BENGALURU, India, August 23, 2017 /PRNewswire/ --
EdgeVerve Systems recognized by
Gartner for the 10th consecutive year for Finacle Core Banking
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 Banking1 following the evaluation of its
Finacleâ„¢ Core Banking solution. Gartner evaluated eleven Core
Banking vendors on the criteria of "Completeness of vision" and
"Ability to execute". This is the 10th consecutive time that
EdgeVerve Systems (Infosys Finacle) has been positioned as a Leader
in this Magic Quadrant.
According to Gartner, "Leaders in the global retail core banking
market tend to possess a high-order market understanding. They make
it their business to monitor market trends and funnel progressive
innovation into their product roadmaps. Most of them possess
software development quality certifications (e.g., CMMI) or are
pursuing them. The Leaders are also, without exception, "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. Leaders
have high viability and great customer feedback. They also focus on
innovation - and the innovation trends that affect this particular
market. They especially focus on trends with visionary capability
in managing the ecosystem for open banking platforms by fostering
open banking with their products and services and in a
collaborative environment with partners."
Gartner's Magic Quadrant for Global Retail Core Banking report
can be accessed here.
Vittorio D'Orazio, Gartner Research Director mentions in
the report, "Most senior executives are investing in digital
business transformation, or in other words, building a digital
bank. This involves digital technology, but is much more about
changing strategy and business models. A digital bank makes money
in new ways, for example, by monetizing digital identity and
sharing business services with ecosystem partners to empower them
to build new products and services. Banks as platforms, or open
banking, will be needed to make this happen. CIOs cannot execute a
new business strategy and business model without a modern CBS that
has the agility needed to open up the back office to the front
office."
Sanat Rao, Chief Business
Officer and Global Head, Infosys Finacle said, "To realize the
goal of truly digital transformation, banks need to take a holistic
approach. They need to add digital capabilities that will open up
new opportunities for growth and profitability, as well as renew
the legacy core engines to support continuous innovation across the
organization. With Finacle Core Banking solution, our focus has
been on building a world-class componentized core banking solution
that provides our clients the flexibility to manage this
transformation in a risk-mitigated manner. We believe that Gartner
recognizing our solution as a Leader is a testimony of our ability
to deliver market- leading solutions."
References
1Gartner, Inc., "Magic
Quadrant for Global Retail Core Banking," Vittorio D'Orazio and Don
Free, 10 July, 2017.
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
Infosys 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 94 countries and serves over 848 million
customers - estimated to be 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 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 94
countries and serves over 848 million customers - estimated to be
nearly 16.5 percent of the world's adult banked population.
To know more, visit www.edgeverve.com or
https://www.infosys.com/newsroom/press-releases/Pages/leader-finacle-global-retail-core-banking.aspx
Safe Harbor
Certain statements in this 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, 2017. These filings are
available at 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. In
addition, please note that the date of this press release is
mentioned at the beginning of the release, and 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.
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