Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of
Infosys (NYSE: INFY), today announced that it has been named a leader by Forrester Research, Inc. in ‘The Forrester Wave™: Digital Banking Engagement Platforms, Q3 2017’ report. EdgeVerve was recognized as a leader for its Finacle suite of digital banking solutions among 11 leading global banking platforms, which were evaluated on a comprehensive set of 35 criteria focusing on strategy, current offering and market presence.
- EdgeVerve received the highest score among all vendors in the categories of ‘Strategy’ and ‘Market Presence’ that indicates the reach of the Finacle solution
- EdgeVerve received the highest score in 18 of the 35 criteria used in the assessment – these include Analytics, Directly Supported Channels, Gamification, App Architecture & Infrastructure, Identification & Authentication, and Live Scalability
- Finacle suite of solutions was also rated highest among the evaluated solutions in the criteria of market approach, installed base, technology, architecture, and delivery
Referring to EdgeVerve and Finacle suite of solutions, Jost Hoppermann, VP and Principal Analyst, Forrester mentions in the report, “EdgeVerve delivers across a number of capabilities, and shows no deep gaps… It broadly supports retail, corporate and private banking; and its build-in analytics have visibly improved compared with our earlier Forrester Wave... (Artificial intelligence) AI is a key element of EdgeVerve’s plans: Robo-advisors for wealth management and conversational AI for voice banking are only two examples… When talking to reference customers, we noted their satisfaction with the solution’s security features and functions.”
Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle, said, “To succeed in today’s dynamic environment, banks need to undertake comprehensive digitization and re-design customer journeys by leveraging modern technologies such as AI, analytics and IoT. With Finacle solution suite, we provide banks with comprehensive digital banking capabilities to innovate continuously and design frictionless banking experiences. We believe that this rating by Forrester is a testimony of our ability to deliver market-leading solutions to help banks accelerate their digital banking transformations.”
About Infosys Finacle
Infosys Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned 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 customers – estimated to be nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-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 world banks reveals that banks 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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