The Final GIT Report [UPDATED]

GLOBAL Infotech – Private and Confidential – August 2014 INTERNAL DIISCUSSION PURPOSES ONLY. NOT FOR CIRCULATION.

CAPTURING CHINA’S FINTECH FUTURE Refining Global Infotech’s competitive positioning in the Chinese Fintech market NEWHUADU BUSINESS SCHOOL – SUMMER 2014


Global Infotech FINTECH COMPETITIVE ADVANTAGE ASSESSMENT

INTRODUCTION EXECUTIVE SUMMARY SECTION ONE SECTION TWO SECTION THREE

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TABLE OF CONTENTS

Introduction Our assignment’s goal and approach.

Executive summary Recommendations and justifications.

Section one The global IT market is comprised of four sub-industries in which market leaders have utilized similar practices that have allowed them to expand both domestically and internationally.

Section two Through a formulated matrix, we measured common trends in American FinTech companies and pinpointed characteristics of FinTech companies that yield real return. In essence, we have found growth areas that GIT can focus its resources on in order to experience these returns.

Section three Through better talent acquisition methods and stronger expansion plans, GIT can sharpen its competitive edge in the global market.




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Our goal is to help Global Info Soft improve its competitive positioning through utilization of American practices.

Global Infotech‘s situation and complication are… They are a market leading financial services IT provider in China, with nearly all of the country’s largest banks as customers and embryonic market expansion plans in both new markets as well as geographies. The company’s ability to expand is hampered by a lack of talent acquisition (an industry wide problem) and comprehension of Western business practices.




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Executive Summary

Through our engagement we have found that GIT is a leading financial technology (referred to as “FinTech”) company who has a history of experimenting with expansion plans to exercise on market opportunities. However, we have found through our comparable company matrix that GIT can do this by adopting two key trends that are followed by top preforming American FinTech companies. These two trends include the strategic usage of the human resources and using common expansion methods to capitalize on future business opportunities. The common expansion methods include international and domestic acquisitions, rebranding, and strong web presence. In addition, GIT can manage HR as a strategic component by enhancing internal communications, finding basis of measurement of HR’s success through surveys and professional HR analytics program, and creating strong training and talent acquisition programs. In essence, GIT can become the world’s leading FinTech company by adopting these solutions.




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Globally, the IT market is a six trillion RMB industry which is segmented into 4 sub-industries. GIT focuses on three of them.

Information Technology

Computer Commercial Services

Computer Software Computer Storage and Peripherals

Consumer Services and Internet

• The solutions sub-industry provides project-based services, outsourcing, and support training services.

• The software sub-industry is currently being dominated by cloud computing with SAAS, PAAS, IAAS leading the charge.

• Data management services provides storage systems and data centers for clients who are in a need.




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In each industry, market leaders implement a particular value proposition to maximize profitability and competitive advantage over rivals.

Software LeadersCompany Country Market ShareMicrosoft United States 29.2%IBM United States 14.4%Oracle United States 13.9%SAP Germany 8.3%Ericsson Sweden 4.0%Symantec United States 3.2%HP United States 2.8%EMC United States 2.6%Adobe United States 2.2%CA Technologies United States 2.2%Vmware United States 2.1%Fjitsu Japan 1.6%Sales force.com United States 1.4%SAS United States 1.3%Hitachi Japan 1.3%Other 9.6%** PwC Global 100 Software Leaders (sample of 25 companies)

• IT outsourcing, project‐based services, and system integrations has become more lucrative due to the globalization, privatization, deregulation, and technological innovation trends faced by clients.

• Management records and transactions in the most efficient manner.

• Recently shifted from hardware products to software and solutions.

Solutions LeadersCompany Name Country Market shareIBM United States 7.4%Booz Allen Hamilton United States 7.0%Accenture Ireland 5.9%Deloitte United Kingdom 5.0%Capgemini France 3.8%KPMG Netherlands 3.2%Hitachi Japan 2.3%HP EDS United States 2.2%Oracle Corp. United States 2.0%**Standard & Poor's Industry Survey:CCS

Solutions Software Data Management Services LedersCompany Name Country Market shareIBM United States 14.5%Accenture Ireland 14.1%Cognizant United States 5.9%Tata Consultancy India 5.2%HP Enterprise United States 4.1%Infosys India 3.9%Atos France 2.9%Capgemini France 2.8%Wipro India 2.7%Logica United Kingdom 2.4%** Standard & Poor's Industry Survey: Data Storage and peripherals

Data Management

VALUE PROPOSITIONS




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Computer Commercial Services: IT outsourcing, project-based services, and system integrations have become more lucrative due to the globalization, privatization, deregulation, and technological innovation trends faced by clients.

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Proportions of Capital Spending in CCS Operating Revenue (in billion of RMB)

Cloud computing is one of the major growth drivers in the industry due to results of huge cost savings.

System integration experiencing growth due to proliferation of technology advancement.

Project-based services include business consulting, system integrations, network consulting and integration and custom application development.

Outsourcing includes services that the client needs in order to perform a portion of the client’s data processing and data management tasks.

Support/training services include hardware deployment and support, software deployment and support, and IT education and training.




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Computer Software: Due to the strategic usage of the three main components in cloud computing, cloud systems will be the leading product in the computer software industry.

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Operating Revenue (in billion of RMB)

Cloud computing continues to grow due to lower upfront cost.

SAAS is steadily taking over the market comparing to “on premise” solutions.

Database management system is another leading product.

Cloud Computing System

IaaS PaaS SaaS Host Build Consume

IaaS – hardware and software that powers servers, storage networks, and operating systems.

PaaS – tools and services designed to make coding and deploying applications.

SaaS - Applications designed for end-users delivered over the web.




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Computer Storage and Peripherals: Due to the complexity of data being generated by companies, data storage will maintain a stable growth in the IT market.

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Operating Revenue (in billion of RMB) Big Data Technology Stack

Most servers are only utilizing a fraction of their processing power due to “server sprawl” which can be solved through virtualization.

Data storage will maintain a stable growth in the IT industry.

Recently shifted towards software and services due to customizable solutions.

The amount of data that enterprises are generating is growing exponentially.

Regulations such as Sarbanes-Oxley requires companies to store information for at least seven years which has caused a higher demand for data management.

Technological advances of disk storage devices have resulted in a decline in the costs of raw storage per gigabyte.




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Within the IT industry across the board, market leaders have these four characteristics:

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Provide expertise on Products

Provide resources to one or many markets

Flexibility through product offerings

Superior customer service

• Experienced employees deliver complete solutions.

• IT companies have a strong position in their respective markets and strong brand name that customers relate to.

• Provide flexible client service through hotline and educational programs.

• Clients’ complex problems need complex products and solutions.




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Companies such as Bloomberg, applied the four characteristics internally and externally, companies are able to capitalize on their market share

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Provide expertise on products

Superior customer service Provide resources to one or more markets

Flexibility through product offerings

Bloomberg has customer service teams available 24/7 to answer calls in 160 countries.

Offerings include Bloomberg: Professional Service, News, Television, Markets, Law, View, Tradebook, & Beta.

Bloomberg provides consulting services to clients.

Consulting services focused in product usage.

Bloomberg provides services to firms all over the world.




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We effectively developed a company comparable matrix that attempts to capture strong characteristics held by companies similar to GIT.

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American Financial Technology CompaniesCognizant Technology Solutions Corporations3.5 Moody's Analytics WAUSAU Financial Systems CRIFDiebold, Inc. TransFirst Holdings Primatics Financial Aegis Global CommunicationsSunGard Pegasystems Inc. Indecomm Corporation Calypso TechnologyCA Technologies Interactive Data Croporation Novantas, Inc. FundtechTotal System Services, Inc. Charles River Development FIS BancTec, Inc.DST Systems Computer Services Inc. Fiserv, Inc. Bottomline Technologies, Inc.SAS institute Virtusa Coporation NCR Corporation Vasco Data Security Oakbrook International Inc.Jack Henry & Associates, Inc. Collabera Lender Processing Services Carlisle & Gallagher Consulting GroupGenpact Investment Technology Group First Data Corporation ARGO Data Resource CorporationMisys NIIT Technologies Inc. CoreLogic Scorto CorpBroadridge Financial Solutions, Inc. Eagle Investment Systems LLC Equifax ViewpointeFICO NICE Actimize ACI worlwide, inc. EFT Source, Inc.Syntel TransCentra, Inc. SS&C Technologies ScivantageWolters Kluwer Financial Services ISGN Corporation Experian Group eMASON, Inc.Digital Insight (Financial Services) COCC IPC Systems, Inc. Bloomberg Financial L.P.Mcgraw Financial Eze Castle Integration OpenLink Financial LLC Markit LtdAdvent Software BancVue Ltd Harland Financial Solutions IHS Inc.

The comparable matrix includes a universe of US companies that operate in the same industry as GIT. In addition, the comparable matrix was filtered down to the criteria that fits the current picture of GIT in its respected market. After interviewing managers and directors, we have properly assumed that GIT is a market leader in its industry and provides a range

of products to meet their client’s needs.




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The comparable matrix was narrowed by choosing market leading FinTech companies that are diversified in their product offerings

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Market Share Product Diversification Other

Top 10

Active Market Participants

We categorized the companies in three tiers of market leaders The “Top 10” tier includes the top 10 market leaders. The “Active Market Participants” tier includes

companies that are not in the top ten but still have a competitive market position.

The “Other” tier includes the remaining companies that are not included in the previously mentioned tiers.

The FinTech Product Shelf includes all of the common categories of products and services that American FinTech Companies offer.

The list was developed through resources published by “The American Banker: Top 100 FinTech companies.”

We assumed that investments in three categories of products resembled diversification since an average American FinTech company provide three different categories of products to their clients.




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Conclusion: GIT has room to grow in capitalization and strategic use of HR by exercising opportunities to achieve a stronger market share and efficient work force

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Strong HR Usage High capitalization on market share

2.8

3.2 2.7

4.3 2.0

Top 10 Market LeadersCompany Market Share

Bloomberg Financial L.P. 13.6%FIS 8.4%Mcgraw Financial 8.0%NCR Corporation 5.2%Diebold, Inc. 4.5%SunGard 4.1%IHS Inc. 3.0%CA Technologies 2.9%Total System Services, Inc. 2.2%DST Systems 2.0%

Distribution of companies by Using the Lecturer Scale

During our analysis, we have found a common trend that the leading FinTech companies also treated their HR department as a strategic component rather than a pure-admin segment of the value chain.

We determined the quality of a company’s HR department by formulating an IT service matrix.

A common trend with the top ten market leaders is that most them used common expansion methods to capitalize on business opportunities.

85.3% of successful and diversified companies have strong HR




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Room for growth: GIT should exercise the following opportunities to sharpen its competitive edge in the global market in order to achieve a stronger market share and work force.

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Global InfoTech

GIT is facing an industry problem—talent acquisition.

In order to grow and attract competent workers, GIT should revamp it’s training program and develop a university program in which students are exposed to the technical knowledge in the FinTech industry.

GIT can capitalize on their market share by expanding in to international markets using strong and proven expanding methods.




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GIT can capitalize on business opportunities in three ways.

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Domestic Customer Acquisition

Web Presence Rebranding

Adopting proven methods of market expansion.

Company’s image reflects its core values.

Strong web presence can reinforce the company’s brand.




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GIT can capitalize on business opportunities adopting proven methods of market expansion.

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Building a direct sales

force

Securing Local

Partners

Acquisition

Building an international footprint

It lasted two weeks in Cameroon, but the project is currently postponed due to a language barrier. They

have to translate the software into French.

This project was to transform postal offices into postal banks

May 2013 collaboration with

Huawei in Cameroon. They Also have projects

in Burma.




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Although GIT is making the right moves in terms of vertical expansion it can become the leading FinTech company in Asia by experiencing successful business practices

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GIT’s services are in demand, but they don’t have enough

employees to undertake all of the potential projects.

They are now doing a project for a Life

Insurance company.

They have already targeted certain

small/medium banks (around 200).

They are currently negotiating

cooperation with government departments.

Better Market Position

Acquisition

Proactive workforce planning

Acquiring talent who fits in the

culture




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Fiserv, a FinTech company similar to GIT, used a domestic acquisitions approach to create value.

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The company's operations are highly concentrated in the US. Despite having a

strong solutions portfolio, the company has not been able to expand its presence significantly outside the US. In FY2012, it derived 93% of the total revenues from the US. Although the

company has international operations in eighteen countries, it was able to generate

only 7% of its revenues from these operations in FY2012. By contrast, its competitors Fidelity

National Information Services and Visa generated 20% and 45.1% of their total revenues from international operations,

respectively, in FY2012.

Founded in 1984 with 350

employees and worth $21 million.

By 2009 it was worth $4.7 billion

and employed over 19,000

people.

Fiserv has a broad portfolio of

products and services which

enable the company to

generate recurring revenue.

Fiserv has acquired 19 firms over the last nine years, including

one of it’s largest competitors.

Fiserv now has a 7.3 % market

share.




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Rebranding can lead to higher returns of higher value.

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0

10

20

30

40

50

60

70

Stock Price

Date

FICO Stock History

A company can become limited by a product-identified, a

geographically-identified, outdated

or misleading company name or

even logo.

Revitalizing the company's image, especially in an ever-changing industry such as IT, opens the opportunity to clarify the company's image, while allowing room for future growth and innovativeness.

"March 10, 2009: In the interest of clarity and consistency, Fair Isaac Corporation today announced that it has officially adopted the brand FICO as its corporate identity."

In just two months "Our stock has risen 80%, and analysts say the brand renewal was certainly a cause "It was very well received. It is serving its purpose as a source of energy internally as well as externally."

Rebranding




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Strong web presence will increase value through many aspects.

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Web Presence

Visibility

Reach

Customer Service

Competition

Credibility

• Customers can easily find your company.

• Available at any location. World wide access.

• Can contacted if

customers have questions or problems.

• Will set you apart from your competition. Can attract potential customers.

• Lets investors, employees, partners know that you are a serious business.




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Effective Human Resource Management through common practices will strengthen overall business plan

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Communications

Measurement

Talent Acquisition

Training • Finding a metric to

measure HR success will help companies allocate resources.

• Includes aligning, Quick Access to information, and Open Flow of Communications.

• Developing an effective approach to training will result in optimal delivery.

• Using innovative talent acquisition approaches, GIT can develop its own talent rather than acquiring talent.




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Communications: "Regardless of the changes in technology, the market for well-crafted messages will always have an audience." — Steve Burnett The Burnett Group

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Aligning

•Aligning conversations and employing communications in all directions gives upper management the opportunity to understand their workers more. •Informal discussions leads to closer relationships and higher employee loyalty.

Quick Access to Inform

ation •Managers who demonstrate

high levels of accessibility are more apt to have employees who feel comfortable stopping by for a quick chat to bring difficult issues, situations, or ideas to the attention to managers.

Ope

n Flow

of C

ommun

ications

• Organizations that with both highly effective. communication and change management practices are 2.5 times more likely to outperform their competition.

• These companies are 8 times more likely to continue exhibiting new behaviors and skills after changes are made.




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Xerox demonstrates great communications

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Xerox is aggressively reinforcing its core values worldwide. Informal face-to-face dialogue between senior management and employees at a multitude of levels is a key piece of that strategy.

“Measuring and sensing employee attitudes--and doing something about the feedback--is not for every company. Many organizations will not commit the prolonged attention and financial investment to continue the process.”

"High levels of motivation and satisfaction among our people will yield higher customer satisfaction. It's a closed loop that just keeps going on and on as long as we do something about the feedback.

There are no 'quick fix‘ solutions for achieving high levels of employee motivation and satisfaction," emphasizes former CEO and Chairperson, Mulcahy. "While we've been pleased with the survey results in comparison to external norms, continuous improvement is still needed. “

“




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Measurement: Using different metric systems such as the 5-point Likert scale provides effective means of measurement of HR initiatives such as talent acquisition programs and training.

• 5-point Likert scales are used to measure the various variables and data.

– The Likert Scale is a psychometric scale commonly involved in research that employs questionnaires. It is the most widely used approach to scaling responses in survey research, such that the term is often used interchangeably with rating scale.

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Measurement: Through surveys, GIT can effectively measure work force productivity

• Measurement of

• HRM effectiveness should be periodically updated and refined. Measurement tools should be in place that gauge the impact of culture initiatives and their influence on employee behavior.

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Attitude

Opinion

Satisfaction

Engagement

Performance Appraisals

360

Employer improvement

Employee Exit

Employee Benefits

Professional Development

Assess employees’ emotions and feelings within the workplace.

Discover views and beliefs held by employees.

Determines the root cause of dissatisfaction issues, and target them accordingly. Measure how engaged, eager, and dedicated employees are with respect to their job. Management evaluates and provides feedback on employee job performance.

Examine the employee from multiple viewpoints, including coworkers, supervisors, managers, subordinates, vendors, and customers.

Use to strategize ways to improve their organizational processes, and identify areas of weakness. Provides valuable insight into workplace relationships, training, opportunities for growth, and work processes within an organization. Helps organizations tailor benefit plans to their employees.

Ask employees if they feel they’ve been given the proper training and development tools to advance their professional career goals in the workplace.




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Training: Through proper approach towards training, GIT can benefit from a optimal workforce

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Encourage a Learning culture

Target your needs

Survey employees

Survey employees to gauge their current knowledge, otherwise budget is wasted reaching already knowledgeable staff. Target your needs. Identify the specific skills you need to improve and the timeframe within which you’d like to meet your training goals to provide the optimal payback. Encourage a learning culture. Employees should know that GIT cares about enhancing their skills and wants every worker — whether training or not — to remain relevant and competitive within their skill set.


INTRODUCTION EXECUTIVE SUMMARY SECTION NAME SECTION NAME SECTION NAME

GIT Global Infotech FINTECH COMPETITIVE ADVANTAGE ASSESSMENT

Skilled Employees A common problem in the

IT community is talent acquisition.

The main complaint that firms have is finding qualified candidates.

Accenture just launched their Future Technology Leaders

program, which is aimed at first- and second-year undergraduate students. It offers them career

guidance, networking opportunities, and a senior

executive as a mentor.

Students accepted into the program (in the U.S. a GPA of at least 3.0 is required), must attend

two workshops a year. They’ll collaborate on a project with other students in the program

from around the world and have a chance to network with students and Accenture

managers

The consultancy is currently working with 35 universities

around the world.

Wipro Integrated Skill Enhancement Programme

2014.

60-hour programme in a self-paced format: 40-hour

Business Communication Skills programme from

TaraSpan Solutions, 20-hour Corporate Readiness module that is proprietary to Wipro.

Students who complete the program will receive a

certification which grants them eligibility for a placement at Wipro.

10 have been certified and will join Wipro after

graduation

Talent Acquisition: Talent doesn’t necessarily have to be acquired, it can be developed.

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Talent Acquisition: Deloitte approaches talent acquisition with a recruitment site focused in the Netherlands

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Built a dynamic website

•Deloitte in the Netherlands built their own career site, separate from the corporate website.

Individual Profiles

•Recruiters create their own profiles on the website and interact with potential employees

3 categories of users

•Students

•Young professionals

•Professionals.

•This classification determines what content the applicant will receive.

Created a real human feeling

•Personal bios

•Photos

•Facilitated the humanization of the recruitment process

Goals 1) Help to fill the roles at Deloitte and reach the target of 1,000 new hires in 2010/2011 2) Develop a strong employer brand which attracts the “right” candidates for Deloitte 3) Drive traffic to their career website to create a funnel of candidates and supports the employer brand

Results

• Direct hires through Social Media represent only 2% of their hires

• Indirect benefits of Social Media are much better (traffic, employer branding.)

• The traffic on social media far surpassed the traffic on the job boards where they were posting.

• Their recruiting costs (they were using some agencies) declined




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Newhuadu Business School Mrs. Tina Zhou, IMBA Administrator 150-0138-8001 [email protected]

Delivery Team

Ana, University of Texas of, Brownsville, [email protected] Cyrus, Marymount University, [email protected] Cody Provence, Georgia State University, [email protected] Daren Seto, University of Maryland, [email protected] Adil Rajabali, University of Houston, [email protected]

Consulting Manager SP Bourgeois, Daedalus Advisory Services +1 917 719 6371 [email protected]

CONTACT INFORMATION

Appendix

Detail findings on financial research and analysis provided in the report

NEWHUADU BUSINESS SCHOOL – SUMMER 2014

Global InfoTech Schedule 1Table of Contents Page 1 of 1

Table of Contents

Solutions Operating Revenue Schedule 2Computer Software Operating Revenue Schedule 3Storage and Peripherals Operating Revenue Schedule 4Company Comparable Matrix Summary Schedule 5Comparable Company Matrix: Market Share Schedule 6Comparable Company Matrix: Usage of HR Schedule 7Comparable Company Matrix: Product Shelf Schedule 8

Notes:

Global InfoTech Schedule 2Solutions Operating Revenue Page 1 of 1

Solutions Operating Revenue (in billions of RMB)Product & Services Segment 2009 2010 2011 2012 2013 2014 2015 2016Process & Outsources Services 489.5 492.8 531.1 553.4 576.6 605.5 635.7 667.5IT Consulting & Other Services 902.5 942.4 1033.1 1105.7 1183.4 1242.6 1304.7 1369.9TOTAL 1392.1 1435.2 1564.2 1659.1 1760.0 1848.0 1940.4 2037.4

Notes:[1] Financial figures were used from Standard & Poor's Industry Overview: IT Commercial Services[2] Used average growth of three years for 2012 and 2013 data.[3] Used industry forecasted growth rate of 5 percent, provided by Channel insider for 2014-2016

Global InfoTech Schedule 3Computer Software Operating Revenue Page 1 of 1

Computer Software Operating Revenue (in billions of RMB)Product & Services Segment 2009 2010 2011 2012 2013 2014 2015 2016Application Software 20.6 26.4 28.4 36.5 39.3 58.9 88.3 132.5System Software 101.0 108.6 122.4 134.6 148.1 155.5 163.3 171.4TOTAL 753.6 837.4 934.9 1061.2 1161.5 1329.1 1559.8 1884.3


Global InfoTech Schedule 4Storage and Peripherals Operating Revenue Page 1 of 1

Storage and Peripherals Operating Revenue (in billions of RMB)Product & Services Segment 2009 2010 2011 2012 2013 2014 2015 2016Computer Storage & Peripherals 35.4 43.7 54.2 67.2 83.3 87.5 91.9 96.5Data Storage Components 2.3 2.5 19.9 158.3 1,260.8 1,323.8 1,390.0 1,459.5Hard Disk Drives 9.8 11.4 13.2 15.4 17.9 18.8 19.7 20.7TOTAL 1,825.8 2,214.0 2,324.7 2,440.9 2,562.9 2,691.1 2,825.7 2,966.9


Global InfoTech Schedule 5Company Comparable Matrix Summary Page 1 of 1

Company Comparable Matrix Summary

Standards met # of companies %% Meet Strategic HR

StandardsLeader, Diversified, and Strategic HR 29.0 42.6% 85.3%Leader, Diversified, and Admin HR 5.0 7.4%Not a Leader, Not Diversified, Strategic HR 19.0 27.9% 55.9%Not a Leader, Not Diversified, Admin HR 15.0 22.1%Total 68.0

Notes:[1] 85.3 percent of market leaders who are diversified also have a strategic HR in place.

Global InfoTech Schedule 6Comparable Company Matrix: Market Share Page 1 of 1

Market ShareCompany Name market Share

Bloomberg Financial L.P. 13.6%FIS 8.4%

Mcgraw Financial 8.0%Fiserv, Inc. 7.3%

NCR Corporation 5.2%

Cognizant Technology Solutions Corporations 5.0%Diebold, Inc. 4.5%SunGard 4.1%

Lender Processing Services 3.2%IHS Inc. 3.0%

CA Technologies 2.9%

First Data Corporation 2.3%

Total System Services, Inc. 2.2%DST Systems 2.0%CoreLogic 1.9%SAS institute 1.8%

Jack Henry & Associates, Inc. 1.8%Equifax 1.6%Markit Ltd 1.6%Genpact 1.3%Misys 1.3%

Broadridge Financial Solutions, Inc. 1.1%

ACI worlwide, inc. 1.0%FICO 0.9%

SS&C Technologies 0.9%

Experian Group 0.8%Syntel 0.8%

IPC Systems, Inc. 0.8%

Wolters Kluwer Financial Services 0.6%

Digital Insight (Financial Services) 0.6%

Advent Software 0.6%

Moody's Analytics 0.5%

TransFirst Holdings 0.5%

OpenLink Financial LLC 0.5%

Harland Financial Solutions 0.5%CRIF 0.4%

Pegasystems Inc. 0.4%

Interactive Data Croporation 0.4%

Aegis Global Communications 0.4%

Charles River Development 0.4%

Calypso Technology 0.4%Fundtech 0.4%

Computer Services Inc. 0.3%

Virtusa Coporation 0.3%BancTec, Inc. 0.3%Collabera 0.3%

Bottomline Technologies, Inc. 0.3%

Investment Technology Group 0.2%

NIIT Technologies Inc. 0.2%

Eagle Investment Systems LLC 0.2%NICE Actimize 0.2%

Vasco Data Security Oakbrook International Inc. 0.2%

Carlisle & Gallagher Consulting Group 0.2%

ARGO Data Resource Corporation 0.2%Scorto Corp 0.2%

TransCentra, Inc. 0.1%Viewpointe 0.1%

ISGN Corporation 0.1%COCC 0.1%

Eze Castle Integration 0.1%BancVue Ltd 0.1%

WAUSAU Financial Systems 0.1%

Primatics Financial 0.1%

Indecomm Corporation 0.1%

EFT Source, Inc. 0.1%Novantas, Inc. 0.1%Scivantage 0.1%eMASON, Inc. 0.0%

Max 13.6%Upper 1.7%Median 0.5%Mean 1.5%Lower 0.2%Min 0.0%

Notes:

[1] Derived market share from the American Banker: Top 100 FinTech companies. http://www.americanbanker.com/fintech-forward/rankings/

Global InfoTech Schedule 7Comparable Company Matrix: Usage of HR Page 1 of 1

Strategic Use of HRCompany Name HR Rating

Bloomberg Financial L.P. 3.2FIS 2.8Mcgraw Financial 3.1Fiserv, Inc. 2.5NCR Corporation 2.8

Cognizant Technology Solutions Corporations 3.5Diebold, Inc. 2.9SunGard 2.9

Lender Processing Services 2.7IHS Inc. 2.8CA Technologies 3.2

First Data Corporation 2.6

Total System Services, Inc. 3.2DST Systems 3.8CoreLogic 2.0SAS institute 3.9

Jack Henry & Associates, Inc. 3.6Equifax 2.8Markit Ltd 2.8Genpact 3.4Misys 2.9Broadridge Financial Solutions, Inc. 3.0ACI worlwide, inc. 2.7FICO 2.9SS&C Technologies 2.3Experian Group 2.8Syntel 2.9IPC Systems, Inc. 2.7

Wolters Kluwer Financial Services 4.0

Digital Insight (Financial Services) 2.9Advent Software 3.3Moody's Analytics 3.4TransFirst Holdings 3.0

OpenLink Financial LLC 2.5

Harland Financial Solutions 2.7CRIF 2.8Pegasystems Inc. 3.2

Interactive Data Croporation 2.9

Aegis Global Communications 2.8

Charles River Development 3.1Calypso Technology 3.0Fundtech 2.3

Computer Services Inc. 4.3Virtusa Coporation 3.5BancTec, Inc. 2.7Collabera 3.1

Bottomline Technologies, Inc. 2.5

Investment Technology Group 3.1

NIIT Technologies Inc. 3.2

Eagle Investment Systems LLC 3.9NICE Actimize 3.2

Vasco Data Security Oakbrook International Inc. 2.0Carlisle & Gallagher Consulting Group 2.0

ARGO Data Resource Corporation 2.0Scorto Corp 2.0TransCentra, Inc. 3.2Viewpointe 2.0ISGN Corporation 2.9COCC 3.6

Eze Castle Integration 3.6BancVue Ltd 3.1

WAUSAU Financial Systems 3.5Primatics Financial 3.1

Indecomm Corporation 2.9EFT Source, Inc. 2.0Novantas, Inc. 3.5Scivantage 2.5eMASON, Inc. 2.2

Max 4.3Upper 3.2Median 2.9Mean 3.0Lower 2.7Min 2.0

Notes:[1] Derived ratings through a formulated method by researching in to well respected surveys and websites that provide employee reviews and HR initiatives conducted by companies

Global InfoTech Schedule 8Comparable Company Matrix: Product Shelf Page 1 of 1

Comparable Company Matrix: Product Shelf

Company NameCore Processing

Retail Banking

Corporate Banking

Self Service

Risk/Security/Compliance Payments

IT Outsourcing

IT Services Insurance

Securities/ Wealth Management

Bloomberg Financial L.P. Y Y YFIS Y Y YMcgraw Financial Y Y Y YFiserv, Inc. Y Y YNCR Corporation Y Y YCognizant Technology Solutions Corporations Y Y YDiebold, Inc. Y Y YSunGard Y Y YLender Processing Services Y YIHS Inc. Y Y YCA Technologies Y YFirst Data Corporation YTotal System Services, Inc. YDST Systems YCoreLogic Y Y YSAS institute Y Y YJack Henry & Associates, Inc. Y Y YEquifax Y YMarkit Ltd Y YGenpact Y Y YMisys Y Y YBroadridge Financial Solutions, Inc. YACI worlwide, inc. Y Y Y YFICO Y Y YSS&C Technologies YExperian Group Y Y YSyntel YIPC Systems, Inc. Y Y YWolters Kluwer Financial Services Y Y YDigital Insight (Financial Services) Y YAdvent Software Y Y YMoody's Analytics YTransFirst Holdings YOpenLink Financial LLC YHarland Financial Solutions Y Y Y YCRIF Y YPegasystems Inc. Y Y YInteractive Data Croporation Y Y YAegis Global Communications Y

Charles River Development Y Y YCalypso Technology Y YFundtech YComputer Services Inc. Y Y YVirtusa Coporation Y Y YBancTec, Inc. Y YCollabera Y Y YBottomline Technologies, Inc. YInvestment Technology Group Y YNIIT Technologies Inc. Y Y YEagle Investment Systems LLC Y Y YNICE Actimize Y Y YVasco Data Security Oakbrook International Inc. Y Y YCarlisle & Gallagher Consulting Group Y Y YARGO Data Resource Corporation Y Y YScorto Corp Y Y Y YTransCentra, Inc. YViewpointe Y Y YISGN Corporation Y Y YCOCC Y Y YEze Castle Integration Y Y YBancVue Ltd YWAUSAU Financial Systems Y Y YPrimatics Financial Y YIndecomm Corporation Y Y YEFT Source, Inc. YNovantas, Inc. Y Y YScivantage Y Y YeMASON, Inc. Y Y Y

Notes:[1] Derived product shelf and product information from the American Banker: Top 100 FinTech companies. http://www.americanbanker.com/fintech-forward/rankings/

The Final GIT Report [UPDATED]

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Transcript of The Final GIT Report [UPDATED]