Solutions
Key Challenges in Core Banking Replacement
In an increasingly competitive environment banks are taking a reality check on their technology environment to ensure that their IT strategy is aligned to their business objectives.Download
The Core Banking Juggernaut Rolls On
In the near future one would see a complete confluence in the paths of banks and independent software vendors through the role of core banking systems.Download
Payments Business 3S Approach
Now banks can capitalize on the payment hub architecture through a payments system model which is integrated with the core banking solution.Download
Get More from the Core: Drivers of Back-office Transformation
The globally mobile customer is demanding low cost tailored products across multiple product channels. There clearly exists a need for banks to move from being product-centric to customer-centric.Download
Inclusion Solution
Finacle inclusion solution enables banks to gainfully serve the under-banked and unbanked with relevant products and services. It supports the multi-channel delivery of these offerings, with optimal operational efficiency, while ensuring viability of the endeavor as a sustainable and profitable business. It also enables regulation conformance across markets. Built on a J2EE platform, Finacle inclusion solution supports:
- Customer on-boarding using smart-cards and smart applications
- Delivery through channels ranging from laptops to specialized hand-held devices
- Fingerprinting-based biometric authentication
The solution can interface with any core banking solution directly or through an
industry standard middleware. It enables banking customers to access their
accounts through a business correspondent network. The bank’s field staff and
extended correspondent network, is in turn enabled to support customer
registrations, cash transactions and service both inquiries and requests.
Finacle inclusion solution arms banks with a two way messaging infrastructure
to alert field agents and bank staff through SMS. This is supplemented by a
secure mailbox. The solution also has extensive offline transaction processing
capabilities, supported by a robust synchronization engine.
Key Modules
- Core Functionality
- Smart Card Management
- Remittance and Payment
- Funds Transfers and POS Transactions
- Security
- Administration
- Request Management
- Reports
- Charge Engine
- Self-service
Business Benefits
Cost-effective Business Engine
Finacle inclusion solution enables banks to gain access to a new customer segment and cash in on rich hitherto untapped deposit bases, by setting up a low-cost channel to bank the unbanked.
Ease of Operation
Banks can deploy the solution to on-board customers offline, even in the absence of Internet connectivity. Offline banking is enabled through ubiquitous and easy to use devices such as laptops. The innovative spot-registration process supports both smart-card and simple ID card-based banking, reducing customer on-boarding time and lowering entry barriers. The solution can be easily deployed by the bank’s staff or business correspondents.
Robust Security
Fingerprint-based biometric authentication ensures the fidelity of every transaction performed using Finacle inclusion solution. In addition, it offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. In addition, data security is achieved through the industry standard Triple DES encryption.
Cost Savings
The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs. This translates into significant cost savings without banks having to compromise on features or the range of devices supported. Inherently independent of the network service provider, it obviates the need to build a business model that involves costs and profits sharing with them.
Customer Delight
With Finacle inclusion solution, banks can offer a rich and differentiated value proposition for the unbanked. They can suitably tailor products and services to meet the needs of the unbanked with:
- Support for local language
- Transaction confirmation messages voiced in the local language
- Fingerprint-based biometric authentication to overcome the literacy barrier
Solutions
AdvizorWe’ve got what you want
Success Story
Technology Led Excellence
Finacle’s unique Extensibility tool kit comprising Scripting Engine, Workflow, and Remote Application Interface provided the flexibility to ABN AMRO Bank, enabling it to easily and rapidly add new business rules, launch new products, and modify processes.
FinacleConnect
Challenges of Core Banking ReplacementAn interview with Rabo bank’s senior executive VP on the strategic role of technology.
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Press Releases
Finacle from Infosys positioned in Leaders Quadrant in Magic Quadrant for International Retail Core Banking 2008Read
Finacle in News
Business Standard - MumbaiInfosys, BBVA in strategic partnership
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Article
Hit the Road Running: Pre-configured Banking FrameworkCorporate Loan Origination
Before the sanction of any credit product offering to a customer, an essential activity which banks need to undertake is appraisal and assessment. This paper highlights the system requirements banks need to consider for efficient loan origination process.
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