20 September 2017
visit www.avoka.com

Infosys bidding for BBVA contract

27 May 2008  |  7408 views  |  0 keyboard

India's Infosys Technologies is close to signing a deal with Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) for the supply of its Finacle core banking technology.

A source has told Finextra that Finacle is one of several platforms being considered by BBVA.

The bank is looking to roll out a new technology platform as part of its business transformation programme, which was disclosed last year.

BBVA said it would invest EUR5.6 billion in technology over the next three years, with around EUR2.5bn of the total spent on initiatives arising from the bank's global 'innovation and transformation' plan, which is expected to increase productivity by 15% and improve efficiency by 20%.

BBVA is expected to make a final decision on a technology platform later this week.

Earlier this year Infosys said it had invested over US$60 million in the last three years on upgrading its flagship Finacle platform. The latest version of the system includes wealth management application, an enhanced mobile banking system and a new Islamic banking option.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Infosys spends $60m on Finacle upgrade

Infosys spends $60m on Finacle upgrade

20 February 2008  |  6828 views  |  0 comments
Infosys signs Kazakhstan's Alliance Bank to Finacle

Infosys signs Kazakhstan's Alliance Bank to Finacle

10 December 2007  |  5270 views  |  0 comments
BBVA disloses EUR5.6bn technology investment

BBVA disloses EUR5.6bn technology investment

01 June 2007  |  6770 views  |  0 comments
Infosys inks $20m Banco Continental de Panama contract

Infosys inks $20m Banco Continental de Panama contract

16 March 2006  |  6979 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comvisit www.vasco.comvisit www.temenos.com

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
11157 views comments | 24 tweets | 40 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10469 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9241 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7735 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7514 views comments | 14 tweets | 15 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job