Software and consulting major Infosy Technologies on Thursday announced that its banking business unit was partnering with Microsoft Philippines, a division of Microsoft Corporation, and Intel Microelectronics Philippines Inc, to provide industry-leading ebanking solutions to banks in the Philippines.

"The three companies, leaders in their respective areas of operation, have joined hands to offer next generation e-banking solutions that are out-of-the-box and ready to be deployed," the Nasdaq-listed company said in a statement.

The solution is based on Infosys' Finacle, running on Microsoft .NET and Intel platform. This joint initiative was a result of efforts, which these companies had been investing in optimising the solution to deliver and maximise business value and return on investment to their mutual customers, Infosys said.

"The combined solution offers customers lower total cost of ownership and clear time to market advantage gained by deploying a pre-integrated and optimised solution stack," the statement added.