InfrasoftTech positioned in the Visionary

InfrasoftTech, an investee company of Baring India Private Equity Fund II Limited, today announced that it has been positioned as a "Visionary" in the "Magic Quadrant for International Retail Core Banking" report by Gartner, Inc.  The evaluation was based on completeness of vision and ability to execute. 

 

As a leading provider of BFSI product, solutions and services, InfrasoftTech remains committed to bring modern banking technology for its customers on an on-going basis, to assist the banks to stay competitive at all times. 

 

Hanuman Tripathi, Group Managing Director of InfrasoftTech said that “Gartner’s Magic Quadrant is a reputed standard in the international benchmarking for Core Banking systems. We are extremely delighted to see OMNIEnterpriseTM maintaining a lead among global products and being seen to be delivering value to our customers. Our roadmap to enrich OMNIEnterprise includes complete mobile enablement to serve wide spectrum of usage from Wealth Management to Financial Inclusion and enable real time transactions from mobile phones. We also wish to make large scale implementation of Cloud based Core Banking for smaller banks who do not wish to invest in IT infrastructure. We are very motivated with Gartner’s recent ratings and believe that these ratings would help our customers to get enhanced trust on InfrasoftTech’s offerings”.  

 

In 2007, Baring India Private Equity Fund II Limited, a leading private equity firm of international repute, acquired a majority stake in the Company. Since then, Infrasoft has undergone several transformations, which include expanding into Africa and other emerging markets, strengthening product portfolio and consolidating market leadership in Indian co-operative banks. 

 

 “Recognition by Gartner reaffirms OMNIEnterprise as the best core banking product for mid-sized banks” said Munish Dayal, Partner at Baring and also the Chairman of Infrasoft.  “We are making significant investments in research and development to keep our product aligned to the evolving needs of our customers. We are already the market leaders in the Indian co-operative banks segment and have significant market share amongst African Banks. The acknowledgment by Gartner has further motivated us to become the global leader in the core banking solution for mid-sized banks”