Finacle Lite is a banking solution, on a private cloud environment, specifically tailored to address the
mobile banking requirements of co-operative banks, community banks and credit unions worldwide. The integrated and pre-configured solution automates all core banking processes across business product lines, entities and currencies. It supports a wide spread of financial offerings such as trade finance, savings accounts, checking accounts, term deposits and lending products. It effectively automates critical banking functions including customer acquisition, multi-currency transactions across retail, corporate and trade finance modules, real-time transactional services and regulatory reporting. The solution is built to support and sustain high-volume transactions, across channels, with speed, agility and flexibility. The solution can also be integrated with the bank’s financial inclusion channels to extend services, on remote or handheld devices, to the unbanked and under-banked.
Finacle Lite is differentiated by its light infrastructure and light application that promises operational gains for banks in terms of savings in infrastructure and hardware costs. Leveraged through the subscription-based model, it minimizes the capital cost of ownership of technology. With application security, data security, high availability and regulatory compliance centralized and managed by Infosys and its partners, banks can leverage Finacle Lite for sustained growth.
Cloud banking key offerings
- Core Functions: The core functions module streamlines business functions such as comprehensive integrated customer information master and multi-currency product parameter definition and management, among others
- Functional infrastructure
- Mobile banking
- Finacle Finanz tools
Finacle Lite is differentiated by its light infrastructure and application, on a private cloud environment that creates savings in infrastructure and hardware costs for banks. As a pre-configured solution, Finacle Lite presents banks with the advantages of out-of-the-box features for a range of functions significantly minimizing deployment costs. This translates into further savings without banks having to compromise on features or the range of devices supported. The solution’s robust architecture and proven scalability guarantees protection for the bank’s technology investments.
Extended multi-channel reach
Finacle Lite empowers co-operative banks, community banks and credit unions to expand their channel reach through ATMs, mobile and Internet banking. It can also be integrated with any IVR solution for phone banking. The solution supports 24X7 services delivering the promise of anywhere-anytime banking.
High efficiency and scalability
Finacle Lite supports aggressive business expansion, marked by exponential growth in user and transaction numbers, without mandating a corresponding increase in technology investments. Leveraging a superior technology build and architecture, Finacle Lite comes with the ability to process large operational volumes quickly and accurately increasing straight-through processing (STP) rates and significantly driving down operational costs.
Finacle Lite can be implemented within a minimal go-live time frame. Its pre-configured products and services offer a virtually unlimited spread of features for banks to design and deploy products across segments. It also empowers them to extend their suite of offerings, and achieve greater customer-centricity. What’s more, users require minimal training on this user-friendly solution further minimizing this technology investment’s time-to-value.
Strong data security
A private cloud environment ensures that Finacle Lite supports secured data storage with back-up and recovery options for business continuity and disaster recovery situations. With application security, data security, high availability and regulatory compliance centralized and managed by Infosys, banks can leverage Finacle Lite for sustained growth.