The solution was recognized from among 20 global vendors, who were evaluated on two key parameters: ability to execute and completeness of vision. On both the parameters, Finacle™ was positioned furthest within the Leaders Quadrant.The Gartner Magic Quadrant for International Retail Core Banking report can be accessed here.
According to Gartner,"Vendors in Leaders Quadrant tend to possess high-order market understanding they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possess software development quality certifications (such as CMMI) or are pursuing them. With few exceptions, the Leaders are progressively ‘thinking small’ or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation."
Don Free, Vice President, Gartner Inc.:
"Gartner has evaluated the competitive landscape of core banking vendors that service the future of the international retail banking market. This evaluation uncovers the leading strategies of these vendors and products, reveals their underlying product / service capabilities, and affirms their relevance to the changing conditions of the banking industry. This Magic Quadrant can assist CIOs by focusing on what matters most the relevance of vendor and product attributes to the alignment of critical business strategies and technology trends."
Haragopal M, Global Head Finacle, Infosys:
"At Infosys, we are very happy that Finacle is playing a crucial role in enabling our client banks to achieve their vision of scale, and helping them introduce new products and services, while simultaneously delivering a high-quality banking experience to their customers. Our consistent high rating over the years in the Gartner Magic Quadrant underlines our strong commitment to ensuring Finacle™ remains the solution of choice for the global banking industry."
*Gartner, Inc.,“Magic Quadrant for International Retail Core Banking,” Don Free and Ethan Wang, October 8, 2013
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Infosys (infosys.com) is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Certain statements in this release concerning our future growth prospects are forward-looking statements, 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 our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended June 30, 2013. These filings are available at 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. 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.
Paul de Lara - Infosys, UK
P: +44 2075162748 - E: Paul_deLara[.]infosys.com.
Ken Montgomery - GolinHarris, USA
P: +1 415-318-4399 - E: KMontgomery[.]golinHarris.com.