Housing Bank Algeria Selects Infosys Finacle to Power its Operations

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Chandigarh 07^th March:-  The Housing Bank, one of the most respected banks in the Middle East, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY), announced the selection of the Finacle suite of solutions to power the bank's operations in Algeria. The bank has chosen to deploy the Finacle Core Banking, Trade Finance and Internet Banking solutions and will also deploy the Finacle Islamic Banking solution for its Shariah banking product. The Finacle Analytics solution will enable the bank to offer targeted and customized offerings to its customers. With Finacle, the Housing Bank Algeria will not only achieve a significant jump in operational efficiencies, but will also accelerate growth, manage scale and drive innovation, thereby providing superior value to its customers. 

Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle said that a truly digital transformation of banking operations is today no longer a matter of choice, but a necessary requirement for success. He added that with the adoption of the Finacle solution suite, the Housing Bank Algeria is among the select few banks in the MENA region with a proven technology platform to deliver a digital age banking experience to its customers. Building on our current partnerships in Jordan and Algeria, Finacle is well poised to help the bank extends this success across its other regional entities for accelerating growth and profitability.

Houcine Hannachi, General Manager, Housing Bank Algeria, said that as a private bank in the Algerian market, we are continuously looking to offer our customers with new products and services. We recognize today's challenges and competition. Our strategy is to benefit from information technology evolvement by empowering and complementing the bank's business, sales and marketing. We believe that these Finacle Solutions will support us in our mission and help us enhance our customer's banking experience, and above all inspire us to innovate.