PRESS RELEASE
FONDEP of Morocco Selects Infosys Finacle for its Banking Transformation
Program
Bangalore - June 23, 2014: FONDEP, one of Morocco's leading microfinance
institutions, has chosen Infosys Finacle for its strategic core banking
transformation program. The Finacle solution will help FONDEP adapt to changing
customer needs by enabling them to offer relevant products to their customer
base.
Highlights
* The comprehensive capabilities of the Finacle solution will enable FONDEP
to accelerate its strategy of expanding beyond micro-credit activities
* The new platform will also enable FONDEP to distribute its existing range
of micro-insurance products to its clients in urban and rural areas
* The program will be deployed in French, underlining Finacle's readiness for
the French speaking North African banking sector
* The deployment will be supported by specialist teams located across the
Infosys global network, including those based at the company's development
center in French speaking Mauritius
Quotes
Mouatassim Belghazi, Chairman, FONDEP
"FONDEP's mission is to contribute to financial inclusion and the fight against
poverty in Morocco. As part of this mission, the efficiency of operations and
cost reduction for customers requires the implementation of an effective
information system. We are confident that Finacle is the core banking solution
that will enable us to achieve our objectives."
Amit Dua, Regional Head, Advanced Markets and Global Accounts, Finacle, Infosys
"Banks need a platform that will enable them to offer a wider range of services
needed to support economic growth that the African market promises. The Finacle
deployment at FONDEP gives us the opportunity to demonstrate our ability to
partner with banks in the French speaking market of this region. It will act as
a springboard to extend our presence in this region."
About FONDEP
FONDEP is a Moroccan microfinance institution founded in 1996, with a current
portfolio of 130,000 clients and loans outstanding of MAD 850 Million
representing 20% of the total microcredit market in Morocco. FONDEP currently
employs 1,150 employees through a network of 178 branches nationwide. Visit
www.fondep.com.
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 www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.25 billion 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, 2014 and on Form 6-K for the quarter ended December 31, 2013. These
filings are available at 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.
For further, information please contact:
Asia Pacific EMEA Americas
Kiran Kumar Yellupula Paul de Lara Tara Kozak-Lindsay
Infosys, India Infosys, UK GolinHarris for Infosys, USA
+91 9769541122 +44 2075162748 +1 212 373 6020
kiran_yellupula@infosys.com Paul_deLara@infosys.com tkozaklindsay@GolinHarris.com
FONDEP
Narjiss Safrioui
Rabat, Morocco
+212 537575750
narjiss.safrioui@fondep.ma