Comparex Africa Pty. Ltd. has announced an alliance with Infosys Technologies Ltd., a global ICT solutions company, to market Finacle, Infosys' universal banking solution, in southern Africa.
Comparex Africa will act as Infosys' Business Alliance Partner for sales and services related to Finacle in SA, Namibia, Swaziland, Mozambique, Lesotho and Malawi. Comparex will also provide post-sales support for Finacle customers in the region. Finacle has a global presence, with over 93 customers across 27 countries, the company says.
The partnership is targeting retail, wholesale and universal banks in the region to offer new-generation, flexible, scalable and integrated-yet-modular solutions in core banking, e-banking, Web-based cash management, treasury, trade finance and alerts, Comparex says. The partnership aims to deliver a clear value proposition to its customer banks: a one-stop-shop for a total end-to-end solution, comprising software, hardware and networking.
Comparex says that it will be complementing Infosys' banking solution with local services and support, and that the partnership intends to provide banks in the region with new technology solutions based on lower total cost of ownership and the lowest risk.
Says John Lagaay, group executive of Comparex Africa's Business Applications Division: "We view this alliance as strategic to our plans in the banking space in the region. We are confident that the addition of Finacle to our portfolio of banking solutions will enable us to address the needs of our banking clients end-to-end."
Merwin Fernandes, vice-president and global head of sales and marketing, Banking Business Unit, at Infosys, adds: "Banks the world over are today saddled with legacy systems that are expensive to maintain and act as a drag on their business agility. Finacle has emerged as a low-risk and low-TCO new-generation alternative to legacy systems. We view SA (South Africa) as a strategic market in this space."