Infosys Positioned as a Leader in the Magic Quadrant for International Retail Core Banking 2012
BANGALORE, India, LONDON and NEW YORK, October 4, 2012 /PRNewswire/ --
Gartner, Inc. has positioned Infosys as a Leader in the recently released 'Magic Quadrant for International Retail Core Banking 2012*' report for its Finacle™ core banking solution. The solution was recognized amongst 19 vendors / products evaluated in this study based on its ability to execute and completeness of vision. The report can be accessed at - http://www.infosys.com/finacle
Referring to the Magic Quadrant report, Don Free, Research Director, Gartner, said - "The significance and long-reaching effects of core banking solution renewal, and the relatively short tenure of bank CIOs, are forcing these core replacement decisions onto the laps of business leaders and boardroom members. The game is changing, and not everyone is comfortable with his or her new role, or perhaps knowledgeable enough to ask the right questions to avoid a poor choice. Successful banks will navigate the considerable risks associated with these replacement programs by keeping abreast of current technology trends and the state of the vendor landscape. This Magic Quadrant can assist CIOs by focusing on what matters most - the relevance of vendor and product attributes to the alignment of critical business strategies."
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."
"We believe this assessment reaffirms Finacle™ as a clear market leader in the global core banking system market," said Haragopal Mangipudi, Global Head - Finacle, Infosys. "Finacle™ makes significant investments in research & development to ensure that our products are relevant to the evolving needs of customers in the banking industry. This allows us to continually bring new offerings like Finacle™ Digital Commerce and Finacle™ Mobile Banking Solution to help our clients tap new growth channels. The acknowledgement for our vision and thought leadership in this space is a reflection of our commitment to develop solutions for tomorrow's banks."
Finacle™ partners with banks to transform the customer experience, arming them with a host of innovations. Today Finacle™ is the solution of choice for 165 banks across 78 countries and serves more than 359 million customers efficiently.
*Gartner, Inc., "Magic Quadrant for International Retail Core Banking," Don Free, September 26, 2012.
About the Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Infosys partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys 15 among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is Building Tomorrow's Enterprise® today.
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, 2012 and on Form 6-K for the quarter ended September 30, 2011, December 31, 2011 and June 30, 2012. 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.
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