Infosys today announced the launch of its innovation in retail banking 2014 report. The sixth annual study, commissioned by Infosys and conducted by Efma, surveyed over 100 retail banks around the world.

The latest report has revealed that more banks in fast growing and rapidly developing markets display greater ambition for becoming innovation leaders in developing superior customer value.

The study also revealed that banks across the globe, especially from more mature economies, are increasing their innovation investments in 2014 compared to 2013 to keep pace with increasing customer expectations and respond to new market entrants. While new competitors include established technology companies and telcos, there is increasing collaboration with start-up companies to help drive innovation in banks.

Shares of the company gained Rs 90.95, or 2.4%, to trade at Rs 3,885. The total volume of shares traded was 26,900 at the BSE (3.24 p.m., Wednesday).