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Infosys positioned as a Leader in the Magic Quadrant for International Retail Core Banking 2011

Evaluation Based on Completeness of Vision and Ability to Execute

Infosys, a global leader in consulting and technology, today announced that Gartner, Inc. has positioned Infosys in the Leaders Quadrant of the recently released 'Magic Quadrant for International Retail Core Banking (IRCB) 2011'* report for its Finacle™ core banking solution.

Gartner Inc. positioned vendors based on two broad parameters - ability to execute and completeness of vision. Finacle from Infosys emerged as a leader in the market among the 20 vendors evaluated.

According to Gartner, “The Leaders Quadrant is occupied by vendors that demonstrate strong development methodologies, and all of these vendors have a measurable strategy for disaggregating core banking software functionality into component-based constructs. Many vendors possess methodologies for quality assurance or are executing on a strategic road map to attain certification. Most vendors maintain a strong banking market understanding through methodical processes and have extensive marketing delivery and sales channels. Although there are many well-balanced vendors/products in this quadrant, some are in transition and possess evolving products, process maturity, or both.”

Finacle enjoys a unique proposition of partnering with banks to power up their Innovation agenda. Finacle’s position as the leader in this assessment is a result of proven industry leading product and delivery capabilities to enable banks to strive further effectively & rapidly on their innovation journey. With Finacle, client banks have been able to innovate on products and services by bundling new offerings and creating a differentiated customer experience.

Haragopal Mangipudi, Global Head - Finacle, Infosys, said, “We believe our position in the Leaders Quadrant is a great confirmation of Finacle’s continued commitment to excel as an innovation partner for banks. We believe this position stands testimony to our relentless efforts to ensure that our customers derive maximum returns from their technology investments and get a head start in the race for tomorrow.”

It is the company’s conviction that this assessment is indeed a reflection of Finacle’s success in the global core banking marketplace. Today, Finacle is supporting over 147 banks across 74 countries in their pursuit to offer customer centric innovative products and services.

*Gartner, Inc., Magic Quadrant for International Retail Core Banking, Don Free, September 21, 2011.