The report assessed 14 global vendors across 23 key parameters spread across four categories Customer Centricity, Product Management, Operational Flexibility, and Enterprise Support. Finacle was ranked a ‘Best-in-Class’ provider in the Product Management and Operational Flexibility categories. The report notes that the robustness and proven scalability of the Finacle architecture, coupled with its ease of configuration and rich user interface, made the solution a notable entry among very capable core banking products.
• Finacle scored highly on product management capabilities, which are critical for banks to build and manage innovative financial products.
• Finacle’s operational flexibility, specifically its localization capability, was acknowledged in the report. This capability allows banks to easily configure products to meet local or regional regulatory and business requirements.
• Finacle was also recognized for its ability to enable banks to easily design and configure business processes.
Rajashekhara V. Maiya, Associate Vice President and Head Finacle Product Strategy, Infosys Finacle:
“A rapidly changing environment and increasingly sophisticated customer demands are driving banks to reconfigure their business model. However, most large banks are constrained by legacy technology. They are hesitant to undertake core banking modernization due to high complexity and costs. Finacle, with its componentized structure, simplifies the transformation journey for large banks and creates competitive advantage.”
Robert Hunt, Senior Research Director, CEB TowerGroup:
“Modern core banking systems enable adaptability and agility by providing a flexible and configurable platform on which to develop strategies and products. Infosys Finacle was a strong performing core solution in the report, earning two ‘Best-in-Class’ ratings for Product Management and Operational Flexibility and receiving high scores for the two remaining categories.”
Technology Assessment Disclaimer
CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated “best in class.” CEB TowerGroup research publications consist of the opinions of CEB TowerGroup’s analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Infosys (infosys.com) is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended September 30, 2013. These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
Paul De Lara - Infosys, UK
P: +44(0)20 7516 2748 - E: Paul_deLara[.]infosys.com.
Ken Montgomery - GolinHaris, USA
P: +1 415-318-4399 - E: KMontgomery[.]GolinHarris.com.