Finacle Blog

The DNA of such organizations is not only ingrained with clear and consistent vision and growth strategy, but also with highly motivated and committed staff. Blogs, thought papers and case studies reiterate the importance of effective communication channels between the management, front-end staff and customers. And sound technology often forms the spine of such successful banking enterprises.

With the market flooded with core banking solutions the Gartner Magic Quadrant comes as a very handy analysis for comparison and information on International Retail Core Banking (IRCB) solution providers. The Gartner Magic Quadrant IRCB report*  “assesses the suitability of core banking system providers and their product offerings to address the impact of these and other trends in the IRCB market.” Earlier this month, Gartner, Inc. released the “Magic Quadrant for International Retail Core Banking (IRCB)” report for 2009 which evaluates and rates the vendors based on their completeness of vision and ability to execute,  clearly positions vendors as Leaders, Challengers, Niche Players or Visionaries.

Though guided by the report, at the end of the day, banks looking towards core banking transformation to bring about cost benefits, operational efficiencies and customer satisfaction, will do well to seek a partner in possession of strong banking market understanding, with ample competence to work in a highly integrated environment and capable of executing on a strategic road map.

*Gartner, "Magic Quadrant for International Retail Core Banking"  by Don Free, 8 July 2009
Magic Quadrant Disclaimer
 
The Magic Quadrant is copyrighted 2009 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period.  It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant.  The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.