Infosys Technologies Strengthens Position in FinTech 100
Ranking Moves Up to 14, Reinforces Infosys' Leadership Position within Financial Services Industry
Bangalore, India, November 28, 2007 - Infosys Technologies (NASDAQ: INFY), a world leader in consulting and information technology services, today announced that for the fourth consecutive year it has been named to the FinTech 100, an international annual listing of the top 100 global application and service providers that derive more than one third of their revenue from the financial services industry. Infosys ranked 14 on the annual list by American Banker and Financial Insights, up from 18 in 2006.
Infosys and its banking and capital markets organization (BCM) continue to exemplify leadership in providing services and solutions to the global financial services industry. As its customer base grows, Infosys BCM continues to offer targeted solutions, helping companies increase their operational efficiency and enable effective customer management, while minimizing operational risk. The group has received multiple accolades from its global financial services customers.
Infosys was lauded for its focus and success in driving the execution of key strategies resulting in growth and differentiation. The award was based on five key principles: (1) Mobilizing change through executive leadership; (2) Translating strategy into operational terms; (3) Aligning the organization around its strategy; (4) Motivating to make strategy everyone's job, and (5) Governing to make strategy a continual process.
"We are honored on being recognized by the FinTech 100 once again," said Ashok Vemuri, senior vice president and head of Infosys Banking and Capital Markets Group. "Our higher ranking this year is attributed to our concerted client-focused efforts to offer customized, process-driven solutions that enable financial institutions to maximize their revenues while ensuring compliance with increasingly demanding corporate and regulatory standards."
"We have seen the continued growth and acknowledge that Infosys is one of the rising vendors, said Jeanne Capachin, vice president, Global Banking and Insurance, Financial Insights. Infosys has us impressed with its rapid rise through the rankings. It was 28th in the 2005 ranking, 18th in 2006 and has risen to 14 in 2007-a sure indicator of growing client preference, adds Capachin."
Each fall, SourceMedia's American Banker and research firm Financial Insights, an IDC company, publish this comprehensive ranking, based on data gathered from vendor surveys and original research and market analysis conducted by Financial Insights.