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 industryspecific 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."
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