Infosys positioned as a leader in Magic Quadrant for International Retail Core Banking by Gartner, Inc
Bangalore, India – Nov 20, 2014: Infosys, a leader in consulting, technology, outsourcing and next generation services, today announced that following the evaluation of Finacle™ Core Banking Solution, it has been positioned as a leader in Gartner’s Magic Quadrant for International Retail Core Banking report1. This is the eighth time in a row that Infosys has been named a leader in this Magic Quadrant.
Gartner says “The evaluation began with 63 product candidates for the 2014 Magic Quadrant, and resulted in a qualified group of 20 vendor/product offerings that represent the major movers in the retail core banking system market.” Infosys is highest in execution and furthest in vision within the Leaders Quadrant.
Gartner’s Magic Quadrant for International Retail Core Banking (IRCB) report can be accessed
According to Gartner “Leaders in the IRCB market tend to possess a high-order market understanding — that is, they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possesses software development quality certifications (such as CMMI) or is pursuing them. Without exception, the Leaders are progressively "thinking small" or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation.”
The report further states that – “This Magic Quadrant assesses the suitability of core banking system providers and their product offerings to address current IRCB market trends. This evaluation uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities, and affirms their relevance to the changing conditions of the banking industry.
Michael Reh, Senior Vice President and Global Head of Infosys Finacle:
“We believe that being evaluated as a leader eight times in a row and positioned highest in ability to execute and furthest in completeness of vision within the Leaders Quadrant clearly underlines our commitment to deliver a world-class banking solution. Globally, banks are investing in modern platforms to lead business transformations that will help them achieve true customer centricity and competitive differentiation. Finacle offers an advanced and comprehensive banking platform that meets these requirements. Today, our solution is the choice of banks across 84 countries and serves over 450 million customers - nearly 18 percent of the banked adult population. We are continuously investing in the latest technologies to ensure that Finacle and our clients stay relevant and ahead of the curve.”
1Gartner, Inc., “Magic Quadrant for International Retail Core Banking,” Don Free and Ethan Wang, 13 November, 2014.
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