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Infosys Finacle rated a leader in digital banking engagement solutions

Rated a leader for both digital banking engagement platforms and engagement hubs

Published: Sun 24 Oct 2021, 1:08 PM

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), announced that it has been positioned as a leader in both The Forrester Wave: Digital banking engagement hubs (DBEH), Q3 2021 and The Forrester Wave: digital banking engagement platforms (DBEP), Q3 2021 reports.

Highlights of The Forrester Wave: Digital banking engagement hubs (DBEH), Q3 2021:

- The DBEH, Q3 2021 report evaluates nine digital banking solutions on a comprehensive set of 30 criteria focusing on current offering, strategy, and market presence

- The report states that Finacle digital engagement hub, which is built on well-designed architecture offers banks multiple delivery options in the cloud, and also stands out for its preventive maintenance service

- Finacle digital engagement hub ranked highest among all vendors in the market presence category, reflecting installed base, countries with existing clients, and DBEH-related revenue

- Finacle digital engagement hub also received the highest scores in 20 of the 30 criteria used for assessment – which include API Support, API Management, Off-the-shelf retail banking services, Engagement Infrastructure, Application Architecture, Security, Planned technology enhancements, SaaS strategy, and Breadth of offering, among others

Referring to Finacle digital engagement hub, Jost Hoppermann, V P and principal analyst, Forrester, said: “EdgeVerve (Finacle) excels with engagement infrastructure on a well-designed architecture. In addition to a host of rich functional, technology, and architecture enhancements, the solution’s well-defined roadmap also features many differentiators such as hyper-scalable APIs and machine learning and deep learning for security purposes. The solution comes with strong API management, offers broad and rich retail, business, and corporate banking services, and excels with its top-tier engagement infrastructure. EdgeVerve (Finacle) is a good fit for banks with a preference for custom-built apps seeking an advanced solution that can be melted into their existing infrastructure.”

Sanat Rao, chief business officer and global head, Infosys Finacle, said: “Maximising digital engagement is key for banks to drive growth in this digital-first era. Our unified hub solution provides a robust foundation to achieve this across traditional, contemporary, and emerging channels. In fact, Finacle pioneered the digital engagement hub offering in the market. Over the years, the solution has helped banks of all sizes deliver superior experiences and deeper engagements. We believe that this recognition is a testimony to the leadership Finacle has achieved and the differentiated value we are creating for our clients and their customers.”

A complimentary copy of The Forrester Wave: Digital banking engagement hubs, Q3 2021 report can be accessed here.

Infosys Finacle

Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking Solution, on average, enjoy 7.2 per cent points lower costs-to-income ratio than others.

To know more, visit www.finacle.com

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