Infosys, one of the India's leading software exporters, today announced that following the evaluation of its Finacle offering, Gartner Inc., a leading provider of research and analysis on the global information technology industry, has given Infosys the highest score for all six use cases in the Gartner Critical Capabilities for International Retail Core Banking1 assessment. The report evaluated 20 leading core banking companies for each of the use cases defined by Gartner.
The six use cases defined by Gartner are: Small Bank/Simple Use Case, Small Bank/Complex Use Case, Mid-size Bank/Simple Use Case, Mid-size Bank/Complex Use Case, Large Bank/Complex Use Case, and Worldwide Multinational Deployment Use Case.
Out of the 20 companies reviewed, Infosys is the only vendor that has received a product score above four (out of five) in Midsize Bank/Complex Use Case and Large Bank/Complex Use Case.
According to Gartner, this research examined seven critical capabilities that differentiate core banking products in various use cases: Component-Based Architecture, Internationality, Interoperability, Universal Functionality, Small Bank Segment Experience, Midsize Bank Segment Experience, and Large Bank Segment Experience. This Critical Capabilities document outlines major use cases for core banking systems and the differentiating capabilities that can bring greater focus to the early phases of core banking vendor and product selection.
Michael Reh, Senior Vice President and Global Head, Infosys Finacle said, "Today, technology is disrupting banking. Mobility, Big Data, Cloud, and Internet of things are radically changing the way banks are interacting with their customers and running their operations. To keep pace with customers’ expectations and achieve profitable growth, banks need to accelerate their modernization plans. We believe that these scores corroborate Finacle’s position as the best platform to support the transformation goals of banks across all segments. We are continuously investing in the latest and emerging technologies to ensure that our clients and we stay ahead of the curve."
Don Free, Research VP, Gartner, Inc. said, "Few undertakings are as critical to a bank's success - or to a bank CIO's career - as a core banking renewal project. Bank CIOs face intense pressure to get core banking renewal done right, and get it done right the first time. To assist with this task, Gartner has developed this research document, which provides the means to matrix a bank's business and IT context with the critical capabilities of core banking systems."
Shares of the company gained Rs 7.6, or 0.38%, to trade at Rs 2,021.90. The total volume of shares traded was 171,066 at the BSE (3.24 p.m., Friday).
