Finacle is a universal banking solution from Infosys which addresses the core banking, treasury, wealth management, consumer and corporate e-banking, mobile banking and web-based cash management requirements of retail, corporate and universal banks worldwide. Standard codes like ISO Country / Currency, SWIFT BIC Codes, UCPDC Codes are also incorporated in the Finacle BIAB framework, the company informed.
The fourth quarter (January-March) is usually a weak quarter for the Indian IT companies due to the lesser number of billing days. This time, however, the good news is that the rupee has depreciated by about 1.3 per cent during the quarter. Every increase/decrease of a percentage point in the rupee lowers/adds to the operating (EBIDTA) margins by 30-50 basis points (bps).
Employees of Infosys Technologies may get pay hikes below 10 per cent this year, the company's chief financial officer S D Shibu Lal said on Tuesday.
IT services provider, Infosys Technologies, is likely to effect certain management changes amid industry speculation is rife that Nandan Nilekani, co-chairman, may relocate to the US for professional and personal reasons.
The software major has plans to invest Rs 500 crore at Kolkata campus that will create employment for 5,000 professionals. The company is yet to get possession of 90 acres of land assured by the state government. West Bengal Chief Minister Buddhadeb Bhattacharjee on Thursday said that Infosys had shown apprehension about investing in the state following recent incidents in Singur where Trinamool Congress has been agitating against acquisition of farmland by the state governme
IT major Infosys Technologies, which has presence in 40 countries, will spend Rs 1,250 crore (Rs 12.50 billion) over the next ten years for its new facility at Pocharam, near Hyderabad, being constructed in a 450-acre special economic zone.
In yet another example by an Indian corporate to become cost-sensitive, IT bellweather Infosys Technologies is asking all its employees to go in for a one-time cost savings of $10 each. This initiative is expected to help the company, which has over 100,000 people on its rolls, to incur a cost saving of $1 million (around Rs 5 crore), which is a 'substantial amount' according to the company.
The Indian IT major spent a total of Rs 15 crore (Rs 150 million) towards the failed deal, but in the process received Rs 33 crore (Rs 330 million) from the UK firm, as inducement fees. Two of India's leading software services firm were in the race to acquire the London Stock Exchange-listed Axon, but last month HCL Technologies outbid Infosys and acquired the British firm.
Lockheed Martin is in talks with Infosys Technologies, Wipro, Reliance Industries, the Tata group, Larsen & Toubro and Hindustan Aeronautics to source software services, components and systems.
Software major Infosys Technologies on Tuesday announced a 33.31 per cent growth in consolidated net profit at Rs 1,641 crore (Rs 16.41 billion) for the third quarter ended December 31, 2008, over the corresponding period a year ago.
Reacting strongly to the Satyam fiasco, IT major Infosys has said the fraud is a deliberate act and should be treated under criminal provisions.
Infosys Technologies and Association for Computing Machinery have signed an agreement to create a new annual award that recognises young scientists and system developers.
Even as several SEZs are struggling to get off the ground, the Mahindras have managed to kick off their second SEZ at Jaipur, after their first one in Chennai.
Tata Consultancy Services topped the list of top 10 best performing IT service providers worldwide rated by Global Services, a specialised publication for IT businesses.
World's largest exchange, the New York Stock Exchange is wooing India's showpiece IT firm Infosys Technologies to list its shares on its trading platform.
Infotech major Infosys Technologies Ltd is scouting for acquisitions in 'all geographies' to expand its overseas footprint, the company's chief executive officer and managing director S Gopalakrishnan said.
Despite the biggest weekly loss, market analysts expect a better week ahead as falling prices have made stocks very attractive, given that the quarterly results were not a complete letdown.
The country's second largest software exporter Infosys Technologies on Thursday said the domestic IT industry is likely to grow by 15 per cent this year against 30 per cent growth last year in the wake of global slowdown.
Infosys Technologies, India's second-biggest software developer, said it plans to raise the share of its revenues from Europe to counter a slowdown in the US, the world's biggest economy, which fetches it about 60 per cent of its sales.
Hit by the dollar-debasement, the Indian handmade carpet industry is all set to de-risk business by embarking on a new mission: That of looking beyond the US market and expanding its footprint in Europe.
"It will be a potent combination of a weak economy and an election year," warned Nandan Nilekani, co-chairman of Bangalore-based Infosys Technologies.
Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.
A 700-750 pence per share final price for Axon ($900-910 million) cannot be ruled out by the time the bidding war ends, say CLSA analysts. However, regardless of whoever wins this largest overseas acquisition, Emkay Global Financial Services analysts opine that Axon could well prove to be a winner's curse since a long-drawn bidding war might tell on the bottom lines of both firms.
Eyeing to make 8 buys to meet their revenue guidance.
Wipro, Satyam join TCS, Infosys in beating rupee blues.
Infosys Q1 net stood at Rs 1,527 crore, up 17.28 per cent. The company announced its results on Friday, a day after its co-founder and co-chairman Nandan Nilekani left for government's ID project.
Nandan Nilekani and Ajay Banga attended the Clinton Global Initiative.
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
Infosys Technologies, India's second-largest IT company, posted an 18.4 per cent increase in its consolidated net profit for the second quarter ended September 30, 2007, over the same quarter of the last financial year.
The deal will give Infosys higher-end consulting capabilities and enable it to grow in a non-linear fashion. It will also enable Infosys to acquire some global names as clients and improve the Indian major's footprints in Europe at a time when Indian firms need to reduce their dependence on the US market.
Using its global delivery model for implementation of its many relationships within the financial services market, Infosys was now the fastest growing TSP to the industry.
Even as the strong anti-outsourcing lobby in the US is forcing US lawmakers to take a relook at their H1-B visa strategy amid huge job losses, Infosys Technologies which holds the largest number of H1-B visas among all the Indian IT services companies has started reducing the number as a part of the company's policy to reduce its 'overseas bench' strength.
IT bellwether Infosys Technologies is on the prowl to acquire small and medium business process outsourcing companies that fit strategically with the operations of its subsidiary, Infosys BPO.
Infosys is the first Indian company to be selected for Nielsen Norman Group's Intranet Design Annual Award.
Consolidated net sales shot up by 6.87 per cent
A top infotech official has warned the Indian IT industry, already facing trouble spots such as wage inflation, high attrition rates and a strong rupee, cannot afford to sit on its laurels as global competition is on the rise.
Infosys BPO is planning on closing 3 deals to the tune of Rs 600 crores in the next 3-6 months.
Except for Satyam Computers, attrition rate went higher at Infosys, TCS and Wipro from both the previous quarter as well as the year-ago period.
Tata Consultancy Services is the top IT-ITES employer in India, followed by Infosys Technologies and Wipro Technologies.
India's second-largest IT services exporter targets Australia, Japan, South Africa.
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