Infosys Finacle Implements Real-Time Core Banking Platform for Discover Financial Services

CHICAGO and BANGALORE, India — Infosys, a leader in consulting, technology, outsourcing and next generation services, announced today that it has successfully implemented its Finacle™ core banking solution for Discover Financial Services (NYSE: DFS), a leading U.S. direct bank and payment services company.

The new Finacle platform provides Discover with real-time processing and customer servicing for the company's deposits portfolio, and is expected to be extended to support Discover's installment lending products as well. The Finacle solution helps companies enhance operational efficiency, bring new products to market, integrate and automate compliance functionality, reduce costs and deliver a superior banking experience to its customers.


        - Finacle has helped Discover replace its legacy, mainframe-based core

          banking platform with a new, service-oriented architecture that incorporates

          real-time, straight through processing

        - Discover has migrated the Deposits business to this new core banking platform

          and plans to migrate the Personal Loans and Student Loans businesses to the new


        - Many processes that formerly required multiple hand-offs are now automated and

          can be resolved in real-time, improving customer service and efficiency

        - The Finacle solution supports the bank's broader efforts to provide a unified

          and real-time 360 degree view of the customer portfolio and transactions across

          businesses and channels. This will enable the bank to better serve customers with

          contextual and personalized services and offers

        - Discover anticipates operational efficiencies from the implementation, such as

          a decrease in average call time for customer support

        - Using an extensive product factory comprising global best practices and

          reusable components, Discover can configure and evolve products to keep pace with

          consumer demands, and market and regulatory requirements

        - With built-in compliance functionality that is maintained through application

          parameters, the bank will be able to reduce the time and effort needed to react to

          evolving regulatory requirements. The solution also improves the reporting process for

          the deposits and installment lending businesses


Carlos Minetti, President of Consumer Banking at Discover Financial Services

"Discover's adoption of the Finacle solution is part of our continuous commitment to improve our customer experience. As our direct banking business grows, the Finacle platform will help us scale and optimize internal processes so that they keep pace with evolving consumer demands and market trends."

Michael Reh, Senior Vice President and Global Head of Finacle at Infosys:

"Discover is leveraging Finacle to support business growth, enhance customer service and integrate and automate Federal and State compliance requirements. This successful implementation shows financial institutions in the US, burdened with inflexible legacy IT infrastructure, can deploy Infosys Finacle to help them achieve technology modernization to transform their business and power profitable growth."

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access

locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit

About Infosys

Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit to see how Infosys (NYSE: INFY), with US$8.25 billion

in annual revenues and 165,000+ employees, is Building Tomorrow's Enterprise® today.

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