This will help Eastern Bank enhance its online and mobile banking products while providing a platform to allow for growth and making banking easier for customers, Infosys said in a statement. No financial details were disclosed.
The country's second-largest software services firm Infosys today said it deployed its financial solution Finacle for Eastern Bank, the largest and oldest mutual bank in the US. This will help Eastern Bank enhance its online and mobile banking products while providing a platform to allow for growth and making banking easier for customers, Infosys said in a statement. No financial details were disclosed.
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"We are dedicated to providing our customers with products and services that make managing money simple. We're excited and confident that our customers will soon enjoy Finacle's intuitive online and mobile products," Eastern Bank Executive Vice President and Chief Information Officer Barbara Heinemann said. Eastern Bank selected Finacle e-banking, mobile banking and enterprise alert solutions to meet the needs of its growing base of consumers, small business and commercial clients, it added.
Founded in 1818 and based in Boston, Eastern Bank has USD 8.7 billion in assets and almost 100 banking offices in eastern Massachusetts. Finacle's open architecture will help the bank integrate with third-party solutions and partner products, while rolling out new features to existing products seamlessly. "Eastern Bank's focus on delivering better and faster services to its customers is the underlying foundation of this new platform designed on Finacle," Infosys Finacle Global Head Haragopal M said.
Infosys stock price
On April 16, 2014, Infosys closed at Rs 3156.40, down Rs 104.05, or 3.19 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2190.00.
The company's trailing 12-month (TTM) EPS was at Rs 177.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.78. The latest book value of the company is Rs 805.47 per share. At current value, the price-to-book value of the company is 3.92.
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