Infy banking product ranked market leader

Leading US-based research and consulting firm Celent has ranked Infosys a global market leader for winning the highest number of deals in 2012-13 for its Finacle universal core banking solution.

"Infosys' Finacle scored the highest in terms of number and aggregate value of deals won among 15 global vendors of core banking systems," the IT bellwether said in a statement here Wednesday.

The Celent core platform sales report's ranking was based on a weighted score linked to a bank size, location and modules installed.

"Our leadership ranking in Celent's 'Big League 2013' report testifies our global position as the number one core banking solution provider," Finacle global head M. Haragopal said on the occasion.

The global software major helps leading banks the world over to generate sustainable business growth with its flagship product's latest version.

'"As banks strengthen their focus on accelerating innovation and fine tuning their business models, our new version (11E) brings advanced functionalities, increased componentisation and enterprise-class capabilities to help them achieve their targets," Haragopal said.

According to Celent's retail and business banking analyst Stephen Greer, Finacle has shown its ability to implement in any environment and with an array of financial institutions and small, medium and large banks.

"Finacle's new version is a competitive product with configurability and flexibility through componentization. We are bullish about its potential next year too," Greer noted.

Finacle registered strong growth in the Asia-Pacific region with 60 percent of deals and had significant growth in Western Europe, accounting for 40 percent of all deals in the region.

"Finacle received the XCelent customer base award for its sales performance in Asia-Pacific and Western Europe," the statement added.