EdgeVerve Systems Positioned a Leader by Gartner® for Finacle Core Banking Solution

Named a Leader for the 14th Consecutive Time in the 2022 Gartner® Magic Quadrant™ for Global Retail Core Banking

Bengaluru, India – March 15, 2022

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys (NSE, BSE, NYSE: INFY), today announced that it has been recognized as a Leader in 2022 Gartner® Magic Quadrant™ report for Global Retail Core Banking for the 14th consecutive time, following the evaluation of its Finacle Core Banking Solution. Gartner comprehensively assessed five global core banking solution vendors on 65 variables and 321 data points spanning across ‘ability to execute’ and ‘completeness of vision’.

Finacle Core Banking is a cloud-native, componentized, and open APIs-driven solution. The solution is differentiated by its functionally rich modules, composable architecture, and an impeccable track record of powering innovations for financial institutions of all sizes. Banks gain a go-to-market advantage with Finacle’s flexible product factories that can help bring global innovations to life with simple configurations. Banks can also compose contemporary digital business models such as ‘Banking as a Service’ with ease, using Finacle’s open APIs, webhooks, and pre-integrated API management infrastructure. Today, financial institutions in more than 100 countries rely on the Finacle Core Banking solution to serve more than a billion people and millions of businesses.

Gartner analysts Vittorio D’Orazio and Don Free, mention in the report that, “Leaders in the global retail core banking market tend to possess a higher-level market understanding than peers that helps in lead generation and, ultimately, in achieving more sales. In addition, they make it their business to monitor market trends and funnel progressive innovation into their product roadmaps. Most of them possess software development quality certifications such as Capability Maturity Model Integration or are pursuing them. The Leaders are also, without exception, “thinking small” or targeting composable architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation. Leaders have high viability and great customer feedback. Leaders also focus on innovation — and the innovation trends that affect this particular market. For example, they can show visionary capabilities in managing new trends such as the ecosystem for open banking platforms by fostering the integration of their system with others’ products. They also respond to client demand for cloud deployment by gradually making their products more cloud-native with “APIfication” of the components and by introducing standards and the use of sandboxes.”*

Sanat Rao, Chief Business Officer & Global Head, Infosys Finacle said, “The digital divide between innovators with modern platforms and laggards struggling with legacy cores is widening rapidly. Thus, there is growing interest in embracing modern core platforms. Finacle delivers one of the most advanced digital banking foundations built on componentization, composability, and Open APIs. Our cloud-native solution and SaaS services help banks engage, innovate, operate, and transform better to scale digital transformation with confidence. We believe this leadership position is yet another testimony to our differentiated value proposition."

A complimentary copy of the Gartner Magic Quadrant for Global Retail Core Banking report can be accessed here.

Disclaimer

*Gartner, Magic Quadrant for Global Retail Core Banking, By Vittorio D'Orazio, Don Free, 9 February 2022.

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.

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Infosys Finacle

Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.7 billion accounts.

Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1000 banks in the world reveals that institutions powered by the Finacle enjoy 33 % higher returns on assets, 19 % higher returns on capital, and 3.9 % points lesser costs to income ratio than others.

To know more, visit www.finacle.com

 

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements 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 COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, 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, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. 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, 2021. 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. 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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