Infosys Technologies Ltd, a global leader in consulting and services, today announced that Gartner, Inc. has positioned Infosys in the Leaders Quadrant of the recently released 'Magic Quadrant for International Retail Core Banking (IRCB) 2010' report for its Finacle(TM) core banking solution.
The Gartner Magic Quadrant IRCB 2010 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." Per the September 13th report by Don Free, Research Director, 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. Most leaders 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."
Haragopal Mangipudi, Global Head - Finacle, Infosys Technologies Ltd., said, "We believe Finacle's global leadership in the core banking space has been reiterated by our position in the Leaders quadrant in the Gartner Magic Quadrant IRCB 2010 report. Finacle's innovation capabilities, transformational approach, state-of-the-art solution, and excellent execution track record have renewed benchmarks across the world and we believe this report by Gartner further demonstrates our differentiating capabilities."
The evaluation for the Gartner Magic Quadrant report for International Retail Core Banking 2010 began with 40 candidates and resulted in a qualified group of 18 combinations of vendors and products that represent the major movers in the retail core banking system market.
Finacle has a unique proposition to clients as an Innovation Partner. With Finacle, client banks have been able to innovate on products and services by bundling new offerings and creating a differentiated customer experience.
Being the most scalable open systems based solution in the world, Finacle has continuously raised the standards of operational efficiency. It provides an interoperable and open architecture that ensures tight integration with delivery channels and other existing systems. Finacle's extensibility capabilities facilitate customization and enable faster time to market for banks - right from conception to product delivery.