Bangalore, India – Nov 20, 2014
Infosys, a leader in consulting, technology, outsourcing and next generation services, today announced that following the evaluation of Finacle™ Core Banking Solution, it has been positioned as a leader in Gartner’s Magic Quadrant for International Retail Core Banking report1. This is the eighth time in a row that Infosys has been named a leader in this Magic Quadrant.
Gartner says “The evaluation began with 63 product candidates for the 2014 Magic Quadrant, and resulted in a qualified group of 20 vendor/product offerings that represent the major movers in the retail core banking system market.” Infosys is highest in execution and furthest in vision within the Leaders Quadrant.
Gartner’s Magic Quadrant for International Retail Core Banking (IRCB) report can be accessed here.
According to Gartner “Leaders in the IRCB market tend to possess a high-order market understanding — that is, they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possesses software development quality certifications (such as CMMI) or is pursuing them. Without exception, the Leaders are progressively "thinking small" or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation.”
The report further states that – “This Magic Quadrant assesses the suitability of core banking system providers and their product offerings to address current IRCB market trends. This evaluation uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities, and affirms their relevance to the changing conditions of the banking industry.
Michael Reh, Senior Vice President and Global Head of Infosys Finacle:
“We believe that being evaluated as a leader eight times in a row and positioned highest in ability to execute and furthest in completeness of vision within the Leaders Quadrant clearly underlines our commitment to deliver a world-class banking solution. Globally, banks are investing in modern platforms to lead business transformations that will help them achieve true customer centricity and competitive differentiation. Finacle offers an advanced and comprehensive banking platform that meets these requirements. Today, our solution is the choice of banks across 84 countries and serves over 450 million customers - nearly 18 percent of the banked adult population. We are continuously investing in the latest technologies to ensure that Finacle and our clients stay relevant and ahead of the curve.”
1Gartner, Inc., “Magic Quadrant for International Retail Core Banking,” Don Free and Ethan Wang, 13 November, 2014.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$8.25 billion in annual revenues and 165,000+ employees, is Building Tomorrow's Enterprise® today.
Certain statements in this release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2014 and on Form 6-K for the quarter ended September 30, 2014. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that the date of this press release is mentioned at the beginning of the release, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
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