In the recently released Forrester Wave report - Retail Banking Platforms Q4 2006 (November 2006), Finacle from Infosys emerged as a leader. Finacle stood out for its convincing strategy and a very sound current offering.
In this study, the first of its kind, comparing the retail banking platform market, Forrester evaluated five global retail banking platform vendors. These vendors were short-listed through a rigorous multi-criteria selection process that included an in-depth appraisal of their coverage of the Forrester banking functions map, forward-looking architectural approach, success in 2005, global delivery capability and platform commitment.
According to Forrester, "Infosys earns the top slot in the first Forrester Wave of retail banking platforms. Finacle is a good shortlist choice for banks that: need a banking platform with comprehensive functionality; want a strong multichannel solution as part of the banking platform; or are seeking an agile banking platform that is able to cope with changing business needs."
Infosys Finacle ranked number 1 in overall strategy with a score of 3.95 (on a scale of 0 to 5) and also earned the top score in the areas of Multichannel Enablement, Architecture & Development and Systems integrators. Infosys is one of the two banking platform vendors that score highest for platform agility.
According to Merwin Fernandes, Vice President and Business Head Finacle, "We are delighted by this recognition. Finacle's proven strengths clearly include a flexible and open services based architecture, new generation technology, retail banking functionality, delivery depth and track record, and focused strategic direction. The report findings further reinforce Finacle's expertise in addressing the requirements of Tier 1 and Tier 2 banks across the globe."
The study evaluated the vendors across 83 parameters grouped into three key result areas - Strategy, Market Presence and Current Offering. Finacle scored high marks for its current offering, for its banking platform strategy, and for the depth and breadth of its banking functionality. The underlying architecture provided a very high degree of agility with regard to design, deployment, multichannel support, and business process management. The product supported integration, business process support, and flexibility in general through a number of standards-oriented tools developed in-house
Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging technology. The solution addresses the core banking, e-banking, treasury, and wealth management, CRM, and cash management requirements of retail, corporate and universal banks worldwide. Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible and scalable solutions in its class.
About Infosys Technologies Ltd.
Infosys (NASDAQ: INFY) is a leading global technology services firm. We provide comprehensive end-to-end business solutions that leverage technology for our clients, including consulting, design, development, software re-engineering, maintenance, systems integration, package evaluation and implementation and infrastructure management services. We also provide software products to the banking industry. Through Infosys BPO, our majority-owned subsidiary, we provide business process management services such as offsite customer relationship management, finance and accounting, and administration and sales order processing. Infosys has over 66,000 employees in over 40 offices worldwide. For more information visit
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