17 July 2018
Visit www.avoka.com

Infosys bidding for BBVA contract

27 May 2008  |  7523 views  |  0 Infosys bidding for BBVA contract

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  |  6988 views  |  0 comments
Infosys signs Kazakhstan's Alliance Bank to Finacle

Infosys signs Kazakhstan's Alliance Bank to Finacle

10 December 2007  |  5412 views  |  0 comments
BBVA disloses EUR5.6bn technology investment

BBVA disloses EUR5.6bn technology investment

01 June 2007  |  7040 views  |  0 comments
Infosys inks $20m Banco Continental de Panama contract

Infosys inks $20m Banco Continental de Panama contract

16 March 2006  |  7116 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit info.nice.comVisit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
10404 views comments | 19 tweets | 30 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
9375 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8740 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7745 views comments | 1 tweets | 5 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job