Infosys Positioned as a Leader in the Magic Quadrant for International Retail Core Banking 2012

Bangalore; India, London and New York - 4 October 2012

Gartner, Inc. has positioned Infosys as a Leader in the recently released 'Magic Quadrant for International Retail Core Banking 2012*' report for its Finacle(TM) core banking solution. The solution was recognized amongst 19 vendors / products evaluated in this study based on its ability to execute and completeness of vision.

Referring to the Magic Quadrant report, Don Free, Research Director, Gartner, said - "The significance and long-reaching effects of core banking solution renewal, and the relatively short tenure of bank CIOs, are forcing these core replacement decisions onto the laps of business leaders and boardroom members. The game is changing, and not everyone is comfortable with his or her new role, or perhaps knowledgeable enough to ask the right questions to avoid a poor choice. Successful banks will navigate the considerable risks associated with these replacement programs by keeping abreast of current technology trends and the state of the vendor landscape. 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."

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."

"We believe this assessment reaffirms Finacle(TM) as a clear market leader in the global core banking system market," said Haragopal Mangipudi, Global Head - Finacle, Infosys. "Finacle(TM) makes significant investments in research & development to ensure that our products are relevant to the evolving needs of customers in the banking industry.

This allows us to continually bring new offerings like Finacle(TM) Digital Commerce and Finacle(TM) Mobile Banking Solution to help our clients tap new growth channels. The acknowledgement for our vision and thought leadership in this space is a reflection of our commitment to develop solutions for tomorrow's banks."

Finacle(TM) partners with banks to transform the customer experience, arming them with a host of innovations. Today Finacle(TM) is the solution of choice for 165 banks across 78 countries and serves more than 359 million customers efficiently.

*Gartner, Inc., "Magic Quadrant for International Retail Core Banking," Don Free, September 26, 2012.

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