Infosys (NSE, BSE, NYSE: INFY) has been positioned as a Leader and Star Performer in the PEAK Matrix® report for Platform IT Services in 2022 for Banking and Financial Services (BFS), by Everest Group, a leading global research firm. Infosys was recognized for its ability to offer financial solutions, core digital capabilities, domain expertise, deep product understanding and deliver design-led experiences through BFS platform offerings powered by Infosys Cobalt and Infosys Finacle.
For the report, Everest Group assessed 18 leading service providers through a multi-phased research and analysis process for their vision and capabilities in the platform IT services in BFS sector. The evaluation brought to fore Infosys' mature set of tools and accelerators backed by upskilling initiatives to maintain quality and consistency of service offerings in cloud-native engagements.
Some of Infosys' key strengths recognized in the report are:
- Infosys has a multi-layered strategy of home-grown platform offerings (Infosys Finacle and Infosys Cobalt), product technology services for third-party platforms and leveraging FinTech partnerships to innovate for/with clients
- Significant investments have been made in strategic domain-backed platforms like mortgage as a service and retirements as a service
- A platform-centric 4D (digital, design, data, and domain) approach differentiates Infosys in integration and modernization engagements
- Resilience and business continuity capabilities are applauded by Infosys' clients
"Infosys' multi-layered strategy involving continuous development of home-grown platforms offerings, focus on Banking and Financial Services (BFS) third-party platforms partnerships through its product technology services unit, and innovation with clients leveraging its FinTech partnerships has helped it observe significant growth in its BFS platforms business. Infosys' strategic acquisitions to expand the cross-industry platform services capabilities, investments to strengthen the Infosys Innovation Network (IIN), and platformbased operating model approach towards transformation projects have made it a Leader on Everest Group's Platform IT Services in BFS PEAK Matrix® Assessment 2022," said, Ronak Doshi, Partner, Everest Group.
Mohit Joshi, President, Infosys, said, "Everest Group's PEAK Matrix® endorses our deep domain knowledge backed by the Infosys Cobalt portfolio of cloud services to contextualize cloud-native solutions catered and designed with custom range for our clients' businesses across BFS sector. With Cobalt in our inventory, we outline cloud native as an approach to design, build, and run applications based on loosely coupled architecture to bring the best of cloud computing into the finance industry. This recognition stands testimony to the evolution of our partnership with dedicated innovation labs and joint teams to collaborate and contribute to client engagements and active participation in business ecosystems through digital transformation and modernization initiatives that will continue to foster client confidence."
Shares of Infosys Limited was last trading in BSE at Rs. 1553.20 as compared to the previous close of Rs. 1579.75. The total number of shares traded during the day was 149612 in over 9472 trades.
The stock hit an intraday high of Rs. 1579.40 and intraday low of 1550.50. The net turnover during the day was Rs. 232989300.00.