Infosys Positioned as a Leader in the Magic Quadrant for International Retail Core Banking 2011
BANGALORE, LONDON, NEW YORK, September 23, 2011 /PRNewswire/ --
Evaluation Based on Completeness of Vision and Ability to Execute
Infosys, a global leader in consulting and technology, today announced that Gartner, Inc. has positioned Infosys in the Leaders Quadrant of the recently released 'Magic Quadrant for International Retail Core Banking (IRCB) 2011'* report for its Finacle™ core banking solution. The report can be accessed at - http://www.infosys.com/finacle
Gartner Inc. positioned vendors based on two broad parameters - ability to execute and completeness of vision. Finacle from Infosys emerged as a leader in the market among the 20 vendors evaluated.
According to Gartner, "The Leaders Quadrant is occupied by vendors that demonstrate strong development methodologies, and all of these vendors have a measurable strategy for disaggregating core banking software functionality into component-based constructs. Many vendors possess methodologies for quality assurance or are executing on a strategic road map to attain certification. Most vendors maintain a strong banking market understanding through methodical processes and have extensive marketing delivery and sales channels. Although there are many well-balanced vendors/products in this quadrant, some are in transition and possess evolving products, process maturity, or both."
Finacle enjoys a unique proposition of partnering with banks to power up their Innovation agenda. Finacle's position as the leader in this assessment is a result of proven industry leading product and delivery capabilities to enable banks to strive further effectively & rapidly on their innovation journey. With Finacle, client banks have been able to innovate on products and services by bundling new offerings and creating a differentiated customer experience.
Haragopal Mangipudi, Global Head - Finacle, Infosys, said, "We believe our position in the Leaders Quadrant is a great confirmation of Finacle's continued commitment to excel as an innovation partner for banks. We believe this position stands testimony to our relentless efforts to ensure that our customers derive maximum returns from their technology investments and get a head start in the race for tomorrow."
It is the company's conviction that this assessment is indeed a reflection of Finacle's success in the global core banking marketplace. Today, Finacle is supporting over 147 banks across 74 countries in their pursuit to offer customer centric innovative products and services.
*Gartner, Inc., Magic Quadrant for International Retail Core Banking, Don Free, September 21, 2011.
About the Magic Quadrant
The Magic Quadrant is copyrighted 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Finacle™ Universal Banking Solution
Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This framework for multi-disciplinary change, enables banks to shift their strategic and operational priorities.
Finacle solutions address the core banking, e-banking, mobile banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide. Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solution in its class. These solutions, when associated with Finacle services, empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation. For more information, visit http://www.infosys.com/finacle
About Infosys Ltd
Many of the world's most successful organizations rely on the 133,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended September 30, 2010 , December 31, 2010 and June 30, 2011.These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.