BANGALORE, May 6, 2016 /PRNewswire/ --
Named a Leader in This Magic Quadrant for the Ninth Time in a row
Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that it has been positioned as a Leader in Gartner's Magic Quadrant for Global Retail Core Banking (GRCB). Infosys Finacle has been named a Leader in this Magic Quadrant for the ninth time in a row. The assessment evaluated 17 global vendors on two key parameters: ability to execute and completeness of vision. Infosys has been placed furthest in completeness of vision within the Leaders Quadrant. Gartner's Magic Quadrant for Global Retail Core Banking report can be accessed here.
According to Gartner, "Leaders in the GRCB 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."
Andy Dey, President - Customer and Operations, EdgeVerve:
"We believe that being recognized as a Leader in Gartner's Magic Quadrant for nine times in a row is a recognition of our commitment to building world-class banking solutions. Today, significant number of banks need to modernize their core banking systems to keep pace with the evolving banking environment. Infosys Finacle offers an advanced and componentised banking solution to enable progressive modernisation that can give banks the agility for innovation and growth, simultaneously helping them achieve operational excellence."
Gartner, Inc., "Magic Quadrant for Global Retail Core Banking," Don Free, 21 April, 2016.
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 or other designation. 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.
About Infosys Finacle:
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 92 countries and serves over 848 million customers - 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.
To know more, visit: http://www.finacle.com
About EdgeVerve Systems Ltd:
EdgeVerve Systems, a wholly-owned subsidiary of Infosys, develops innovative software products and offers them on premise or as cloud-hosted business platforms. Our products help businesses develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. We power our clients' growth in rapidly evolving areas like banking, digital marketing, interactive commerce, distributive trade, credit servicing, customer service and enterprise buying.
Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom. Finacle, our universal banking solution, is the choice of financial institutions across 92 countries and serves over 848 million customers - nearly 16.5 percent of the world's adult banked population.
To know more, visit: http://www.edgeverve.com
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, 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, 2015. 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. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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 unless it is required by law.
SOURCE Infosys Finacle