Finacle CRM

Finacle CRM solution is a modular, multilingual, Web-based customer-centric application that enables banks to leverage ready-to-deploy CRM functionality for competitive differentiation. Integrated with Finacle core banking solution, Finacle CRM solution offers end-to-end functionality to effectively address the needs of the complete cycle of marketing, sales and service for banking products.

Facilitating a unified 360° view of the customer across product lines and multiple back-end systems, it enables banks to improve customer experience across channels and empowers them with a robust platform for cross-sell opportunities. It also arms banks with the technology muscle to increase reach through effective marketing campaigns. Finacle CRM solution’s proven scalability further ensures that it can meet the needs of growing banks.

Key Modules

• Enterprise Customer Information File (CIF)
• Sales
• Loan origination
• Service
• Call center
• Marketing

Business Benefits

 
Aggressive Customer Acquisition

Finacle CRM solution supports the creation of demand generation through multi-channel and multi-wave campaigns. The solution ensures the bank’s marketing message is appropriately personalized and targeted towards the most suitable segment of prospects. This optimizes marketing efforts and results in greater conversion of prospects.

 
Improved Cross-sell Framework

The solution presents a unified 360° view of the customer, allowing single point access to all the relationships the customer has forged with the bank. This along with robust customer analytics effectively supports true relationship banking, providing a robust framework for cross-sell opportunities.

Finacle CRM solution also integrates with other white labeled solutions to facilitate contextual and personalized customer engagement, with a keen focus on right-talk driven right-sell.

 
Increased Operational Efficiencies and Collaboration

Finacle CRM solution supports business automation for processes and business activities, eliminating manual tasks and reducing process time. Straight Through Processing abilities enhance reduction in turnaround and processing time, increasing output and enabling speedy completion of tasks. The multilingual Web-based single repository of information enables remotely located bankers to collaborate and transact seamlessly.

 
Lower Total Cost of Ownership (TCO)

A Web-based solution leveraging new-generation technologies, Finacle CRM solution is future-proof and can be seamlessly integrated with other enterprise applications. With a robust architecture and proven scalability, it ensures protection for the bank’s technology investments.

Finacle Core Banking Solution for Regional Rural Banks

Finacle core banking solution for RRBs is a comprehensive, integrated yet modular business solution that effectively addresses their strategic and operational challenges. It is highly parameterizable providing that much needed flexibility to adapt to a dynamic environment.

The solution’s functionally-rich modules provide RRBs with a varied choice of features to continuously innovate on their product and service offerings. With Finacle core banking solution, they can meet the challenges of managing change, competition, compliance and customer demands effectively.

Key Modules

• Retail Banking
• Subsidy Management
• Trade Finance
• Functional Services
• Reusable Business Components
• Accounting Backbone
• Infrastructure

Business Benefits

 
Lower Total Cost of Ownership (TCO)

Finacle core banking solution for RRBs is future-proof and can be seamlessly integrated with other enterprise applications. With a robust architecture and proven scalability, it ensures protection for the institution’s technology investments.

 
Increased Operational Efficiencies and Productivity

Finacle core banking solution presents an integrated platform that links operations and processes seamlessly, while providing an enterprise-wide view of critical functions.

It supports business event automation, eliminating manual tasks and reducing process time. The purging of error and data redundancies also results in increased branch productivity.

 
Differentiated Product Spread

Finacle core banking solution offers an unlimited spread of features for RRBs to design and deploy products for varying segments. It empowers them to extend their suite of offerings, and achieve greater customer-centricity.

Finacle Analyz

 

Finacle analyz, integrated with Finacle universal banking solution, provides holistic customer analytics for banks, through both insightful business reports and rigorous statistical models. This enables the business to cross-leverage analytic output to strengthen its customer engagement and management strategy, resulting in institutionalization of customer relationships and differentiation of service experience.

The solution empowers banks with comprehensive analytics support, ranging from data acquisition to reporting and analysis, leveraging quantitative modeling techniques and multi-dimensional reporting. It provides critical information such as customer attrition scores or profitability scores to enable comprehensive understanding of the customer. These scores can also be extended to front-end applications or combined with online tacit information to facilitate timely and effective decision making. Truly modular in structure, Finacle analyz presents banks with the flexibility to pick and choose specific customer analytic functions relevant to the business, across the customer life-cycle stages of acquisition, development and retention.

Key Modules

• Campaign Management
• Cross-sell and Product Holding Analysis
• Customer Profitability and Lifetime Value Analysis
• Attrition and Loyalty Analysis
• Transaction Behavior Analysis
• Service Request Analysis

Business Benefits

Robust Framework for Customer Acquisition, Development and Retention

The solution encompasses end to end analytics across the customer relationship life-cycle. The interactive modules provide banks with a robust framework to understand the customer better and facilitate differentiated customer experience.

Enhanced Customer Value

Finacle analyz increases the bank’s relationship revenue through analytical insights that facilitate effective cross-sell and up-sell, improved stickiness, targeted loyalty programs and profitable repositioning of offerings. This enables banks to take customer centric decisions and enhance customer value.

 
Improved Decision-making Support

Arming banks with best-in-class analytical CRM capabilities throughout the customer lifecycle, Finacle analyz empowers the business with the intelligence to make informed, well-advised and timely decisions.

 
Reduced Time to Market

The solution’s predefined data mapping, extraction programs and data aggregation draw analytical outputs through an automated process. The in-built analytical models and reporting templates further reduce time to go-live, significantly.

 
Low Total Cost Of Ownership

Finacle analyz mandates minimal investments in terms of infrastructure capabilities and resources. The technology agnostic solution can be deployed on banks’ existing reporting and modeling tools with minimal customization effort.

Finacle Alerts

Finacle alerts solution empowers banks with the capability to alert end users about events recorded by the bank’s diverse business systems. The solution’s subscription feature enables the bank’s customers to select specific information they want to be alerted about, in addition to the time and channel of information receipt.

Built on new-generation industry standard technologies J2EE and .NET, the solution provides multi-channel and multilingual support. In addition to alerting corporate and retail customers of the bank, the solution provides alerts for the bank’s internal users as well. Banks can define alert categories to control access to various alerts. The solution allows a group of alerts to be combined into a message digest, minimizing the traffic of outgoing notifications. It also supports addition of branding messages as part of notifications.

Finacle Advizor

 

Finacle Advizor empowers banks to deliver products and services through a fully assisted self service channel that capitalizes on the organization’s existing Internet banking capability. Leveraging Web 2.0 principles and recent technological advances in the IP convergence space, the solution brings to the self-service channel the comfort of human intervention through ‘triple play’ entailing video, audio and data communication along with co-browsing. In effect, this virtually recreates the service experience at a branch.

Finacle Advizor provides banking customers real-time access to their relationships with the bank, such as account inquiries, fund transfers, remittances, credit card and mutual fund payments. It enables them to make payments to individuals and institutions, through channels like the Internet, kiosk and ATM.

Compatible with any multimedia capable PC with an Internet or intranet connection, the solution leverages the Microsoft application platform.

Key Modules

• Customer Interface
• Advisor Interface
• Audio/ Video Support
• Co-browsing
• Advisor Performance Management

Business Benefits

 
Customer Delight

The solution’s self-service capabilities empower customers to access comprehensive banking services in a completely secure environment. The interface also enables banking staff to understand customer needs better. The additional comfort of human intervention, through video, audio and data communication, creates a truly satisfactory customer experience.

 
Robust Inclusivity Framework

The solution extends the reach of the bank’s services, surmounting the complexities of diverse and far flung locations. This enables banks to include, through this new channel, their various customer segments, including specific under-banked and unbanked communities.

 
Cost Savings

Finacle Advizor presents banks with the advantages of reduced integration by leveraging their existing Internet banking solution. It creates an alternate means to lower operation costs for banks. It facilitates a significant reduction in service distribution and transaction costs, by enabling the deployment of an optimized channel management strategy. It also supports the creation of demand generation for banks, without the need to add on cost-intensive branches to drive customer acquisition.

Finacle Core Banking Solution

 

Finacle core banking solution is a comprehensive, integrated yet modular business solution that effectively addresses the strategic and day-to-day challenges faced by banks. It is highly parameterizable providing that much-needed flexibility to innovate and adapt to a dynamic environment.

The solution has an integrated CRM module enabling banks to offer a rich and differentiated value proposition to customers. The layered Service Oriented Architecture (SOA), STP capabilities, Web-enabled technology and 24X7 operations ensure multi-channel, multi-country and multi-currency implementations. The functionality-rich modules in the solution provide banks with a varied palette of features to continuously innovate on their product and service offerings. From the services innovation perspective, Finacle offers a comprehensive and unified customer repository with capabilities to educate and empower customers. With Finacle core banking solution, banks can meet the challenges of managing change, competition, compliance and customer demands effectively.

Key Modules

• Enterprise Customer Information
• Consumer Banking
• Wealth Management
• Corporate Banking
• Trade Finance
• Islamic Banking
• Functional Services
• Reusable Business Components
• Accounting Backbone
• Infrastructure

Business Benefits

Differentiated Product Spread

Finacle core banking solution offers an unlimited palette of features for banks to design and deploy products for varying market segments. The product bundling capabilities of the solution offer a wide range of possibilities for banks to create products with innovative features. The facilities provided for differential pricing, channel rules and customization through Finacle Studio – the scripting engine, empower banks to continuously innovate and extend their suite of products, across segments.

 
Agile Operations

The Service Oriented Architecture (SOA) enables the IT team at the bank to effect changes without touching the base code, ensuring lesser vendor dependency and faster adaptability to changing business conditions.

 
Robust Cross-sell Framework

The CIF and CRM capabilities in Finacle offer a unified view of the customer across the entire solution and across multiple back-end applications, enabling the bank to view the customer from a completely informed angle. This empowers banks to effectively manage customer relationships and aggressively explore cross-sell opportunities.

 
Increased Operational Efficiencies and Productivity

Finacle core banking solution supports business event automation and process orchestration, thus eliminating manual tasks and reducing process time. The elimination of error and data redundancies also results in increased branch productivity. Straight Through Processing (STP) abilities enhance reduction in turnaround and processing time, increasing output and enabling speedy completion of tasks.

Infosys launches Finacle Mobile Banking 2.0

One of the first mobile banking solutions in the world to offer mobile financial management and advisory services

News Highlights

 

• Infosys Technologies Ltd. announced the launch of Finacle mobile banking 2.0. This comprehensive solution enables retail and corporate consumers to access banking services through mobile SMS, GPRS, 3G and USSD-enabled handsets.
• The solution supports multi-host, multilingual, multi-channel, multi-currency banking. It facilitates interactive financial management encompassing product selection, proximity payments, remote deposit capture, new account opening, ATM/branch locating based on GPS and value added services like mobile ticketing, mobile top-up and mobile marketing.
• The solution’s robust integration framework enables seamless integration with disparate host systems, facilitating a unified, rich and intuitive user experience. Two factor authentication and encryption ensure fidelity of transactions.
• The device-agnostic solution supports over 8000+ mobile handsets including basic handsets and smart devices like iPhone, BlackBerry® smartphones and iPad. Customers can avail banking services through SMS messaging, browser-based mobile banking, rich client/download-based mobile banking or USSD messaging. In addition, the solution is channel agnostic and can be leveraged to fulfil transactions initiated across any other channel.
• Banks can also leverage Finacle mobile bank-in-a-box, which is a pre-configured and pre-integrated solution for easy and rapid mobile banking deployment in lesser than 30 days.

Key Quote

According to Haragopal Mangipudi, Global Head – Finacle, Infosys Technologies, “As channel innovation continues to be a strategic priority for progressive banks, mobile banking has truly come of age. Finacle mobile banking 2.0 enables banks to create and leverage game-changing opportunities, through the mobile channel, to build, deepen and institutionalize relationships with both customers and new emerging consumer segments.”

 

Basel III: the main points

 

The new rules, known as Basel III, will require banks to hold top-quality capital totalling 7% of their risk-bearing assets

 

Banks will have to raise hundreds of billions of euros in fresh capital under new regulations designed to prevent the repeat of another financial crisis.

The new rules, known as Basel III, will require banks to hold top-quality capital totalling 7% of their risk-bearing assets, a big increase from 2%, but banks are being given more time than expected to comply with the rules – in some cases until 2019.

 

The main points

 

Basel III: Banks will have to increase their core tier-one capital ratio to 4.5% by 2015. In addition, they will have to carry a further “counter-cyclical” capital conservation buffer of 2.5% by 2019. Any bank that fails to meet the new requirements is expected to be banned from paying dividends to shareholders until it has improved its balance sheet.

 

Financial supervision: The G20 wants closer supervision of systemic risk at local and international levels.

 

Derivatives: The G20 has called for greater standardisation and central clearing of privately arranged, over-the-counter contracts by the end of 2012.

 

Hedge funds: US reforms are in line with the G20 pledge that funds above a certain size should be authorised and obliged to report data to supervisors. A draft EU law includes private equity groups and restrictions on non-EU fund managers seeking European investors.

 

Accounting: The G20 wants common global accounting rules by mid-2011.

 

Credit rating agencies: The G20 wants them registered and supervised by the end of 2009. The EU has adopted a law mandating registration and direct supervision that takes effect this year. US legislation passed this year includes similar provisions.

 

Pay: The G20 has endorsed principles designed to stop bonus schemes in banks from encouraging too much short-term risk-taking.

 

What are the Basel-III norms?

Indian banks are unlikely to be affected but may face some negative impact due to shifting some deductions from Tier-I & Tier-II capital to common equity, says RBI Governor Subbarao.

What are the Basel-III norms?

These are rules written by the Bank of International Settlement’s Committee on Banking Supervision (BCBS) whose mandate is to define the reform agenda for the global banking community as a whole. The new rule prescribes how to assess risks, and how much capital to set aside for banks in keeping with their risk profile.

What are the changes which have been made to the way in which capital is defined?

Going by the new rules, the predominant component of capital is common equity and retained earnings. The new rules restrict inclusion of items such as deferred tax assets, mortgage-servicing rights and investments in financial institutions to no more than 15% of the common equity component. These rules aim to improve the quantity and quality of the capital.

What do these new rules say?

While the key capital ratio has been raised to 7% of risky assets, according to the new norms, Tier-I capital that includes common equity and perpetual preferred stock will be raised from 2-4.5% starting in phases from January 2013 to be completed by January 2015. In addition, banks will have to set aside another 2.5% as a contingency for future stress. Banks that fail to meet the buffer would be unable to pay dividends, though they will not be forced to raise cash.

How different is the approach now?

The new norms are based on renewed focus of central bankers on macro-prudential stability. The global financial crisis following the crisis in the US sub-prime market has prompted this change in approach. The previous set of guidelines, popularly known as Basel II focused on macro-prudential regulation. In other words, global regulators are now focusing on financial stability of the system as a whole rather than micro regulation of any individual bank.

How will these norms impact Indian banks?

According to RBI governor D Subbarao, Indian banks are not likely to be impacted by the new capital rules. At the end of June 30, 2010, the aggregate capital to risk-weighted assets ratio of the Indian banking system stood at 13.4%, of which Tier-I capital constituted 9.3%. As such, RBI does not expect our banking system to be significantly stretched in meeting the proposed new capital rules, both in terms of the overall capital requirement and the quality of capital. There may be some negative impact arising from shifting some deductions from Tier-I and Tier-II capital to common equity.

 

Indian banks won’t face problems adjusting to Basel III: RBI

However, as the phase-in time allowed is long enough, these banks should be able to make a comfortable adjustment to the enhanced requirement, the RBI Governor said in a statement.

The Reserve Bank of India (RBI) Governor D. Subbarao said on Friday that Indian banks were well capitalised and can comfortably adjust to the new Basel III norms on capital, liquidity, disclosures and risk management.   “At the aggregate level Indian banks will not have any problem in adjusting to the new capital rules both in terms of quantum and quality,” Subbarao said in his Inaugural Address at ‘BANCON 2010’ in Mumbai today.   “We expect to have a more accurate picture when banks review their Basel III compliance position following the publication of the final Basel III rules scheduled around the year end,” he added.   Indian banks are comfortably placed in terms of compliance with the new capital rules, Subbarao said, adding that a few individual banks may fall short of the Basel III norms and will have to augment their capital.   However, as the phase-in time allowed is long enough, these banks should be able to make a comfortable adjustment to the enhanced requirement, the RBI Governor said in a statement.   The central bank chief also said that there was a strong case to review and recast the country’s banking legislation.   “The current statutory arrangement we have is a baffling plethora of laws governing different segments of the banking industry,” Subbarao said referring to a slew of legislations governing Indian banks.   However, he added that notwithstanding this wide array of legislations of varying vintage, the statutory arrangement has served the system well by helping maintain an orderly banking system.