Infosys gets U.S. recognition

By agencies   |   Wednesday, 30 August 2006, 07:00 Hrs
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BANGALORE: Infosys today announced that it was ranked as the fastest growing technology and service provider (TSP) to the U.S. financial service market by research and analyst firm Gartner, Inc.

The report titled “Competition Intensifies Between Fast-Growing and Large IT Providers for Financial Service Engagements,” confirms that Infosys has grown to become one of the top 3 fastest growing providers of systems integration services to the U.S. financial services market.

“At Infosys, we believe that the financial services industry is experiencing a continuously ‘flattening world’, with companies therefore having to make substantial changes to their business to succeed and stay ahead of the market,” said Ashok Vemuri, senior vice president and head of Infosys’ Banking & Capital Markets business unit. “With regulations increasing and technologies breaking down communication barriers, companies need to transform themselves to compete effectively. For over 25 years we have serviced the financial services industry and over this period, we have deepened our strategic focus on this sector by continuously enhancing our portfolio of solutions and services so our clients can navigate these changes and be leaders in the industry,” he added.

Using its Global Delivery Model (GDM) for implementation of its many relationships within the financial services market, Infosys is now the fastest growing TSP to the industry. Having transitioned its services’ core strategy from a general-IT focus to a solutions portfolio provider, Infosys has expanded its offerings from back-office related work to infrastructure, front office and mid-office work for the financial services industry.

“Our solutions address critical business imperatives for the banking and capital markets industry today, including compliance, risk management and data quality,” Vemuri continued. “In today’s ‘flattening world,’ we help companies win by efficiently addressing the new set of operational priorities. We believe these latest rankings reinforce our market position among those providing technology, consulting and outsourcing services to the financial services industry.”

Globally, Financial Services is Infosys’ largest vertical. Clients include several of the top commercial and investment banks, securities firms and credit card issuers in the U.S., Europe and Australia. Companies in the financial services industry leverage Infosys’ expertise in visioning, architecting and delivering business and technology solutions to help them increase their operational efficiency, enable more effective customer management and lower their operational risk profiles.

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