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Infosys, Active.AI Join Forces to Transform Banking Services
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Infosys Finacle, the banking platform of Infosys Limited’s (INFY - Free Report) subsidiary, EdgeVerve Systems, recently announced that it has entered into a partnership with Singapore-based fintech firm, Active.AI, to upgrade banking services. The jointly developed offering will help financial institutions use artificial intelligence (AI) to enhance customer experience.
Changing the Banking Experience
In particular, Finacle and Active.AI will work closely to develop conversational banking services through chat- and voice-based interfaces across digital channels. Finacle digital channels solutions, such as Finacle Online Banking and Finacle Mobile Banking, will ensure the latest solution is available in multiple languages.
Other benefits from this new offering will include access to pre-integrated banking services and pre-trained data models. Moreover, it will allow end users to interact with machines to perform critical banking tasks such as payment of bills and transfers.
Post the demonetization announcement by Prime Minister Narendra Modi, India has been increasingly using cashless transactions and digital payments. We believe this opens a huge expansion opportunity for Finacle, which forms the backbone of the country’s banking and financial institutions.
Roughly 70% of the top 40 banks in India leverage Fincale, which is EdgeVerve’s most successful offering and also a major growth driver for Infosys. Its extensive reach and network helps it capitalize on the spiraling digitization of India’s trade. During fourth-quarter fiscal 2017, EdgeVerve delivered a strong performance, with 30 wins and 26 go-lives from both Finacle and Edge.
Troubling Times
Despite the strong performance of Finacle, Infoys is still facing trouble. Over the last few months, India’s premium technology behemoth has grabbed headlines for all the wrong reasons. Heightening fears involving H-1B visa program, conflict within the top brass, rumors of a stake sale by founders and bad press have been doing the rounds, maligning the reputation of the company.
The share price movement over the past three months mirrors these troubling times. Infosys’ shares have lost 1.4% against the Zacks categorized IT Services industry’s gain of 5.2%. Given its array of problems, we believe that Infosys is in for an even bumpier ride in the foreseeable future.
Weakening demand of its traditional business has put the company’s top line under pressure. Rapid proliferation of customizable internet-based software has been hampering Infosys’ traditional outsourcing business. U.S. President Trump’s stance on anti-immigration policies has made matters worse for India’s second largest IT firm.
Last month, Infosys announced plans to hire about 10,000 American workers over the next two years. The changing times are a direct threat to this Zacks Rank #4 (Sell) company’s economical cost structure, which focuses on using workforce on sites located abroad. Infosys’ profitability remains questionable till matters relating to the migration policy become clear.
Stocks to Consider
Some better-ranked stocks in the industry are listed below:
Applied Optoelectronics, Inc. (AAOI - Free Report) has an outstanding positive average earnings surprise of 118.3% for the trailing four quarters, beating estimates all through. It boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Broadcom Limited (AVGO - Free Report) has an average earnings surprise of 6.7%, beating estimates all through, over the trailing four quarters. It currently sports a Zacks Rank #1.
Adobe Systems Incorporated (ADBE - Free Report) holds a Zacks Rank #2 (Buy) and generated an average earnings surprise of 8.1% over the trailing four quarters, with beats each time.
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
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Infosys, Active.AI Join Forces to Transform Banking Services
Infosys Finacle, the banking platform of Infosys Limited’s (INFY - Free Report) subsidiary, EdgeVerve Systems, recently announced that it has entered into a partnership with Singapore-based fintech firm, Active.AI, to upgrade banking services. The jointly developed offering will help financial institutions use artificial intelligence (AI) to enhance customer experience.
Changing the Banking Experience
In particular, Finacle and Active.AI will work closely to develop conversational banking services through chat- and voice-based interfaces across digital channels. Finacle digital channels solutions, such as Finacle Online Banking and Finacle Mobile Banking, will ensure the latest solution is available in multiple languages.
Other benefits from this new offering will include access to pre-integrated banking services and pre-trained data models. Moreover, it will allow end users to interact with machines to perform critical banking tasks such as payment of bills and transfers.
Post the demonetization announcement by Prime Minister Narendra Modi, India has been increasingly using cashless transactions and digital payments. We believe this opens a huge expansion opportunity for Finacle, which forms the backbone of the country’s banking and financial institutions.
Roughly 70% of the top 40 banks in India leverage Fincale, which is EdgeVerve’s most successful offering and also a major growth driver for Infosys. Its extensive reach and network helps it capitalize on the spiraling digitization of India’s trade. During fourth-quarter fiscal 2017, EdgeVerve delivered a strong performance, with 30 wins and 26 go-lives from both Finacle and Edge.
Troubling Times
Despite the strong performance of Finacle, Infoys is still facing trouble. Over the last few months, India’s premium technology behemoth has grabbed headlines for all the wrong reasons. Heightening fears involving H-1B visa program, conflict within the top brass, rumors of a stake sale by founders and bad press have been doing the rounds, maligning the reputation of the company.
The share price movement over the past three months mirrors these troubling times. Infosys’ shares have lost 1.4% against the Zacks categorized IT Services industry’s gain of 5.2%. Given its array of problems, we believe that Infosys is in for an even bumpier ride in the foreseeable future.
Weakening demand of its traditional business has put the company’s top line under pressure. Rapid proliferation of customizable internet-based software has been hampering Infosys’ traditional outsourcing business. U.S. President Trump’s stance on anti-immigration policies has made matters worse for India’s second largest IT firm.
Last month, Infosys announced plans to hire about 10,000 American workers over the next two years. The changing times are a direct threat to this Zacks Rank #4 (Sell) company’s economical cost structure, which focuses on using workforce on sites located abroad. Infosys’ profitability remains questionable till matters relating to the migration policy become clear.
Stocks to Consider
Some better-ranked stocks in the industry are listed below:
Applied Optoelectronics, Inc. (AAOI - Free Report) has an outstanding positive average earnings surprise of 118.3% for the trailing four quarters, beating estimates all through. It boasts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Broadcom Limited (AVGO - Free Report) has an average earnings surprise of 6.7%, beating estimates all through, over the trailing four quarters. It currently sports a Zacks Rank #1.
Adobe Systems Incorporated (ADBE - Free Report) holds a Zacks Rank #2 (Buy) and generated an average earnings surprise of 8.1% over the trailing four quarters, with beats each time.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>