Five-Year, $114 Million Contract to Implement Alnova Financial Solutions
WARSAW; Aug. 18, 2003 –Accenture has signed a $114 million contract to implement a core-banking platform at PKO BP, Poland’s largest bank, as part of a consortium that includes Alnova Technologies Corp., a wholly owned Accenture subsidiary, and Polish IT company Softbank.
As part of the agreement, Alnova will license its Alnova Financial Solutions software to PKO BP. Accenture will adapt the software to the bank’s specifications and lead the implementation across the bank’s corporate systems. Softbank, which helps manage PKO BP’s current IT platform, will implement the solution at the bank’s branches. Accenture and Softbank will also provide applications support and maintenance services as part of the five-year contract.
Alnova Financial Solutions is a modular core-banking solution comprising applications that support all the functions of a retail bank, including teller platforms, customer files and transaction processing. PKO BP has made a new core banking platform a key element of its modernization strategy. The new system is expected to help the bank strengthen its relationships with retail and corporate clients, improve its management of systems and personnel, support its portfolio of products and services, and facilitate the development and launch of new products.
"We have decided to implement Alnova’s core-banking technology, Alnova Financial Solutions," said Andrzej Posiadlo, president of the board of PKO BP. "It fulfills our expectations. It’s modern and proven, and it works well in the banking system in the country and abroad."
"Our global industry experience and knowledge of the Polish market will help us contribute to PKO BP’s modernization strategy," said Jaroslaw Kroc, the partner in Accenture’s Financial Services group responsible for the engagement. “We expect Alnova Financial Solutions to lower the bank’s IT costs while improving the bank’s ability to serve customers.”
This is the third implementation of Alnova Financial Solutions in Poland. Globally, the software has been implemented more than 100 times in more than than 20 countries. The engagement represents the largest IT project in Poland this year. Implementation is expected to begin in October 2003, with completion expected by the end of 2006.
Accenture is a global management consulting and technology services company. Committed to delivering innovation, Accenture collaborates with its clients to help them realize their visions and create tangible value. With deep industry expertise, broad global resources and proven experience in consulting and outsourcing, Accenture can mobilize the right people, skills, alliances and technologies. With more than 80,000 people in 47 countries, the company generated net revenues of $11.6 billion for the fiscal year ended August 31, 2002. Its home page is www.accenture.com.
About Alnova Technologies Corporation
Alnova Technologies Corporation, headquartered in Madrid, Spain, is an independent software vendor and a subsidiary of Accenture. The company’s Alnova Financial SolutionsTM, a modular core-banking solution for the financial services industry, offers applications that support all the functions of a retail bank, including real-time processing, integrated channel delivery, customer centricity and 24x7 support. Alnova Financial Solutions has been implemented at over 100 banking institutions worldwide and is used in 5 of the world’s top 50 banks. “The Banker” magazine, based in London, recognized Alnova as the “Retail Core Banking Solution of 2003.”