Scores highest in all six use cases, among 20 companies reviewed
Bangalore, India – May 29, 2015
Infosys, a leader in consulting, technology, outsourcing and next- generation services, today announced that following the evaluation of its Finacle offering, Gartner Inc., a leading provider of research and analysis on the global information technology industry, has given Infosys the highest score for all six use cases in the Gartner Critical Capabilities for International Retail Core Banking1 assessment. The report evaluated 20 leading core banking companies for each of the use cases defined by Gartner.
The six use cases defined by Gartner are: Small Bank/Simple Use Case, Small Bank/Complex Use Case, Mid-size Bank/Simple Use Case, Mid-size Bank/Complex Use Case, Large Bank/Complex Use Case, and Worldwide Multinational Deployment Use Case.
Out of the 20 companies reviewed, Infosys is the only vendor that has received a product score above four (out of five) in Midsize Bank/Complex Use Case and Large Bank/Complex Use Case.
According to Gartner, this research examined seven critical capabilities that differentiate core banking products in various use cases: Component-Based Architecture, Internationality, Interoperability, Universal Functionality, Small Bank Segment Experience, Midsize Bank Segment Experience, and Large Bank Segment Experience. This Critical Capabilities document outlines major use cases for core banking systems and the differentiating capabilities that can bring greater focus to the early phases of core banking vendor and product selection.
Michael Reh, Senior Vice President and Global Head, Infosys Finacle:
“Today, technology is disrupting banking. Mobility, Big Data, Cloud, and Internet of things are radically changing the way banks are interacting with their customers and running their operations. To keep pace with customers’ expectations and achieve profitable growth, banks need to accelerate their modernization plans. We believe that these scores corroborate Finacle’s position as the best platform to support the transformation goals of banks across all segments. We are continuously investing in the latest and emerging technologies to ensure that our clients and we stay ahead of the curve.”
Don Free, Research VP, Gartner, Inc.:
“Few undertakings are as critical to a bank's success — or to a bank CIO's career — as a core banking renewal project. Bank CIOs face intense pressure to get core banking renewal done right, and get it done right the first time. To assist with this task, Gartner has developed this research document, which provides the means to matrix a bank's business and IT context with the critical capabilities of core banking systems.”
11Gartner, Inc., “Critical Capabilities for International Retail Core Banking,” by Don Free, May 7, 2015. The report can be accessed here.
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, outsourcing and next-generation services. 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$ 8.7 billion in annual revenues and 176,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Certain statements in this press 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, 2015 and our Forms 6- K for the quarters ended June 30, 2014, September 30, 2014 and December 31, 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. 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.
For further information, please contact: PR_Global@infosys.com