HCL Technologies

Infosys Finacle Positioned as a Leader in Core Banking Solution

Infosys announced that following the evaluation of Finacle Core Banking Solution, it has been positioned as a leader in Gartner’s Magic Quadrant for International Retail Core Banking report1. This is the eighth time in a row that Infosys has been named a leader in this Magic Quadrant.

Gartner says “The evaluation began with 63 product candidates for the 2014 Magic Quadrant, and resulted in a qualified group of 20 vendor/product offerings that represent the major movers in the retail core banking system market.” Infosys is highest in execution and furthest in vision within the Leaders Quadrant.

According to Gartner “Leaders in the IRCB market tend to possess a high-order market understanding — that is, they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possesses software development quality certifications (such as CMMI) or is pursuing them. Without exception, the Leaders are progressively “thinking small” or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation.”

The report further states that – “This Magic Quadrant assesses the suitability of core banking system providers and their product offerings to address current IRCB market trends. This evaluation uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities, and affirms their relevance to the changing conditions of the banking industry.