Gartner positions Finacle in the Leaders Quadrant in Magic Quadrant for International Retail Core Banking

Bangalore - 15 July 2009

Infosys today announced that Gartner, Inc. has positioned Finacle core banking solution in the Leaders Quadrant of the recently released ‘Magic Quadrant for International Retail Core Banking (IRCB)’ report. 1

The Gartner Magic Quadrant IRCB report “assesses the suitability of core banking system providers and their product offerings to address the impact of these and other trends in the IRCB market.”

As per 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 or are executing on a strategic road map to attain certification. Some higher-rated vendors share conspicuous operational organization approaches that are relevant to the business and show a clear willingness to own and be accountable for a successful customer experience.”

Haragopal M, Global Head - Finacle, Infosys Technologies Ltd., said, “We believe our position in the Leaders quadrant is testimony to our strong commitment to the retail banking industry. Our end-to-end transformational approach, strong focus on process and quality methodologies, and comprehensive product functionality enable banks to achieve their future development and growth strategies. Leading banks across the world have chosen Finacle to fuel their business transformation initiatives and we believe this report by Gartner further reiterates our differentiating strengths.”

Magic Quadrants depict markets using a two dimensional matrix that evaluates vendors based on their completeness of vision and ability to execute. The evaluation began with 39 candidates for the IRCB Magic Quadrant for 2009 and resulted in a qualified group of 23 combinations of vendors and products that represent the major movers in retail core banking systems.

As a leader in banking transformation, FinacleTM has a global footprint across 62 countries and has been acknowledged among the leaders in the core banking solution space by top analysts. FinacleTM is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award, The Asian Banker IT Implementation Award and The Banking Technology Judge’s Special Award for ‘Innovative Use of IT’.

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