State Bank of India has selected Finacle Universal Banking, the core banking solution of Infosys Technologies, to power its international operations, under a $35 million contract, and the deployment is expected to be completed by March 31, 2005.

"We have chosen Finacle as a single, standard technology platform for the bank's international operations, which would be deployed in 20 countries to begin with and later across all global branches," SBI chairman A K Purwar told reporters in Mumbai on Friday.

SBI would deploy Finacle core-banking, e-banking and treasury solutions, replacing the present disparate systems across its operations, Purwar said, adding this would provide the bank better risk management capacity and enhanced information systems.

The solution would also enable SBI to offer new and innovative products and services, he said.

The implementation is valued at $35 million, which also includes $11 million for software, hardware and new working solutions. Hewlett-Packard is the hardware partner under the deal, he said.

Singapore-based integration firm Draftcraft is also a partner in integration of the solution.