Infosys Press Release (PR)  
Title: New Study by Infosys Finacle, Red Hat and Strategic Treasurer Finds Corporate Banking Digital Reset on the Rise 
Author: ['Infosys Limited'] Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), and Red Hat, the world's leading provider of open source solutions, in association with the Strategic Treasurer, a leading consulting firm in the area of treasury and risk management, launched a research report titled ‘Leaping Forward – Scaling Digital Transformation in Corporate Banking’. The report features insights from senior corporate banking executives from over 125 leading global banks and financial services companies.<|endoftext|> The report found that the transaction lines of business such as cash management, payments, trade, and supply chain finance, have become key for corporate banks. Over a third of the respondents believe that they will drive growth by anywhere between 10-25 percent in the next three years. The report findings highlight that a full suite of digital self-service treasury offerings will be the primary differentiator for corporate banks by 2026. In addition, the ability to provide tailored solutions for client businesses has also emerged as a top priority, with over 90 percent of the respondents believing it to be essential or very important. With open banking paradigms and API-led possibilities unlocking real-time information flows, banks will need to consolidate existing capabilities, embrace new business models, and adopt new digital strategies to gain competitive edge.<|endoftext|> Read the full report here.<|endoftext|> Key highlights include:  An overwhelming majority of 72 percent of respondents believe the corporate banking future will be about building a platform business by tapping new and diverse partner networks within a larger ecosystem  While most incumbent financial institutions are comfortable leading innovations largely in their traditional lines of business such as lending, deposits, trade & supply chain finance, more than half of the respondents have stated that it is the new entrants, particularly fintechs, that will lead innovation into cash management (56 percent), and payments business (81 percent)  Corporate banks recognize the importance of modern technologies including mobility and advanced analytics as essential to their organizations; however, over half of them acknowledged that adoption is still lagging  64 percent of respondents rated legacy technology and system integration as key challenges with respect to innovation  While 84 percent of respondents have acknowledged open APIs either as essential or very important, only 10 percent seemed to have achieved successful implementation  Artificial intelligence was rated as important by over 60 percent respondents, with relevance across a host of use-cases, ranging from risk mitigation to driving new possibilities in customer engagement and experiences  Nearly 50 percent of respondents said that their open finance strategies have yet to scale and add value beyond regulatory compliance mandates.<|endoftext|> Mohit Joshi, President, Infosys, said, “The research report findings mirror the insights we have gained from our interactions with banks across the world – there is no doubt that corporate banking is going through unprecedented change. Scaling digital transformation with ecosystem-driven business models, offering contextual solutions, expanding self-service options, and driving extensive automation have emerged as the key priority areas for all types of banks, globally. With our highly rated corporate banking product suite and comprehensive services offerings, leading banks have chosen Finacle to help them meet these priorities and to navigate their next.”  Sanat Rao, Chief Business Officer & Global Head, Infosys Finacle, said, “The corporate banking industry is going through a deep reset. Consequently, corporate banks are in a state of continual digital transformation. However, in our research, only 26 percent of bankers said they had been able to deploy digital transformation at scale and reap the desired results in areas such as lending and cash management. At Finacle, we are helping banks leapfrog digital transformation maturity, with an industry-leading suite of corporate banking solutions and SaaS services. Today, we are partners to many marquee corporate banks across segments - established and challengers – helping them transform into open enterprises with our functionally rich, cloud-native and API - driven solution suite.”  Craig Jeffery, Head Researcher at Strategic Treasurer, said, “Banks are looking to upgrade their operating platform. The movement is massively oriented to open platforms and open banking. Open platforms support the easy orchestration of ecosystems through open architecture, speeding the development cycle. Based upon the survey results, adoption is expected to more than double in use to over 70 percent within just five years.”  Vincent Caldeira, Chief Technologist, Financial Services Industry, Red Hat, said, “In recent years, corporate banking customers have come to expect the same level of digital experiences for their business accounts as in their daily life. As a result, financial institutions have had to invest in building differentiated end-to-end customer engagement in their digital offering, while supporting corporate customers in reducing costs, improving their straight-through processing, and building more resilient systems to counter business and operational risk. This report underscores the growing importance of modern technology, from cloud computing and open APIs to artificial intelligence, in helping banks overcome challenges to innovation and digital transformation. At Red Hat, we believe that open-source technology is at the core of this new digital age and provides the powerful foundation that corporate banks need to fuel the next generation of digital banking services.”  Red Hat and the Red Hat logo are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.<|endoftext|> About Infosys Finacle  Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.<|endoftext|> Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.<|endoftext|> To know more, visit www.finacle.com  Safe Harbor  Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.<|endoftext|> Media contacts:  For more information, please contact: PR_Global@infosys.com  


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