Infosys Ranked Number 1 in HFS Top 10 Banking & FS Sector Service Providers 2019
LONDON, Oct. 21, 2019 /PRNewswire/ -- Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, has been rated as the number 1 player in the HFS Top 10 Banking and Financial Services Sector Service Providers 2019. Infosys competed with 26 global service providers, to land the top spot. As part of the process, over 200+ BFS clients were consulted to weigh in on the decision according to the latest HFS research.
The rating was across a defined series of innovation, execution, and voice of the customer criteria. The rankings reflect the shift from support vendors to enablement partners to deliver a curated mix of IT capabilities and business domain knowledge that achieve business results.
Infosys, one of the fastest growing organisation among its peers, stands strong in helping BFS firms embrace end-to-end digital transformation supported by a growing cadre of localised resources.
Some of the key highlights from the ratings:
- Go to market approach based on sub-segments: Infosys' BFS business is organised by banking and capital markets, with sub-segment focus areas within each. Its Edgeverve subsidiary additionally offers digital banking products via Infosys Finacle.
- BFS is of strategic importance: BFS is Infosys' largest industry segment, representing an estimated 25% of revenue. It supports this critical sector with one of the largest talent pools and a massive global footprint, ranking #1 in this study.
- Strong expertise across the BFS value chain: Infosys has a deep and mature array of offerings across the BFS value chain along with their diverse IPs, acquisitions and partnerships. Its recent acquisition of Stater N.V. is beefing up its European mortgage support services capabilities.
- Building deep client relationships: References value Infosys' focus on building long-term relationships and willingness to invest.
Elena Christopher, Research Vice President at HFS Research, said, "More than a decade after the global financial crisis, banking and financial services (BFS) firms continue to struggle with profit and revenue growth. The role of service providers has consequently shifted from support vendors to enablement partners, with a growing expectation to deliver a curated mix of IT capabilities and business domain knowledge that achieve business results and return on digital transformation investments.
"Infosys demonstrated an industry-leading array of execution and innovation capabilities supported by validated voice of the customer references to achieve the number one spot in our study. Key proof points include notable ongoing investment in its BFS offerings and resources, strong client uptake of its regional technology and innovation centers, and ongoing development and adoption of its industry-specific intellectual property."
Mohit Joshi, President at Infosys, said, "We are delighted to have been rated as the Number 1 player in the HFS Top 10 BFS Sector Service Providers 2019. This recognition is a testament to our delivery capabilities, impeccable client relationship management and strong innovation skills. We are excited to continue helping our BFS clients embrace end-to-end digital transformation being turbocharged by our strategy of localisation. Our broad portfolio of service offerings and our strong platform suite which includes Finacle, Wingspan, EDGE products and Stater are and will continue to be a big differentiator for us."
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements mentioned in this presentation concerning our future growth prospects are forward-looking statements regarding our future business expectations 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 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, 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, and unauthorized use of our intellectual property and general economic conditions affecting our industry. 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, 2019. 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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