Infosys Technologies (NASDAQ:INFY) and Oracle today announced Infosys will integrate Oracle® E-Business Suite applications into Finacle, Infosys' universal banking solution.
The integration will enable financial services organizations to acquire a world-class core banking solution unified seamlessly with leading financial, ERP and performance management applications – streamlining IT management and support.
"Our decision to integrate Oracle E-Business Suite applications will enable us to deliver 'out of the box', a common set of accounting applications – as well as expanded project and corporate performance management capabilities – across Finacle," said Girish Vaidya, Senior Vice President and Business Head – Finacle, Infosys Technologies. "As a Certified Advantage Partner in the Oracle PartnerNetwork, Infosys shares a long-standing relationship with Oracle. We are confident that our new integration initiative will take our relationship to even greater heights."
Infosys will integrate a range of Oracle E-Business Suite applications, spanning financial and corporate performance management, project management and business intelligence. Targeted applications include: Oracle Financials, Oracle Procurement, Oracle Projects and Oracle Balanced Scorecard.
The integration will introduce BPEL (Business Process Execution Language) workflow process management to standardize business flows across financial services organizations. Oracle E-Business Suite's "once-and-done" approach to data entry will help Infosys customers to streamline business processes and improve operational efficiencies.
"The integration of Oracle E-Business Suite applications, using a standards-based approach for business process management, will provide a key differentiator for Infosys," said Andrea Klein, Vice President-financial services, industry strategy and marketing, Oracle. "Traditionally, financial services institutions have struggled with integration of their core banking and business management solutions – adding a new level of complexity to their IT environments. With this out-of-the-box integration, customers will be able to acquire both world-class core banking and e-business solutions that work together– simplifying solution management."