Finacle™ from Infosys positioned in Leaders Quadrant in Magic Quadrant for International Retail Core Banking 2009

Bangalore, London, New York 15th July 2009: 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)’ report.¹

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.”

As per Gartner, “Leaders are vendors that possess a strong banking market understanding, have a measurable strategy for disaggregating core banking software functionality into component based constructs, exhibit highly developed and certified development and delivery of quality methodologies or are executing on a strategic road map to attain certification. 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, Global Head – Finacle, Infosys Technologies Ltd., said, “We believe our position in the Leaders quadrant is testimony to our strong commitment to the retail banking industry. Our end-to-end transformational approach, strong focus on process and quality methodologies, and comprehensive product functionality enable banks to achieve their future development and growth strategies. Leading banks across the world have chosen Finacle to fuel their business transformation initiatives and we believe this report by Gartner further reiterates 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 evaluation began with 39 candidates for the IRCB Magic Quadrant for 2009 and resulted in a qualified group of 23 combinations of vendors and products that represent the major movers in retail core banking systems.

As a leader in banking transformation, Finacle™ has a global footprint across 62 countries and has been acknowledged among the leaders in the core banking solution space by top analysts. Finacle™ is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award, The Asian Banker IT Implementation Award and The Banking Technology Judge’s Special Award for ‘Innovative Use of IT’.

¹ Gartner, Inc. ‘Magic Quadrant for International Retail Core Banking’ by Don Free, July 8, 2009

About the Magic Quadrant

The Gartner Magic Quadrant is copyrighted 2009 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 helps banks WIN IN THE FLAT WORLD by providing solutions and services that enable a shift in their strategic and operational priorities. The offerings address the comprehensive technology-led business transformation requirements of retail, corporate and universal banks worldwide by maximizing their opportunities for growth, while minimizing the risks that come with such large scale transformation. For more information, visit

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 104,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit

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 including our Annual Report on Form 20-F for the year ended March 31 2009 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.

Press Contact

For further information, please contact:
Infosys Press Office – Asia Pacific
Joya Ahluwalia
Infosys Technologies Ltd, India
+9180 41057527
Infosys Press Office – New York
Daylan Burlison
Infosys Technologies Ltd,
+1 510 565 8558
Infosys Press Office – London
Shamima Begum
Golin Harris
+44 (0) 20 7067 0469