Bangalore, London, April 16th, 2008 – Infosys today announced that Gartner, Inc. has positioned Finacle core banking solution in the Leaders Quadrant of the recently released ‘Magic Quadrant for International Retail Core Banking (IRCB) 2008’ report.
The Gartner Magic Quadrant IRCB report “assesses the suitability of core banking system providers and their product offerings to address the impact of these and other trends in the IRCB market.” Moreover, the report “has uncovered the leading strategies of these vendors/products, revealed their underlying product/service capabilities and affirmed their relevance to the changing conditions of the banking industry.”
As per Gartner, “Leaders are vendors that possess a strong banking market understanding, have a measurable strategy for disaggregating core banking software functionality into componentbased constructs, exhibit highly developed and certified development and delivery of quality methodologies or are executing on a strategic road map to attain certification, and most have extensive marketing delivery and sales channels. Some higher-rated vendors share conspicuous operational organization approaches that are relevant to the business and show a clear willingness to own and be accountable for a successful customer experience.”
Haragopal M, Business Head – Finacle, Infosys Technologies, said, “We believe Finacle’s position in the Leaders quadrant in the Gartner Magic Quadrant and its position as the solution of choice for leading banks across the world are a validation of its market leadership. Finacle’s transformational approach, state-of-the-art solution and comprehensive execution capabilities have set new global standards and we believe this report by Gartner further demonstrates our differentiating strengths.”
Magic Quadrants depict markets using a two dimensional matrix that evaluates vendors based on their completeness of vision and ability to execute. The Magic Quadrant has 15 weighted criteria that plot vendors based on their relative strengths in the market. The evaluation began with 32 candidates for the IRCB Magic Quadrant for 2008 and resulted in a qualified group of 22 combinations of vendors and products that represent the major movers in retail core banking systems.
Source:Gartner, Inc. April 2008 “Magic Quadrant for International Retail Core Banking, 2008,” Don Free The Magic Quadrant is copyrighted 2008 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, 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 and CRM 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. For more information, www.edgeverve.com/finacle
About Infosys Technologies Ltd
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a flat world. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 80,000 employees in over 39 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com
Infosys Technologies Ltd – Safe Harbor
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31 2007 and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
For further information, please contact:
Infosys Press Office – London
+44 (0) 207 067 0469