Infosys (NYSE: INFY), the global leader in next-generation digital services and consulting, today announced that is has been positioned as a Leader in Everest Group’s PEAK Matrix® for Open Banking IT Service Providers Assessment 2020. Infosys was recognized for its targeted location-specific go-to-market (GTM) strategies, talent upskilling, local market understanding across key geographies, investments in IP/accelerators and partnerships with cloud, security and technology platform vendors.
For the research, Everest Group assessed 24 relevant banking IT service providers, through a multi-phased research and analysis process which was based on capturing a comprehensive picture of the vendors’ service focus, key intellectual property/solutions, investments, partnerships, and case studies.
The report highlighted Infosys’ strengths as:
Targeted location-specific GTM, talent upskilling and reskilling efforts, and local market understanding have led to growth in key geographies such as the Netherlands, Australia, and Hong Kong.
Investments in IP/accelerators such as Infosys banking API platform, Infosys microservices platform, Finacle banking solution suite, and open banking API testing tool have strengthened its capability to deliver end-to-end open banking engagements.
Clients have cited price competitiveness and solutioning flexibility as key areas of strength for Infosys.
Infosys has made investments in partnering with cloud, security, and technology platform vendors such as RedHat, MuleSoft, GCP, AWS, and Ping Identity and domain-driven partnerships with industry bodies such as BIAN. This has strengthened its market position as an end-to-end integration partner for open banking transformation projects.
Well-defined employee skilling strategy for open banking themes by investing in customer trainings and vendor certifications.
Displayed credible proof points of market success in enabling financial institutions embrace open banking themes to become a lifestyle partner.
Mohit Joshi, President, Infosys, said, “Being recognized as a Leader in the Everest Open Banking PEAK Matrix® clearly demonstrates the strengths and capabilities we possess in this space. Infosys continues to significantly invest in the open banking talent, solutions and platforms and is proud to deliver the best outcomes for the work we do with our partners. I strongly believe that our endeavor in enabling financial institutions embrace open banking themes along with our own Finacle suite of solutions, have contributed towards this position.”
Ronak Doshi, Vice President, Everest Group, said, “A mix of regulatory and market forces is driving BFS firms to develop an open and collaborative environment to build a financial services/products ecosystem. Open banking has been a key enabler in changing the role of BFS firms from financial services providers to lifestyle experiences orchestrators. Significant market success led by a location-specific go-to-market strategy, a robust IPs/solutions suite to deliver end-to-end open banking engagements, and a well-defined employee skilling strategy on domain-specific themes have helped Infosys secure a position as a Leader on Everest Group’s Open Banking IT Services PEAK Matrix® Assessment 2020.”
Infosys’s dedicated Center of Excellence for Open Banking previews, analyses and adopts the latest trends in open banking to deliver industry leading products and solutions like Infosys Banking APIs Platform, Infosys Microservices Platform and Infosys Finacle Banking Solution Suite, to name a few. The strategic partnership with industry bodies and membership with Open Banking forums help in further strengthening the capabilities of the company.
Everest Group’s PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products & solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix to gauge and calibrate their offerings against others in the industry or market. Leading organizations around the globe trust these comparative assessments because of their unbiased evaluation of factors such as vision, capabilities/functionality, talent availability, market success/impact, and cost.
A complimentary custom version of Everest Group’s PEAK Matrix® Open Banking IT Service Providers 2020 research report can be accessed here.