After a fierce battle over a Union Bank of California (UBC) order, Infosys's core banking solution, Finacle, has been chosen over Tata Consultancy Services' (TCS's) product. 

A TCS spokesperson declined to comment before Wednesday’s declaration of the company’s Q2 financial results.

Victory didn’t come easily to Infy, as TCS’s banking portfolio, Bancs, reportedly put up a good fight. Both companies have a fair amount of expertise and achievements in the financial services market. None of the involved companies revealed the estimated value of the deal, but sources suggest it could be somewhere between $10 million and $15 million.

UBC is quite a large banking player in the US, with 330 branch offices in California, and has recorded revenue of $2.6 billion for 2007. The Bank of Tokyo-Mitsubishi UFJ holds the majority stake.

The deal is a feather in the cap of the Indian IT industry, as UBC chose two Indian companies to bid for this important project, rather than US banking product companies. X