Infosys, the Universal Banking Transformation Partner

Infosys Limited (Nasdaq: INFY) is a global consulting, software and IT services company founded in 1981. Offerings of Infosys range from business and technology consulting, system integration, products & platforms, maintenance, reengineering, IT infrastructure, and business process outsourcing. Finacle is a universal banking solution from Infosys aimed at the core banking, wealth management, CRM, Islamic banking, treasury, e-banking, and mobile banking requirements of retail, corporate, and universal banks. Infosys has more than 140,000 employees in the whole company (including subsidiaries) and more than 7,500 in the Finacle division. Infosys had revenue of $6 billion in 2011, with almost $300 million of that attributed to their core banking products.

Infosys Technologies has partnerships with a number of firms which compliment Finacle’s functionality. The following are companies currently partnering with Infosys:

• SAS, Surya Soft: governance, risk, and compliance

• RSA, Arcot: security authentication.SunTec: relationship-based pricing.

• FRS Global: regulatory Reporting.

• Customer XPS: online analytics / customer experience engagement.

• NEWGEN: document management.

• Comviva & Value First: mobile commerce.

Infosys also partners with various technological systems integrators like HP, IBM, and its own system integration team for large transformation projects. Infosys has partnerships with platform providers such as HP, IBM, Intel, Microsoft, and Oracle. Finacle also has a set of “education partners” that provide IT training in India (NIIT-IFBI, APTECH, Manipal Universal learning) for Finacle trained and certified resources. As shown in Figure 18, Finacle has 195 core banking customers, spread across 74 different countries. The majority of its clients are located in Asia-Pacific region. Figure 19 shows the Finacle client breakdown by number of accounts.

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Why Finacle ?

Finacle in Brief :

A Financial Package, for Banking Solution developed by Infosys on a platform of Oracle, hence it is called as 
FINACLE. Presently, many Indian Banks are having this software as banking solution and it is highly flexible.

Prior to 1995 it was known as BANC 2000, a Total Branch Automation package with a distributed 
network. After 1995 Infosys developed the same as FINACLE, a Core Banking Solution.

Finacle core banking solution is a comprehensive, integrated, yet modular and agile 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. With a 360-degree single source view into customer accounts, banks can empower customers with relevant information and delight them with the right offerings, presented at the right time through the right channel.

Finacle Features:

• Finacle facilitates anywhere banking
• Finacle is a Relational Database Management Software (RDBMS) of Oracle.
• It involves C,C++ and Java programming language.
• This software runs on UNIX Operating System (OS) as this is widely used platform across the CBS environment.
• Finacle is accessed through Browser Based Universal Client i.e. Internet Explorer.
• SQL & PL SQL uses for generating MIS or Reports or Queries at Centralized Level.
• As this is menu driven software, it is very much easy for navigation.
• Customization and parameterization are two special features of Finacle.
• Finacle provides multi-lingual supportFinacle provides multi-level security i.e. operation, database 

        and application level security.

Why Finacle?

• Customer driven thinking
• Convenience Banking
• Integrated Delivery Channel support through ATM /POS etc.
• Functionally Rich and Flexible
• High Level Security control and audit capabilities
• Relationship Banking
• Workflow

Key Modules

• Enterprise customer information
• Consumer finance
• Customer analytics
• Clari5
• Wealth management
• Islamic banking
• Corporate banking
• Trade finance

Finacle functional Architecture:
Business Benefits:
 Create differentiated products easily
Finacle core banking offers an unlimited palette of features to design and deploy products for different market segments. Its product bundling capabilities provide 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 the customer from a completely informed perspective. This information lets banks forge more meaningful relationships with customers and aggressively explore right-sell opportunities.

Adapt to change quickly
The SOA allows the bank’s IT team to make changes without touching the base code, ensuring minimal vendor dependency, lesser operational risk, and faster adaptability to changing business conditions.

Increase operational efficiency and productivity
Finacle core banking supports business event automation and process orchestration, eliminating manual tasks and reducing process time. The elimination of error and data redundancies results in increased branch productivity, and straight- through processing (STP), which, in turn, reduces turnaround and processing time, increases output, and speeds up response to customers.

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Why CBS in Banking Industry worldwide?

Why CBS in Banking Industry worldwide ?

Under the Centralized Banking Solution the data of all the branches of a Bank is centralised at one place viz; Data Centre. This effectively means that all operations at the connected branches are being done through Servers at Data Centre and Branch is not having any data storage devices. Branches are having only Windows Based PCs or thin clients(terminals without a hard disk) which are capable of running Internet Explorer. Other Delivery Channels like ATMs etc are also connected to Data Centre through ATM Switch.The branches are now called the SOL (service outlets) because each sol is working as a service window just like a railway reservation counters where you can book a ticket even if a single window is open. Similarly customers can transact even if a single sol is open. From customers’ perspective now customer is a customer of the bank and not a customer of the branch. This has facilitated Any-where, Anytime Banking convenience for the customer.From Bank’s perspective, centralized control over the application and processes has been ensured like change of parameters ,service charges, rate of interest etc which is being done by Data Centre only , apart from availability of effective MIS on real-time basis. All periodical returns can be generated centrally.Banks  in india and worldwide have already set up state of the art DATA CENTER having world class infrastructure and a DRS/DR (Disaster Recovery Site) having the same set up as at Data Center . presently  100% of bank’s business is already computerized on CBS our DRS is capable of running the branches in case of any eventuality at data center .As there is a time lag of 15-20 minutes between updation of data at DC and banks are also considering setting up of a ZERO DATA LOSS site in for them.

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Welcome to Finacle commands Blog

First of all thanks for the appreciation and response from the users worldwide to make it most progressive and interactive blog on Finacle commands and menus.As Finacle is used these days by most of the Banks worldwide , i feel presence  of a educative blog which will provide all the commands / menu options in finacle with illustrative explanations and i hope this blog will help the users worldwide from different Banks.

The Finacle Commands blog which is an initiative to provide online support on Various Finacle Commands used in the most widely popular Core Banking System - Finacle developed by Infosys , the major IT Giants in india. 

Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This proven and effectiveframework for multi-disciplinary change, enables banks to shift their strategic and operational priorities.

Finacle solutions address the core banking, e-banking, Islamic banking, treasury,wealth management and CRM requirements of retail, corporate and universal banks worldwide.

Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solution in its class. These solutions when associated with Finacle services, empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation.

Finacle is the chosen solution in over 154 banks across 75 countries. Finacle is implemented across countries like the US, UK, UAE, Mainland China, Taiwan, Hong Kong, Saudi Arabia, Maldives, Mauritius, Nepal, Nigeria, Indonesia, Singapore, Uganda, Sri Lanka, Tanzania, Zimbabwe, Thailand, Philippines, Jamaica, Cayman Islands and India.

finally I hope , your feedback and support will make it the most educative blog in the blog-sphere.


Thanks & regards

Mrutyunjay
Team Finacle Commands
 

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