Published Date: January 21, 2011
New Study from Infosys and Efma Recognizes Customer Focused Innovation, Especially in the Area of Mobile and Payments, as a Clear Focus for Banks
London – January 21, 2011: Infosys Technologies Ltd and the European Financial Marketing Association (Efma) today announced the release of its second annual study on Innovation in Retail Banking.
Five key dimensions of banking innovation were evaluated by the study – product, process, channel, customer relationship management and customer experience.
Haragopal Mangipudi, Global Head – Finacle, Infosys Technologies said: “While the strategic importance of innovation for banks has been established, a clear vision and approach for strategic innovation are still quite rare. The study has also shed light on new approaches to co-creation of products with customers. Finacle is committed to the task of partnering banks – all the way – to drive their innovation priorities.”
Patrick Desmarès, Secretary General, Efma, added: “Innovation has grown as a priority for banks, and this is supported by increasing investments. There are numerous new examples of product, channel and process innovations, as well as cases of banks adopting innovative business models. Bankers across regions agree that innovation is the key to both efficiency and growth.”
The European Financial Marketing Association is a non-profit making association, formed in 1971 by bankers and insurers. Today, its members include over 80% of Europe’s largest retail financial institutions. Efma provides a professional forum that enables members to share experiences; promote best practices; and collaborate through alliances and partnerships. This is complemented by regular events, councils, detailed studies, a journal and a comprehensive website, packed with information and news.
Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This proven and effective framework for multi-disciplinary change enables banks to shift their strategic and operational priorities.
Finacle solutions address the core banking, e-banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide.
Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solutions in its class. These solutions, when associated with Finacle services, empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation. For more information, visit www.edgeverve.com/finacle
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions. These solutions focus on providing strategic differentiation and operational superiority to clients. As on December 31, 2010 the Infosys group employed about 127,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit www.infosys.com
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, 2010, 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.