Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that it has been named a leader by Forrester Research, Inc. in ‘The Forrester Wave™: Customer-Centric Global Banking Platforms, Q3 2016’ report. Finacle was recognized as a leader among nine top banking platforms, which were evaluated on a comprehensive set of 40 criteria focusing on strategy, current offering and market presence.
Assessing the market, Forrester mentions in the report that, “Many banks’ existing banking platforms still leverage overly mature — and in some cases ancient — technologies that are neither up to all of these business requirements nor provide a great basis for innovation. Thus, the vast majority of banks are already working on transforming their application landscape or planning to start doing so any time now.”
- Infosys Finacle received the highest score among all vendors for Current Offering
- With a score of 4.35 (out of 5), Infosys Finacle is the only vendor who scored above 4 in the category of Current Offering
- Infosys Finacle received the highest score possible on the criteria of ‘Channels and Touchpoints’, ‘Customer –focused product configurator’ and ‘Market Approach’
Referring to Finacle, Jost Hoppermann, VP and Principal Analyst, Forrester, says in the report, “EdgeVerve’s Infosys Finacle banking platform excels at current offering. Today, Infosys Finacle’s traditionally strong architectural focus shows key ingredients such as service-oriented architecture (SOA), components, SOAP and RESTful APIs, and API management. Infosys Finacle’s product configuration and bundling capabilities are particularly sophisticated. A reference client explained that the solution allowed his firm to significantly reduce time-to-market for new banking products. One powerful differentiator: Finacle’s preventive maintenance services, which are unique in this market today.”
Andy Dey, President - Customers & Operations, EdgeVerve
“Digitization of our world, changing customer demands, increased competition and margin pressures are driving banks to prioritize long-pending modernization decisions. With Infosys Finacle solution suite, we offer banks an opportunity to progressively modernize their legacy application environment and gain new capabilities to drive future growth. We believe, this assessment once again proves that Finacle is the stand out leader for banks looking to accelerate their digital transformation.”
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation, and accelerate growth in the digital world. Today, Finacle is the choice of banks across 94 countries, and serves over 848 million consumers – estimated to be nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address core banking, online banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 banks in the world reveals that institutions powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.
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