Union Bank of the Philippines, seeking to replace its mainframe legacy system, chose the Finacle core banking solution that runs on Sun infrastructure. The solution includes the Sun Retail Banking Reference Architecture that employs Sun FireTM servers, Sun StorEdgeTM arrays, the Sun JavaTM System platform and the Finacle core banking solution.
With the solution deployed simultaneously to more than 110 of its branches across the Philippines, UnionBank is now able to pursue its plan to provide improved services to its customers on a 24/7 basis.
"Sun's Retail Banking Reference Architecture, based on Sun Fire servers, Sun StorEdge arrays, Sun Java System platform and Finacle Core Banking solution, is designed specifically to enable banks to rapidly bring to market new applications and services that generate new revenue opportunities and provide a path for future growth," said Cynthia R. Mamon, president and managing director, Sun Microsystems Philippines, Inc. "This furthers our commitment to driving innovation and delivering concrete results for the banking industry."
In a press conference to announce this achievement, Justo Ortiz, chairman of UnionBank said, "In Finacle, we believe we've found a cost effective solution that scales up well as we push through our customer acquisition program. It is also one that empowers our people with the ability to rapidly deploy new products and services that this growing customer base demands. To do this, we needed a solution that would enhance our process efficiencies, thereby giving us a competitive edge in the market, while reducing the total cost of ownership. I believe we've found that in Infosys' Finacle."
UnionBank is among the top 10 banks in the Philippines. In July 2004, UnionBank entered into a strategic partnership with Infosys through its local partner TIM to achieve greater business agility and lower total cost of ownership (TCO). "Sun Microsystems and Infosys have a long track record of working with banks to help them integrate their business infrastructures around more efficient, flexible environments that reduce total cost of ownership," commented Mamon.
Merwin Fernandes, vice president and global head of Sales and Marketing for Finacle, Infosys Technologies said, "Finacle has once again demonstrated that a scalable and flexible open systems-based solution can successfully power the bank's future. We are delighted that Finacle has delivered on the legacy replacement initiative of UnionBank to achieve competitive edge and lower total cost of ownership. This is a joint effort by the teams, and I congratulate all members on this stupendous success."
TIM President Jose Mari Antunez said, "TIM continues its endeavor to be the most reliable technology banking partner in the Philippines, and we have proven this by architecting the best-fit solutions, packaged with implementation and support services, to come up with the exact requirements to meet UnionBank's business objectives. As we have done in the past, we are committed to helping UnionBank in making banking services highly available to its customers. We are proud to bring along Infosys and Sun to the table to address UnionBank's requirements, thereby bringing about a successful partnership."
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