Finacle from Infosys positioned in the Leaders Quadrant in the Magic Quadrant for International Retail Core Banking Solutions

Bangalore, London - 2 February 2007

Finacle from Infosys, today announced that Gartner, Inc. has positioned Finacle core banking solution in the Leader Quadrant in the recently released ‘Magic Quadrant for International Retail Core Banking (IRCB) 2006’ report.

Magic Quadrants depict markets using a two dimensional matrix that evaluates vendors based on their completeness of vision and ability to execute. The Magic Quadrant has 15 weighted criteria that plot vendors based on their relative strengths in the market. Magic Quadrant for IRCB assesses the impact of transition and volatility in the market, vendor consolidation trend, and a technology evolution that promises to enhance business agility on key international vendors and their products that serve this market.

According to Gartner, “Leaders are vendors that possess a strong banking market understanding, have a measurable strategy for disaggregating core banking software functionality into component-based constructs, exhibit highly developed and certified development and delivery of quality methodologies, and have extensive marketing delivery and sales channels. Leaders also share conspicuous operational organization approaches that are relevant to the business and a willingness to extend resources to ensure a successful customer experience”.

“We believe our position in the Leaders quadrant in the Gartner Magic Quadrant is another key milestone that unambiguously reinforces Finacle’s leadership of the retail core banking solution space. Finacle’s strategic approach and execution capabilities have always been globally recognized and we believe this analysis from Gartner once again demonstrates our differentiating strengths. We also believe that this reinforces the confidence reposed in us by leading banks across the world who have successfully leveraged Finacle to differentiate and lead in this competitive marketplace”, said Merwin Fernandes, Vice President and Business Head - Finacle, Infosys Technologies.

Vendor qualification for inclusion in the 2006 IRCB Magic Quadrant was centered on market-established players and some relatively new entrants that show strong promise. The evaluation began with 31 candidates for the IRCB Magic Quadrant for 2006 and resulted in a qualified group of 18 combinations of vendors and products that represent the major movers in retail core banking systems. The selection criteria served to cull vendor products that possessed sufficient market traction and momentum, supported basic retail functionality and international support, and provided evidence of short-term viability.

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