Infosys : Standard Bank chooses Infosys Finacle Mobile Teller Solution to Revolutionize Customer Experience in its Branches Across Africa

Standard Bank chooses Infosys Finacle Mobile Teller Solution to Revolutionize Customer Experience in its Branches Across Africa

Bangalore & Johannesburg - June 26, 2019

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY), and Standard Bank, Africa's biggest lender by asset size, announced the bank's adoption of the Finacle Mobile Teller Solution to digitize its banking services across its branches in the African continent. Standard Bank is now live on the solution in 107 branches across five countries - Lesotho, Zimbabwe and Malawi, Zambia, eSwatini, all implemented in just 22 weeks. The solution is currently in Implementation for Ghana and Tanzania and will be further planned in a phased manner across Standard Bank's Africa Regions countries.

Finacle Mobile Teller, the comprehensive, enterprise level tablet based solution comes with designated workflows for each role - teller, relationship manager and agent. With an interactive user interface, intuitive navigation, an offline mode of operation and inbuilt analytics engine, tellers will be empowered to provide personalized services on-the-go and virtually eliminate waiting in queues.

Benefits realized by Standard Bank

• Consolidation of data exhaustive teller screens and optimization of teller applications, has reduced it from 17 to just five single-click selections. This has resulted in an average service time of less than 50 seconds, improving turnaround time on transactions (TAT) by over 40%, and thereby reducing waiting time for customers
• Consolidation of popular activities on a single screen, allows a teller / relationship manager to service multiple requests from a customer in a single window. This has resulted in a 37% capacity improvement and a reduction in branch network cost by almost 14%
• Cash deposit transactions which used to take 120 seconds can now be done in under 40 seconds
• Enabled with a comprehensive customer information view, the bank has been able to adopt virtually paperless banking, resulting in over 50% reduction in stationery
• The well-designed intuitive user experience has reduced training time for branch staff from one week to just about two hours. Additionally, the digitization and automation has resulted in reduction of overtime costs, thereby enhanced work satisfaction

Klaas Kruger, Chief Information Officer - Africa Regions, Standard Bank: 'Ensuring world class customer experience is a key priority for Standard Bank and ensuring this at non-digital touch points such as branches, was a challenge. The implementation of 'Moby', Finacle's Mobile Teller Solution as we call it, has been a significant step in our journey towards customer centric digitization and process optimization. 'Moby', in combination with our existing Finacle Omnichannel Hub has been a game changer in helping us provide the best banking experience in Africa.'

Sajit Vijayakumar, Senior Vice President and Chief Operating Officer, Infosys Finacle: 'The key component of a truly digital transformation is getting the customer experience piece right. We are delighted to see the impact of the Infosys Finacle Mobile Teller Solution in Standard Bank's mission to digitize its branches. As a strategic technology partner to Standard Bank, we stand committed to helping them in their pursuit to provide dependable, inclusive and accessible banking services pan Africa, with a world class customer experience. Having been proven across the continent, Finacle Mobile Teller Solution is a perfect choice for African banks looking to accelerate their branch digitization.'

About Standard Bank

Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.

Standard Bank has a 156-year history in South Africa and started building a franchise outside southern Africa in the early 1990s. Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.

The group has over 53 000 employees, approximately 1 200 branches and over 9 000 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management.

Headline earnings for 2018 were R27.9 billion (about USD2.1 billion) and total assets were R2.1 trillion (about USD148 billion). Standard Bank's market capitalisation at 31 December 2018 was R289 billion (USD20 billion).

The group's largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world's largest bank, with a 20,1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.

For further information, go to http://www.standardbank.com

About Infosys Finacle

Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.

To know more, visit www.finacle.com

Safe Harbor

Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.

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