Wednesday, November 30 2005 11:09 Hrs (IST) - World Time -

Mumbai: Infosys Technologies Ltd on Tuesday (Nov 29, 2005) said Arab National Bank (ANB), a leading Saudi bank, has chosen its core banking solution 'Finacle' to power its aggressive focus on the burgeoning retail banking market in Saudi Arabia.

The bank aims to leverage new generation technology to differentiate its value proposition in retail banking and manage the expected rapid growth in scale of operations, Infosys informed the Bombay Stock Exchange.

"The decision of ANB, an existing Finacle customer for e-banking, to choose Finacle for core banking as well, is a strong reinforcement of their belief in the partner. This win further consolidates our leading position in the Saudi market and strengthens Finacle's position as the choice of solution for large banks in the retail and universal banking space worldwide," Finacle Vice President and Business Head, Merwin Fernandes said.

ANB is one of the largest and most respected banks in Saudi Arabia and ranked among top 500 banks globally.

Infosys's 'Finacle' is globally used in packaged banking solutions space, with a customer base across 47 countries. Finacle has a strong presence in Asia-Pacific, Europe, Middle East and Africa.