Infosys’ Fintech Ecosystem leverages the power of AND to meet innovation goals

• Award Recipient

  Infosys – iStartUp FinTech Ecosystem

• Accolade

  

  Winner

• Category

  

  Innovation Ecosystem

• What put this entry over the top

  The Infosys Fintech Ecosystem is an Infosys-led initiative to set up a marketplace for fintech players, incubators, and accelerators to connect to an existing wealth of markets and clients across geographies. Infosys won the Innovation Ecosystem HFS OneOffice™ Award because of the unique ecosystem Infosys created to deliver to clients’ complex needs.

The Situation: It is not easy to deliver everything on a platter to clients, however, Infosys works towards getting there. Infosys’ Fintech Ecosystem enables collaboration on joint service offerings and solutions development and drives breakthrough transformations in the banking and financial services (BFS) sector.

The Infosys Fintech Ecosystem is an Infosys-led initiative to set up a marketplace for fintech players, incubators, and accelerators to connect to an existing wealth of markets and clients across geographies.

Infosys won the Innovation Ecosystem HFS OneOffice™ Award because of the unique ecosystem Infosys created to deliver to clients’ complex needs.

The solution: Collaboration with fintech partners is the key to formulating and launching go-to-market products

Infosys built a fintech ecosystem, a varied marketplace with several components, including fintech business incubation, a sandbox, large partnerships, accelerators, and the Finacle App Center. This marketplace provides access to innovative use cases across different clients for financial institutions, and it offers an opportunity for technology partners to showcase their innovation in this ecosystem. Infosys caters to the entire services spectrum—advisory, living labs (rapid prototyping, systematic innovation experiments resulting in MVPs, contextualized showcasing of ideas), co-creation (joint incubation of products and offerings, pilot engagements), and industrial (end-to-end implementation across client organizations, longer-term support, maintenance).

Infosys has collaborated with various partners to deliver offerings for retail and commercial banking, regulatory and compliance, capital markets, and cards and payments. Infosys’ transformation solutions bring together the right fintechs with customers to solve end-to-end problems. For example, Infosys built an exclusive partnership with FinLocker, a fintech specializing in financial fitness for consumer mortgage readiness, to bring high-value data-driven insights and solutions to mortgage and lending businesses. Partner engagement models are referrals, resellers, or professional services. The chunk of Infosys’ fintech is delivered via reseller and professional services models.

Currently, Infosys has 133 engagements with various clients across different geographies (the Americas, Israel, Australia, Europe, and APAC). It aims to achieve at least 200 partnerships, with a vision to make the Infosys Fintech Ecosystem a key service offering enabling seamless transformation for both clients and partners.

The Results: Infosys’ FinTech Ecosystem impacted stakeholders across the spectrum of its clients and their end customers

Some prominent collaboration examples with notable business impacts include:

• Infosys helped a client, a large Netherland-based bank, develop a password-less authentication solution. Infosys collaborated with one of its partners to create the Touch ID/Face ID solution on iOS devices. It also tested the solution and integrated features from its partner organization to enable flawless configurations and connectivity.
• Infosys supports a premier US-based digital payment network with its technology and strategic migration to the cloud.

The Bottom Line: Infosys’ Fintech Ecosystem enables Infosys to emerge as a single-point solution for BFS clients while keeping pace with rapid innovation to stay relevant

BFS enterprises are always challenged by the ever-growing cycle of technology partners they need to find, select, implement, and manage. The Infosys Fintech Ecosystem can help clients orchestrate their technology partnerships while Infosys continuously evolves and keeps an eye out for emerging technologies and players. The commercial agreements (exclusivity and acquisitions) will also be an important point of consideration for managing success in the long run.