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Infosys - FinTech Services in Banking BPS
Vendor Analysis
published on Mar 29, 2017
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Report Overview:
This NelsonHall assessment analyzes Infosys' offerings and capabilities in FinTech services for the banking industry. Infosys is one of a number of banking services vendors analyzed in NelsonHall’s comprehensive industry analysis programs.
Who is this Report for:
NelsonHall’s Retail Banking BPS Vendor Assessment for Infosys is a comprehensive assessment of Infosys’ FinTech offerings and capabilities for the banking industry designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of FinTech services and identifying vendor suitability for banking industry (consumer banking, commercial banking, and capital markets) FinTech services RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Infosys’ FinTech services for banking offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
Infosys has been active in implementing automation capabilities for clients’ operations over the past ten years. These capabilities were productized as the first AssistEdge solution, which provided data extraction and updates.
In 2014, Infosys started its FinTech services initiative. Prior to that, each request for a FinTech service had been initiated by a client request or an Infosys operational improvement recommendation; and each request was addressed as a one-off initiative. Infosys wanted to standardize and reuse the IP which it had used to address these challenges, both proprietary and third party software. It started its Finacle Appstore to allow independent ISVs to develop solutions for Finacle, with access to the Finacle platform. In 2014, Infosys asked ISVs (some of which had worked with Finacle since 2004) and bank clients to place applications in the Finacle Appstore. Initially, there were twenty components in the Appstore.
FinTech services for banks are delivered from two units at Infosys:
- EdgeVerve
- Banking BPS unit (payments group).
EdgeVerve is Infosys' software product group which sells the Finacle solution and FinTech solutions, among other products.