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CoreBankingSolution Flipbook PDF
CoreBankingSolution
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Finacle Core Banking Solution
Is your bank ready for tomorrow?
configure modules. Finacle provides all the
banks can expand product offerings on
building blocks of business functionality
demand and stay ahead in a competitive
enabling users to configure products and
marketplace.
The financial services industry is
processes flexibly in order to adapt to a
undergoing significant transformations.
dynamic environment. With a 360 degree
Mergers, consolidation, expansion, shifting
single source view into customer accounts,
customer preferences, emerging non-
banks can empower customers with
traditional competition and a continuously
relevant information and delight them with
evolving complex regulatory environment
the right offerings, presented at the right
are just some of the issues on the minds of
time through the right channel
bankers worldwide. With change coming
The solution’s componentized structure
this rapidly, banks must quickly embrace the new world order and accelerate growth to stay a step ahead of the competition. This requires shedding away the complexity which has grown significantly across business functions and operations. Banking leaders understand that technology is critical for simplifying banking to create sustainable business growth. But, many are burdened with disparate host systems added piecemeal, over time, and developed on obsolete technology. These legacy systems are simply not equipped to readily respond to change. However, bankers, having grown weary of lengthy deployments and the ensuing business disruption, have apprehensions about transformation. Yet, the need to modernize the organization remains as compelling as ever. A painfree approach to banking transformation, with an adaptive solution at the core, will prove invaluable for banks looking to gear themselves for tomorrow
Finacle core banking Finacle core banking solution is a comprehensive, agile, componentized yet
gives you unmatched agility to modernize at your own pace - progressively or an integrated manner - to meet business priorities. The solution also enables you to dynamically refresh your business model by adding or upgrading existing modules
Configure bundled product suites: The modular nature of our solution allows banks to easily configure bundled product suites to cater to the growing demands of today’s customers. Offer differential pricing: This is not an option but a need for banks today and our solutions gives banks the flexibility to offer differential pricing. Generate right-sell opportunities: Finacle core banking solution enables a 360 degree view of customer relationship to generate actionable insights for
and components selectively to reach out
maximizing right-sell opportunities.
to new customer segments. This helps you
Eliminate data redundancy: Our core
realize modernization benefits in months
banking solution helps banks build a
as against years. The solution’s readymade
master data system that consolidates all
integration adaptors and its compliance to
customer and product data and eliminates
industry standards reduce integration costs
redundancy.
and further simplify your transformation journey.
Comprehensive offering to support growth Finacle has a layered Service-Oriented Architecture (SOA), STP capabilities, Webenabled technology, and supports true 24 X 7 operations, so banks can:
Reduce costs: Our enterprise class components empower you to create central processing hubs and eliminate duplicate functions & applications across business units Increase the productivity of frontline staff: Automation and ease-of-operation lends itself to increase in productivity. Comply with emerging global regulations: Compliance is every bank’s
Create a differentiated and unique
concern. With our solution banks can rest
customer experience: The Finacle
assured of being compliant with growing
core banking solution enables banks
regulations.
to provide a hassle-free and unified banking experience to customers that’s personalized to their needs.
integrated business solution, addressing
Expand product offerings: With a
all the core needs of banks, in easy-to-
robust and comprehensive core solution,
Manage growth with proven scalability: The solution is designed to be scalable and support your pace of growth.
Functional architecture Enterprise CRM Marketing
Sales
Service
Interaction
Knowledge Base
Communication Channels
360 Degree View
Enterprise Customer Information Enterprise Components Payments
Liquidity Management
Dashboards
Origination
Product Factory Consumer Banking and Wealth Management
Corporate Banking and Trade Finance Corporate Banking
Consumer Banking Saving & Checking
Time Deposits
Retail Loans
Mortgages
Current / Overdrafts
Islamic Banking
Mutual Funds
Securitization
Trade Finance
Wealth Management Solution Structured Products
Commercial Lending Leasing and Hire Purchase
Islamic Banking
Leasing and Hire Purchase Insurance
Syndication
Equities
Forward Contracts
Bonds
Export / Import Financing
Documentary Credits
Guarantees
Functional Services Standing Orders
Limits / Collaterals
Bill Payments
Clearing
Referral
Reusable Business Components Interest / Tax
Exchange Rates
Bank Management
Fees / Charges
Inventory
Channel Rules
Discounts / Preferential Pricing
Signature Verification
Accounting Backbone General Ledger
Enterprise Components Multi-Currency
Infrastructure
Transaction Manager
24/7 • Multi-lingual • Finacle Studio • Single Sign On • Integration Framework • Purge • Access Control • Workflow (BPEL) • Reporting • Audit • Multi - Calendar • Scheduler
Finacle core banking solution is a comprehensive, agile, componentized yet integrated business solution, addressing all the core needs of banks, in easy-to configure modules. Finacle provides all the building blocks of business functionality enabling users to configure products and processes flexibly in order to adapt to a dynamic environment.
Key modules
Corporate banking
Enterprise customer information
From simple products such as overdrafts
When more is known about customers their demographics, financials, preferences, and the relationship they already have with a bank – banks are in a position to offer them the right solutions at the right time.
and cash-term loans to complex ones such as securitization and syndication,
business reports and rigorous statistical models. This can be leveraged to strengthen customer engagement and differentiate the service experience.
this module presents a powerful range of
The customer analytics module supports
offerings for corporate banking. It includes
operations with comprehensive
commercial lending essentials such as multi-
intelligence, ranging from data acquisition
currency disbursements and repayments,
to reporting and analysis, leveraging
Finacle enables banks to create and
flexible and varied interest rate setup,
quantitative modeling techniques and
maintain a single source of customer truth
commitment fee setup, crystallization,
multi-dimensional reporting. It provides
enterprise customer information files,
amortization, and debt consolidation.
critical information such as customer
across multiple host systems including Finacle. This helps manage the various lifecycle stages in a relationship with the customer and access comprehensive segmentation information, all through a unified view.
Finacle maintains the corporate customer information files, corporate deposits, commercial lending, corporate origination and corporate payments with comprehensive liquidity management, sweeps and pool facilities. Its multi-
attrition scores or profitability measures to help develop a clear picture of the customer. This information can also be extended to front-end applications or combined with online tacit information to help make timely and effective decisions. There is also the flexibility to pick and
Flexible and user-definable templates
currency enabled centralized limits and
support KYC and AML compliance
collateral function lets banks monitor both
mandates.
collateralized lending and online exposure.
Consumer banking
Trade finance
acquisition, development, and retention.
As consumers ask for new products, banks
This module presents an end-to-end
Wealth management
can leverage the flexible product definition
solution for the trade finance needs of
capabilities of Finacle to create new
a bank. It is fully integrated with the
offerings and target campaigns exactly
payment system and exchange rate setup,
where they are most relevant. Each product
and supports multicurrency processing of
can be associated with a wide range of
trade products such as:
properties and then bundled meaningfully based on customer input. Offerings such as savings and checking accounts, and provision for personal and auto finance are easily supported. Multilayered products–structured deposits, multi-currency accounts, top-up deposits, master term deposits, top-up loans,
choose specific customer analytics functions, relevant to the business, across the customer life-cycle stages of
Create new revenue streams by offering high net worth individuals and the mass affluent, products and services powered by the Finacle wealth management solution.
• Documentary credit • Forward contract • Import and export financing • Letter of guarantee • Factoring • Buyer’s credit
• End-to-end processing of investment
Customer analytics
•
revolving loans and securitization–can be
Any business can benefit from holistic
added as needed.
customer analytics through insightful
products across asset classes including structured products, equities, mutual funds, insurance, bonds, futures and options
• Unified solution for wealth
management needs of front office, mid office and back office Straight through processing across wealth and core banking functions – such as limits management, payments
• Rule based configuration to accelerate launch of new products such as dual
currency deposits, principal protected deposits, range accrual deposits, mutual funds, and insurance products Islamic banking Offer Shariah-compliant products to
Origination
•
Simplify and strengthen the complete credit lifecycle, across retail and commercial loans with Finacle’s enterprise
Standing orders integrated with payment systems, enabled for multi-currency, with auto-execution capabilities
•
Feature-rich bill payment that
loan origination solution
supports multi-currency payments and
•
collections
Supports the end-to-end credit lifecycle – from customer application
• Remittances offering comprehensive
customers and address their needs for
to credit analysis and decisioning,
inter-bank and intra-bank funds
Islamic banking along with international
followed by loan onboarding and credit
transfer
offerings.
monitoring – across various types of
•
loans, ensuring cost efficiencies and
Solution offers a flexible and varied feature repertoire for banks to design and deploy products for varying market segments, based on different
optimum control.
• Advanced rule-based underwriting and integrated credit monitoring
Islamic concepts including Mudarabah,
capabilities, which empower banks to
Murabaha, Ijarah, Istisna, Kafalah and
control risk and achieve higher credit
Tawarruq. The solution also offers a
quality to increase profitability.
wide range of possibilities for business users at the bank to create products and embellish them with innovative features
• Unified, comprehensive, real time
Dashboards Advance operational efficiencies and user experience by enabling availability
view of the client across the enterprise
of frequently used functions on a single
–covering both Islamic & non Islamic
console. The widgets led design empower
products
banks to personalize the dashboard for
Payments
Pre-built widget library and robust widgets creation infrastructure offer extensive
advanced enterprise payments services hub:
flexibility and enable banks to design
• The solution manages end-to-end
the most optimum dashboard for various users.
payments regardless of payment instruments, originating channels, hosting modules and payment networks.
• The SWIFT ready solution is designed
Functional services
leveraging ISO 20022 standards to deliver
that help banks differentiate offerings by
seamless interoperability across various
creating uniquely bundled products and
global and local payment networks.
services, such as:
services that support both paper-based
• Automated exception and approval
management with referrals for financial and non-financial exceptions
Reusable business components Users can define which business-enabler functions of Finacle core banking to turn on, and then reuse these across various functions, such as:
• Interest rate support for definition of
differential and slab-based interest rates
• Rule-based Signature Verification System (SVS)
• Exchange rate structures with multitiered definitions
• Tax structure definition and application of withholding tax for defined events
• Event-based charges with provisions for online and batch collection of
Finacle core banking offers a wide range of mainstream and bank-definable services
Flexible and feature-rich clearing and image-based clearing
various roles to enhance user productivity.
Modernize your payments with Finacle’s
payments lifecycle and processes
•
charges
•
Support for preferential pricing and discounts, both ad hoc and based on customer segments
• Inventory management • Elaborate channel rules and channel-
the-clock through branches and channels even during batch job
and interest
execution and day-end operations
prepayments and multi-source
repayment configuration capabilities for retail loans
• Integrated, secure, and scalable reporting infrastructure
• Ease of integration with industry standards-based framework and
Direct Selling Agent (DSA) features with
readymade adapters to integrate with
capabilities for sub-DSA, turnover and commissions calculations
•
24 x 7 capabilities to operate round-
based differential pricing for charges
• Rebates, clawbacks, subsidies, planned •
•
Extensive framework for bank management with user definition capabilities, audit trail features,
existing and external systems
• •
reporting and exception management
Accounting backbone
•
Finacle core banking has a built-in integrated financial and accounting management system with multicurrency
the latitude to create offerings with differentiated features. With Finacle, bankers can offer differential pricing, set up channel rules, and easily customize offerings across market segments. Right-sell to customers effectively The Enterprise Customer Information File and CRM capabilities in Finacle offer a unified view of the customer across the entire solution and across multiple back-end applications, letting users view
Single Sign On (SSO) for uniform and
the customer from a completely informed
common authentication
perspective. This information lets banks
Sophisticated security management at
forge more meaningful relationships with
application, database, and user levels
customers and aggressively explore right-
with built-in checks and role-based
sell opportunities.
access
Adapt to change quickly
Support for multiple calendars such as
The SOA allows the bank’s IT team to
Gregorian, Hijri and Buddha
make changes without touching the
• A Batch Job Scheduler (BJS) to
automate invocation, execution and
base code ensuring minimal vendor dependency, lesser operational risk, and faster adaptability to changing business
support, that effectively serves banks with
monitoring of batch jobs at defined
multiple branches and profit centers.
schedules
conditions.
BPEL/BPML based workflow for
Increase operational efficiency and
The integrated general ledger module
•
automation of sequential business
productivity
transactions and allows real time generation
processes with reduced manual
of statements that show the bank’s financial
Finacle core banking supports business
intervention
event automation and process
Finacle Studio to create bank definable
orchestration, eliminating manual tasks
supports real-time online updating of
position. At the same time, the transaction manager auto-generates all batch and online transactions while processing large transaction volumes, complete with validations and defined checks.
•
business rules and logic for behavior and outcome of business events
Business benefits
Infrastructure
Create differentiated products easily
Finacle core banking empowers users
Finacle core banking offers an unlimited
with a wide range of utilities to enhance
palette of features to design and deploy
operational efficiency and facilitate ease of
products for different market segments.
use. These include:
Its product bundling capabilities provide
and reducing process time. The elimination of error and data redundancies results in increased branch productivity, and Straight Through Processing (STP) that, in turn, reduces turnaround and processing time, increases output and speeds up response to customers.
About Infosys Finacle Infosys Finacle partners with banks to simplify banking and arms them with ‘accelerated innovation’ to build tomorrow’s bank, today.
For more information, contact [email protected]
www.infosys.com/finacle
© 2013 Infosys Limited, Bangalore, India. All Rights Reserved. Infosys believes the information in this document is accurate as of its publication date; such information is subject to change without notice. Infosys acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. Except as expressly permitted, neither this documentation nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior permission of Infosys Limited and/ or any named intellectual property rights holders under this document.