With respect to recent media reports quoting United Bank of India’s (UBI) concerns about Infosys Finacle, please find below a joint statement issued by both companies.
Haragopal M., Global Head, Infosys Finacle said:
“It is inaccurate to say that Finacle has inherent deficiencies in any form or manner. Finacle’s NPA module has been adopted by and is running successfully in leading banks across India. No bank has raised any issues regarding the performance of Finacle’s NPA module.”
Deepak Narang, Executive Director, UBI said:
“We would like to clarify that there are no inherent deficiencies in Finacle. The version of the NPA tool currently used at UBI needed certain additional customizations to meet our specific needs, which are feasible and are being addressed now. We value the strong relationship we have shared with Finacle for many years. We regret any miscommunication or misconception created otherwise.”
About Infosys
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence. Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 158,000+ employees, is Building Tomorrow's Enterprise® today.
Haragopal M., Global Head, Infosys Finacle said:
“It is inaccurate to say that Finacle has inherent deficiencies in any form or manner. Finacle’s NPA module has been adopted by and is running successfully in leading banks across India. No bank has raised any issues regarding the performance of Finacle’s NPA module.”
Deepak Narang, Executive Director, UBI said:
“We would like to clarify that there are no inherent deficiencies in Finacle. The version of the NPA tool currently used at UBI needed certain additional customizations to meet our specific needs, which are feasible and are being addressed now. We value the strong relationship we have shared with Finacle for many years. We regret any miscommunication or misconception created otherwise.”
About Infosys
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence. Visit www.infosys.com to see how Infosys (NYSE: INFY), with $7.4B in annual revenues and 158,000+ employees, is Building Tomorrow's Enterprise® today.
