Boston-based Eastern Bank Selects Infosys Finacle to Revamp its Online and Mobile Banking Products and Services

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Apr 16, 2014, 06:00 ET

BANGALORE, India and BOSTON, April 16, 2014 /PRNewswire/ --

Eastern Bank, the largest and oldest mutual bank in the United States, has chosen Infosys Finacle to enhance its online and mobile banking products, while also providing a platform that allows for future growth and makes banking easier for its customers. Eastern Bank selected Finacle e-banking, mobile banking and enterprise alert solutions to meet the ever-changing needs of its growing base of consumers, small business and commercial clients.

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The changes mean Eastern Bank, which has $8.7 billion in assets and nearly 100 banking offices in eastern Massachusetts, will soon be positioned to quickly launch new services and update current offerings so that its customers consistently have access to highly competitive online and mobile banking products.

Highlights:

Eastern Bank selected Finacle for its product flexibility, deep research and development capabilities and extensive global experience;
Finacle's open architecture will help the bank integrate with third party solutions and partner products, while also roll out new features to existing products seamlessly;
The on premise deployment of Finacle will greatly reduce the time-to-market for customized solutions and delivery of enhancements to existing services by the bank;
Finacle's user experience personalization capabilities will allow the bank to deliver an intuitive and engaging experience for its customers across segments.

Quotes:

Barbara Heinemann, Executive Vice President, Chief Information Officer, Eastern Bank:

"At Eastern Bank, we are committed to putting the needs of our customers first. We are especially dedicated to providing our customers with products and services that make managing money simple. We're excited and confident that our customers will soon enjoy Finacle's intuitive online and mobile products."

Haragopal M, Global Head, Infosys Finacle:

"We are helping banks across the world put customers at the heart of their transformation journey. Eastern Bank's unwavering focus on delivering better and faster services to its customers is the underlying foundation of this new platform designed on Finacle. We look forward to bringing our vast global experience and proven technology offerings to continue to make banking with Eastern Bank a simple and enjoyable experience."

Additional Resources

For the Innovation in Retail Banking 2013 report, click here Infosys website or SlideShare
Let's Simplify Banking white paper click here
For more on Finacle Mobile Banking video click here
For more on Finacle e-Banking click here

About Eastern Bank

Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the country, with $8.7 billion in assets and more than 90 branches serving communities from the Merrimack Valley to Cape Cod. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers' needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Bank Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes. For more information, visit: http://www.easternbank.com, http://www.facebook.com/easternbank or http://www.twitter.com/easternbank.

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 http://www.infosys.com to see how Infosys (NYSE: INFY), with US$8.2 B in annual revenues and 160,000+ employees, is Building Tomorrow's Enterprise® today.

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended December 31, 2013. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this press release is mentioned at the beginning of the release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.

SOURCE Infosys