Bangalore, India – August 16, 2016: Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that it has been named a leader by Forrester Research, Inc. in ‘The Forrester Wave™: Customer-Centric Global Banking Platforms, Q3 2016’ report. Finacle was recognized as a leader among nine top banking platforms, which were evaluated on a comprehensive set of 40 criteria focusing on strategy, current offering and market presence.
Assessing the market, Forrester mentions in the report that, “Many banks’ existing banking platforms still leverage overly mature — and in some cases ancient — technologies that are neither up to all of these business requirements nor provide a great basis for innovation. Thus, the vast majority of banks are already working on transforming their application landscape or planning to start doing so any time now.”
- Infosys Finacle received the highest score among all vendors for Current Offering
- With a score of 4.35 (out of 5), Infosys Finacle is the only vendor who scored above 4 in the category of Current Offering
- Infosys Finacle received the highest score possible on the criteria of ‘Channels and Touchpoints’, ‘Customer –focused product configurator’ and ‘Market Approach’
Referring to Finacle, Jost Hoppermann, VP and Principal Analyst, Forrester, says in the report,
“EdgeVerve’s Infosys Finacle banking platform excels at the current offering. Today, Infosys Finacle’s traditionally strong architectural focus shows key ingredients such as service-oriented architecture (SOA), components, SOAP and RESTful APIs, and API management. Infosys Finacle’s product configuration and bundling capabilities are particularly sophisticated. A reference client explained that the solution allowed his firm to significantly reduce time-to-market for new banking products. One powerful differentiator: Finacle’s preventive maintenance services, which are unique in this market today.”
Andy Dey, President – Customers & Operations, EdgeVerve
“Digitization of our world, changing customer demands, increased competition and margin pressures are driving banks to prioritize long-pending modernization decisions. With Infosys Finacle solution suite, we offer banks an opportunity to progressively modernize their legacy application environment and gain new capabilities to drive future growth. We believe, this assessment once again proves that Finacle is the stand-out leader for banks looking to accelerate their digital transformation.”
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned product 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 consumers – estimated to be nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address core banking, online 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 banks in the world reveals that institutions 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
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 the United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2016. 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 August 16, 2016, 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.
For further information, please contact:
+91 80 4156 3998
Paul de Lara
+1 (510) 944 4596