LONDON & NEW YORK--(BUSINESS WIRE)-- In a move to bolster its position to meet regulatory compliance mandates, Nationwide Building Society, one of Britain's largest retail financial services firms has deployed a product from ClusterSeven, an international provider of strategic spreadsheet risk and data management software for financial institutions and Fortune 500 financial reporting divisions.

After consulting its strategic technology partner Infosys Technologies, Nationwide selected the ClusterSeven Enterprise Spreadsheet Management (ESM) product for its spreadsheet management and control and risk management capabilities. Committed to best practices in corporate governance, Nationwide now has a product that will help ensure compliance with Basel II, Sarbanes-Oxley and the Markets in Financial Instruments Directive.

"Nationwide is committed to the reduction of process risk, and we expect Infosys to help keep us ahead of the competition," said Pete Coleman, Head of IT Development at Nationwide. "Adopting ClusterSeven gives us central visibility of activity in our business critical spreadsheets and helps protect against operational loss."


In addition, Nationwide will now realize simplified and swifter reviews of business-critical spreadsheets that are part of financial management processes.

"Financial firms face the triple challenge of implementing rapid business changes and improved control with a limited budget and this is accelerating the demand for spreadsheet management," said Ralph Baxter, CEO of ClusterSeven. "The endorsement of two leading organizations, Nationwide and Infosys, is a great testament to the business value of our solution."

"Spreadsheets are prolific, ubiquitous and highly useful to operations but pose critical risks to many financial processes," said Jamuna Ravi, Head of Europe for the Banking and Capital Markets Practice for Infosys Technologies. "In our role as strategic technology partner to Nationwide, we must help it choose the right solution to manage this risk. ClusterSeven Enterprise Spreadsheet Management offers the best capabilities and technology to ensure long-term business value."

About Nationwide Building Society

Based in Swindon, England, Nationwide Building Society is one of Britain's largest retail financial services firms and the world's largest Building Society. Nationwide Building Society is authorized and regulated by the Financial Services Authority. For more information, visit www.nationwide.co.uk.

About ClusterSeven

ClusterSeven (London and New York) provides enterprise-wide, strategic spreadsheet and data management software to financial institutions and Fortune 500 financial reporting divisions. ClusterSeven's software non-intrusively monitors and tracks spreadsheets to enable users to more effectively manage governance, risk and regulatory compliance obligations in order to generate revenue, enhance staff efficiency and boost productivity. For more information about the company, visit www.clusterseven.com.

About Infosys Technologies Limited

Infosys Technologies Limited (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 103,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit www.infosys.com.


Infosys Safe Harbor

Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31, 2009, and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.

For ClusterSeven

Sarah Wroble, 678-781-7236

Source: ClusterSeven