Infosys Finacle Q4 sales up 31% at $86 mn

Finacle, the banking product division of Infosys Technologies, recorded 31% jump in turnover to $86.1 million (about Rs 387 crore) for the fourth quarter ended March 31, 2011.

"The topline (during the quarter) rose to 86.1 million against $65.6 million," said Haragopal M, global head, Finacle.

For the entire 2010-11, the division has clocked sales of $295 million, as against $208 million in the previous fiscal, up 42.1%.

During the year, the division made an investment of $75 million in Research and Development.

Haragopal said the company signed 18 new deals during January-March, 2010-11. During the fiscal, there were 41 wins as compared to 31 in the last fiscal.
    
He said 48 banks and financial institutions across the globe have implemented Finacle during 2010-11.
    
Finacle, with over 140 clients across 73 countries, has rolled out three new products including Mobile Banking 2.0 solution and Finacle Lite.