner, who could add strategic value to the bank. We believe Finacle with its new generation architecture is suited to power our strategy to meet the challenges of the new banking paradigm emerging in Kenya, said Gareth George, CEO of the bank, in a statement in Bangalore on Thursday.

According to Infosys' banking business unit vice-president Merwin Fernandes, the enterprise banking e-platform provides the bank with an open and adaptable new generation architecture that leverages the power of Internet technologies to deliver customer value and business agility.

"The platform offers a comprehensive business solution to a bank to leverage information technology in order to meet the challenges of the new banking age. Africa is a key focus market for Infosys. We are committed to this region and will go all out to ensure that we meet the expectations of KCB," he added.

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