Even as it signed 12 new deals for its core banking solutions in just

RELATED ARTICLES Infosys to strengthen presence in Oman Leverage on unique diversity to achieve IT development: Infosys Srinivas, Vemuri interchange positions at Infosys Infosys to set up Rs 600 crore unit in MP's super corridor Andhra Bank Q3 net down 8.5% at Rs 303 cr

the third quarter compared with 14 in the whole of financial year 2009, Infosys Technologies’ banking product unit Finacle is betting on its ‘surround solutions’ for traction, especially in India.

Haragopal M, global head, Finacle, Infosys Technologies, said, “The solutions we have developed around Finacle are doing well. Cross-selling is helping. Although different engines are at different levels, we generally have 20 per cent of our revenue coming from these offerings.’’

In last couple of years, Finacle has launched solutions for regional rural banks (RRBs), financial inclusion and Islamic banking, to derive growth in a challenging environment. Aimed at helping the client become more competitive and win more customers, they have seen good traction from all segments including Indian RRBs, which accounted for 20 deals for the Finacle’s solutions so far.

Haragopal M said the company was in discussions with a couple of banks in India, APAC and Africa for Finacle Advisor, which was launched in December last year. Financial inclusion solutions or micro-banking is the other one going through pilots at present.

So why is Infosys’ banking product unit so confident about this opportunity of surround solutions? According to Haragopal M, a study was done among 450 C-level executives in India and abroad recently by the company. About 85 per cent said innovation is very relevant to their companies; 80 per cent said technology is key to this but only 37 per cent said their firms have a defined strategy in place.