Glory, with UK offices on Chineham Park, has risen to number twenty in the 2018 IDC Fintech Top 100, announced at an invitation-only event at Finovate Fall in New York today. 2018 is the third year Glory has applied for inclusion, entering the rankings at 24 in 2016. In the three years it has been included in the list, Glory has consistently been the highest ranked company focused on cash technology solutions.
The annual rankings serve as a de facto resource for banks, insurance companies and capital markets firms making IT purchasing decisions. The IDC Fintech Top 100 includes vendors that derive more than a third of their revenue from financial institutions.
Cash remains important, accounting for around 80 percent of transactions worldwide. Recent research from McKinsey & Co (“Attacking the costs of cash” – August 2018) has demonstrated the continued importance and cost of cash processing to retail banks. The research article stated that cash costs still account for 5 to 10 percent of bank operating costs and concluded that ‘targeting cash costs will be crucial for financial institutions looking to stay competitive’.
Mike Bielamowicz, Chief Marketing Officer at Glory said, “We are delighted to have achieved our highest position to date in the IDC Fintech Top 100 Rankings. At Glory we recognise banks need innovative and effective solutions to address a fast-changing financial environment. Our solutions portfolio continues to expand to meet those needs, and now includes Teller Automation technologies, Assisted Service systems, solutions that enable back office optimisation, and the business intelligence tools our customers need to make smart branch and network configuration decisions.”
Read the full story here: https://www.glory-global.com/en-gb/news/2018/en_gb/glory-enters-idc-fintech-top-20-for-first-time/