BAI – Finacle Global Banking Innovation Awards Announces 2012 Winners

Global Banks Honored for Vision and Leadership in Innovation


WASHINGTON, DC–(Marketwire – October 9, 2012) – BAI and Infosys today
bestowed the most innovative banks in the world with the prestigious
2012 BAI – Finacle Global Banking Innovation Awards. Now in its second
year, the global awards program recognizes and supports innovation in
the retail banking industry. This year’s honorees were recognized at a
special ceremony today at BAI Retail Delivery 2012 in Washington, D.C.


The winning financial institutions were chosen among more than 150
entries from over 30 countries for breakthrough innovations that
positively impact banks and their customers. The award winners were
selected by the Innovation Circle Judging Panel, an objective,
third-party board. This distinguished international group is composed of
prominent industry thought-leaders, academics and retail banking
professionals.

OCBC Bank, located in Singapore, earned the
Product and Service Innovation Award for FRANK, a radical approach to
addressing Generation Y’s different style of connecting and engaging
with financial institutions. FRANK branches — or “stores” — are
designed to specifically serve this group of young people aged 18 – 28,
through being conveniently and strategically located in campuses and
malls, the use of understandable language on signage and documentation,
and through a casual atmosphere where popular music is played, and where
interactive touch screens allow customers to shop and apply for their
personalized FRANK debit or credit card. Overall, FRANK allows OCBC Bank
to develop lifetime, personalized relationships with these consumers by
meeting their needs early on.

The award for Channel Innovation
was won by DenizBank, located in Turkey, for introducing the ‘Globally
First Ever’ Banking Platform on Facebook. With full online banking
functionality, the platform enables Facebook users to check their bank
account, see a total picture of assets and liabilities, send money to
anyone, anytime, purchase/enroll in consumer loans and credit cards, and
invite Facebook friends to use the platform, among other capabilities.


Alior Bank, located in Poland, received the Disruptive Innovation in
Banking Award for changing the banking services market in its country.
Alior Sync is a progressive, virtual bank that offers full-service
banking via a virtual platform with a contemporary means of
communication for its target segment, customers between the ages of 20
to 35. The innovative model of operations eases the facilitation of
processes involved in offerings and sales of products and services, such
as a fully online credit process — a first in Poland.

The Most
Innovative Bank of the Year Award was awarded to First National Bank, a
Division of FirstRand Limited, located in South Africa, to honor its
culture of innovation and advancement of retail banking. As part of
their innovative culture, the bank holds an internal competition, called
“Innovators,” that formally encourages and supports the process of
innovation and related competencies. Business units within FNB are
empowered to innovate through leadership buy-in and advocacy.


Debbie Bianucci, President and CEO of BAI, congratulated the award
winners for their creativity and excellence. “These banks serve as a
model of what can be achieved through innovation when it comes to
enhancing the customer experience and transforming our industry. Their
commitment and leadership set new standards for us, and we honor them
for their achievement. We look forward to seeing what future innovations
will come from the finalists and winners here today as well as other
banks around the world.”

Haragopal Mangipudi, Global Head –
Finacle, Infosys, commended the award winners for their ability to drive
consumer engagement through innovation. “Their original thinking is the
key to accelerating growth and increasing customer loyalty. As the
innovation partner for global financial institutions, we applaud their
outstanding efforts.”

To learn more about the 2012 BAI – Finacle
Global Banking Innovation Awards and to submit nominations for the 2013
awards, please visit http://www.baiglobalinnovations.com.

About BAI:


BAI is the financial services industry’s partner for breakthrough
information and intelligence needed to innovate and stay relevant in an
evolving marketplace. For more than 85 years, BAI has focused on
advancing the industry by offering unbiased education and research.
BAI’s offerings are as diverse as the industry, and include premier
events such as BAI Retail Delivery Conference & Expo, groundbreaking
research and performance metrics, professional learning and development
programs, and in-depth editorial coverage through BAI Banking
Strategies. For more information, visit http://www.bai.org

About Infosys:


Infosys partners with global enterprises to drive their innovation-led
growth. That’s why Forbes ranked Infosys 15 among the top 100 most
innovative companies. As a leading provider of next-generation
consulting, technology and outsourcing solutions, Infosys helps clients
in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow’s Enterprise´┐Ż today.

Safe Harbor:


Certain statements in this release concerning our future growth
prospects are forward-looking statements, 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, 2012 and on Form 6-K
for the quarters ended September 30, 2011, December 31, 2011 and June
30, 2012.These filings are available at http://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. 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.

For further information please contact:

Jeannette Weiland

BAI

Chicago, USA

Phone: +1 312 683-2319

[email protected]

The Americas

Jay Barta

Infosys Ltd.

United States

Phone: +1 510 926-7840

[email protected]

Asia Pacific

Joya Ahluwalia

Infosys Ltd.

India

Phone: +91 80 41565002

[email protected]

Innovation -The Key to Indias Growth

Has “innovation” become yet another buzzword today, a passing fad… or is it truly the engine of growth?

While
one study published by Businessweek in association with Boston
Consulting Group reveals that 25% of new products launched by
established companies generate enthusiasm amongst users owing to
appropriate utilization of business innovation techniques, another
recent survey revealed that there was contention around the word
“innovation” itself, with 60% of respondents choosing to add their own
definitions. A majority looked at ideas from other domains instead of
brainstorming, prototyping, experimentation or collaboration (as a
technique for finding ideas). Further, most people ranked DaVinci as the
greatest innovator, followed by Edison and Steve Jobs (most didn’t know
who Tesla was)! On a side-note, how many of us can even name five
contemporary Indian scientists?

It is not surprising therefore, to
see many MNCs recently setting up Innovation Centres and Hubs in India,
but not even a single new product idea has come out from them as yet.
Many firms come out with an improvement over an existing product line
and tout that as an “innovation”. Clearly, most seem to be just paying
lip-service or trying to ride this latest bandwagon without the
slightest clue how to really go about the business of innovation.

One
can take a cue from leading global giants such as 3M, Xerox Parc, and
Ideo who are well known for giving us scotch-tape, photocopiers, and
stupendous designs. But not many know that Xerox Parc, for example, have
also come up with innovations such as laser printing, Ethernet, the
modern personal computer, graphical user interface (GUI),
object-oriented programming, ubiquitous computing, amorphous silicon
(a-Si) applications, and advancing very-large-scale-integration (VLSI)
for semiconductors, to name a few.

Some of these innovations had
the power to change the world. How many such examples can we cite coming
out from India or from an Indian company? As a nation, we already have
some of the most talented scientists, academicians, researchers and
engineers along with enough investors, VCs, funding, grants and seed
capital to make it all happen. Yet how many ‘Google’s or ‘Facebook’s
have we launched in the global markets? As the survey mentioned above
revealed, we are happy to “look at ideas from others instead of
brainstorming ourselves” – quite a sorry state of affairs for a country
poised to become the economic powerhouse of this century.

We need
to only look at the history of innovations and new product or technology
launches in US and Europe and correlate that data with the economic
progress of these markets to believe and understand that innovation
really does have the power to bring about a radical change and how it
does so.

However,
all is not lost, as there are a few companies in India such as UNIKEN
(technology innovation solution providers) and Hexolabs (of Mobile
Antakshari fame) who are working in niche areas but growing rapidly and
impacting global markets in an unprecedented way.

Uniken’s
Innovation Centre (located in Pune), is ready with a line of 20-30
innovations of which only two product applications have been launched so
far, and have already become runaway successes! VPSI (Virtual Private
Secure Internet) and TruBank secure internet banking solution are based
on the REL-ID mutual authentication and encryption protocol. This
technology has the potential to be a game-changer in the global BFSI
industry, with most of the leading banks in India having chosen to
deploy the same to protect their customers from cyber fraud and phishing
attacks.

Other innovations by Uniken cut across industry
verticals and have multiple applications – such as Hand Geometry
Biometric Verification System, a micro-AC, solar-powered farming and so
on. And most people would not even have heard about this company that
claims to be the only company in India which is in the “business of
innovation” and has some of the leading experts like Dr. Whitfield
Diffie and Dr. Pat Shankar on its Scientific Advisory Board.

As a
country we have to make a concerted effort to stop being experts at
imitation and start becoming masters of innovation, if we have to
leap-frog an entire generation of technological advances. And our
innovations should focus on developing technology and tools that can
improve the quality of life, make things simpler, better and easier –
and only then would we have created something that has the power to
bring about change.´┐Ż

Construction Boom In India Will Create High Demands For Civil Engineers In Near Future

Civil Engineering is considered to be one of the core branches today. Also we see new and new structures coming up every day so civil engineers will definitely not be without job. It has better prospects in India and in abroad as well. It has very bright future after specialization in the academic field. As believed, Civil engineering involves not only field but also involves office and desk works like estimation, analysis, designing, tendering etc. It is a field which has very broad scope.

People think that compared to other branches of engineering, Civil Engineering is the least lucrative with no jobs available for those who graduate. On the other hand one gets multiple job offers from software companies if you are doing other branches of engineering and your starting salary will be mind boggling by Indian standards. On the other hand a Civil Engineering undergraduate starts with a salary as low as Rs. 3000-4000/month, so that brings up a question, who wants to take a job as a Civil Engineer when the difference in starting salary is over Rs. 25,000 or more at times.

According to the policies of Central Government for the development of infrastructure, demand for civil engineers is going to rise in next five years. Civil engineers get good salary with job security. Presently, the demand for Civil engineering course is much higher because of the boom in this sector. Civil engineers are people who mainly deal with new ideas to develop infrastructure. Now days, the presence of private players in the industry has also been increasing the quality of work. Since the quality and the manpower facilities are sufficient, they are in a position to fulfill the national and international demand. Many new and modern projects relating to this sector have also begun.

A job of a Civil engineer requires lot of experience in specific fields to meet the changing demands in this sector. Adequate efforts are from the part of the government is done for the speedy execution of the developmental projects in India. As there are adequate manpower in India, it is possible to achieve this objective. A significant increase in the number of projects in this sector has come up partly because of the high quality work involved in it. As the industry is developing, it is creating in employment opportunities for skilled engineers. One cannot imagine a situation, with out the civil engineering sector in a country.

The Civil engineering discipline has been evolving and many new concepts are being introduced nowadays. Various facilities namely the roadways, bridges, buildings etc are the significant aspects in infrastructure. Every nation is being engaged in expanding its developmental aspects so as to survive with the competition with other nations. Its a fact that a major chunk of investment is done in this area in the country which will change the very face of the nation as a whole. This is mainly made possible with the help of civil engineers. There is an increase in pay for a Civil Engineer with about 5 years experience is phenomenal. This is a trend that is observed not only in India but also in Middle East and the US.

How Outsourcing Content Projects & Software Development Helps Your Business

As Tom Peters, the American writer who has written extensively on business management practices says, “Do what you do best and outsource the rest!”. There is no harm in outsourcing. In fact, outsourcing is not a novice idea and there are lots of businesses that outsource more than one project. Outsourcing content projects is a common practice among many businesses. Most of them lack the core expertise that is required to handle content projects and this is why they prefer to get it done by experts. On the other hand, there are businesses that can’t handle software projects skillfully, and therefore, consider outsourcing software development to be a safer option.

How does outsourcing benefit your business?

While outsourcing is undeniably beneficial for your business, you need to know the exact benefits. Does it help you focus on the core activities or manage the risks better? Handing over the responsibility of some of the most financially rewarding projects to a third party is indeed a smart move for your business. But before you make that move, let’s take a look at the exact benefits of outsourcing.

Lets you focus on the core aspects There are several functions, which are not related to the core aspect of your business. The moment you start expanding your business, the workload of the non-core functions continue to increase. As a result of this, the core activities get neglected and the quality deteriorates. In a situation like this, outsourcing seems to be an easy solution. Since you transfer the responsibility of some of the projects to a third party company or an individual, your key resources can focus on the primary business tasks.

Allows access to skilled expertise One of the main reasons why businesses prefer to outsource some tasks is that they get access to skilled expertise. It may not always be possible for a business to hire employees for a particular skill set. Outsourcing seems to be the most feasible solution in a scenario like this. This allows you to get the job done by professionals, who are expert at handling it. This also saves you the hassles of hiring full time employees and training them for specific projects.

Enables better risk management The moment you outsource a project, you share the risks associated with the project with your outsourcing partner and thus, reduce the burden. By outsourcing a task to a company that is competent enough to handle that, you can rest assured of the quality of the task.

Lets you run your business 24X7 By outsourcing projects to a country like India that is in a different time zone, you can make use of all 24 hours. By the time your working hours are over, the Indian company with which you are working can take over and continue with the work. They can work on several critical tasks and make considerable progress by the time you get back to work the next day. This way, you can abide by the follow-the-sun working model. This also helps you focus on time and material development.

These are some of the ways in which outsourcing helps your business.