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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

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Nigerian bank deploys Infosys' Finacle software

Monday - Apr 16, 2012, 06:56pm (GMT+5.5)
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Bangalore - Nigeria’s oldest bank Wema Bank plc has deployed Indian IT bellwether Infosys Ltd’s software product Finacle to offer core banking, retail e-banking and treasury services to customers through its 137 branches across the African country.

“Built on new generation technologies, open standards and service-oriented architecture, the Infosys product will support over 1.3 million user accounts and is central to our growth strategy based on customer experience,” Wema Bank Chief Executive Segun Oloketuyi said Monday.

With Finacle’s scalable and secure architecture, the bank was able to move its critical operations to a cost effective, integrated platform capable of supporting 24x7 multi-channel transactions.

“Finacle’s robust implementation policy has enabled us to move our 137 branches simultaneously to the new centralised banking system reducing both time and costs. We have leveraged the software to provide customers multi-channel flexibility to access services and make transactions,” Oloketuyi said in a statement from the Nigerian capital Abuja.

As part of its core banking solution, Finacle allows the bank’s customers choose from a range of innovative products and services, enable its audit and control teams to comply with regulatory and security requirements and seamlessly integrate and automate treasury operations.

As the local business partner of Infosys for over a decade, Nigeria’s Computer Warehouse Group played an integral part in the Finacle’s implementation and go-live support at the bank.

“The implementation of the project in record time is a reflection of our commitment to deliver efficient service to our customers on 24x7 basis. Finacle has improved our capacity to provide value-added, customer-centric on-line and in-branch banking services, while complying with regulations,” Sanat Rao, Infosys vice-president and global head for client services, said on the occasion.


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