Infosys Technologies said Bahraini Saudi Bank (BSB) has chosen Finacle to replace its legacy core banking solution.

BSB is a leading provider of retail and commercial banking services to customers in Bahrain.

Since 1983, BSB has been successful in meeting the needs of small to medium sized customers in the trade, retail, manufacturing, construction, services and real estate sectors.

The bank currently offers a full range of retail banking services through its network of branches and ATMs and was the first bank in Bahrain to be ISO 27001 certified for its Information Security practices.

BSB also operates through a global network to offer efficient trade finance services to its export/import customers.

Bahraini Saudi Bank chief executive officer Khalid Shaheen said:

“BSB is well positioned today to carve out a leadership position in both, the retail as well as the commercial banking space.

“Armed with tailored financial solutions for mid-market companies in Bahrain and a strong ambition to achieve improvements in customer service delivery standards, we have chosen Infosys as a strategic technology partner based on their international presence, technological strengths, and domain expertise that specifically addresses the unique needs of BSB.”

Speaking on the occasion, Sanat Rao, Global Head – sales, Finacle said:

“Our association with Bahraini Saudi Bank is significant as it marks our first installation in Bahrain.

“We are proud to commence this engagement and are committed to ensuring that BSB attains its growth ambitions.

“The bank’s selection of Finacle ahead of global competition is yet another reinforcement of Finacle’s leadership in the core and universal banking space in the Middle East well as around the world.”

Finacle recently earned the first position in the Forrester Wave on Retail Banking Platforms and was also positioned in the Leaders Quadrant in the Gartner Magic Quadrant for International Retail Core Banking.

Bahraini Saudi Bank is a retail bank with a paid up capital of BD50 million and an authorized capital of BD200 million.

BSB was established by an Amiri Decree on December 15, 1983 and was founded with a paid-up capital held between Bahraini and Saudi shareholders.

BSB offers commercial and retail banking services to its customers in Bahrain through its six branches and network of ATMs.

The bank’s shares are listed on the Bahrain Stock Exchange.

 Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging technology.

The solution addresses the core banking, e-banking, treasury, and wealth management and CRM requirements of retail, corporate and universal banks worldwide.

Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable solutions in its class.

Infosys defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world.

These solutions focus on providing strategic differentiation and operational superiority to clients.

With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 69,000 employees in over 39 offices worldwide.

Infosys is part of the NASDAQ-100 Index. TradeArabia News Service