Published Date: October 06, 2022

Infosys Finacle - Rated a Leader in Digital Banking Processing Platforms for Retail and Corporate Banking

Bengaluru, India – October 06, 2022: Infosys Finacle, part of EdgeVerve Systems a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), today announced that it has been positioned as a Leader in both The Forrester Wave™: Digital Banking Processing Platforms For Corporate Banking, Q3 2022 and The Forrester Wave™: Digital Banking Processing Platforms For Retail Banking, Q3 2022 reports.

In these assessments, Forrester evaluated seven corporate and ten retail digital banking processing platforms respectively, on a comprehensive set of 33 criteria focusing on current offering, strategy, and market presence. The reports identified three key expectations that a digital banking processing platform (DBPP) is expected to satisfy in each case, and based on the evaluation, Infosys Finacle was positioned as a Leader in the DBPP space. The three key expectations are:

• Leading architecture that will meet future requirements of the bank, supporting rapid change and continuous transformation
• Broad range of off-the-shelf capabilities that allow banks to differentiate
• Empower banks’ technology teams with well-designed architectures to create rich banking differentiators via extensions

Findings from The Forrester Wave™: Digital Banking Processing Platforms For Corporate Banking, Q3 2022:

• EdgeVerve’s Finacle Digital Banking Solution Suite ranked highest among all vendors in the Current Offering category that comprises Off-the-shelf banking capabilities & differentiators, Supporting banking capabilities, APIs, Solution architecture, Integration and transformation, Solution Delivery, and Delivery resources criteria.
• Finacle Digital Banking Solution Suite also received the maximum score of five in 15 of the 33 criteria used for assessment which include Off-the-shelf Business Banking Differentiators; API Support; API Management; Application Architecture; Security; Integration (corporate banking); Banking Application Ecosystems; Testing, Upgrades, and Maintenance; Monitoring and Availability; Cloud-based Delivery; System Integrators; Planned Architectural and Technology Enhancements; Execution Roadmap; Delivery Model; and Revenue.
• The solution received the highest scores among all vendors in the criteria of Integration & Transformation and Solution Delivery.
• According to the Forrester research, 73% of business and technology professionals at financial services firms expect their organizations to maintain or increase investments in core banking applications over the next 12 months.

A complimentary copy of The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022 report can be accessed here.

Referring to Finacle Digital Banking Solution Suite, Jost Hoppermann, VP and Principal Analyst, Forrester, mentions in the report, “EdgeVerve (Finacle) brings APIs, integration, and application ecosystems to corporate banking. The strategy is strong on future plans for enhancing existing cloud-based offerings. The DBPP has differentiating business banking features such as preintegration of small business solutions for accounting and analytics via upSWOT. The DBPP offers strong integration capabilities including event streaming and has integrated with multiple third-party digital front-end solutions in the 12 months prior to this evaluation. Reference customers report a high degree of satisfaction with the vendor’s delivery and support, available APIs, out-of-the-box security functions, and willingness to deliver in DevOps environments. EdgeVerve (Finacle) is a good shortlist candidate for banks that look for a well-designed modern architecture and want to collaborate with a vendor using agile approaches.”

Sanat Rao, Chief Business Officer & Global Head, Infosys Finacle, said, “The banking industry is going through a deep digital reset. Yet, our research suggests only 26 percent of bankers believe they have been able to drive digital transformation at scale to reap the desired results. At Finacle, we are on a mission to help banks leapfrog digital transformation maturity, with an industry-leading suite of digital banking solutions and SaaS services, built on componentized and composable architecture. We believe that this recognition by Forrester is a testimony to the strength of Finacle’s offerings and the differentiated value we bring to the established, challengers, and neo-corporate banks.”

About Infosys Finacle

Finacle is an industry leader in digital banking solutions. We are a unit of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys (NSE, BSE, NYSE: INFY). We partner with emerging and established financial institutions to help inspire better banking. Our cloud-native solution suite and SaaS services help banks engage, innovate, operate, and transform better to scale digital transformation with confidence. Finacle solutions address the core banking, lending, digital engagement, payments, cash management, wealth management, treasury, analytics, AI, and blockchain requirements of financial institutions. Today, banks in over 100 countries rely on Finacle to help more than a billion people and millions of businesses to save, pay, borrow, and invest better. For more information, visit www.finacle.com

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, 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 COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, 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 and the US, 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, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. 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, 2022. These filings are available at www.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.

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