The Housing Bank, one of the most respected banks in the Middle East, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced the selection of the Finacle suite of solutions to power the bank’s operations in Algeria. The bank has chosen to deploy the Finacle Core Banking, Trade Finance and Internet Banking solutions and will also deploy the Finacle Islamic Banking solution for its Shariah banking product. The Finacle Analytics solution will enable the bank to offer targeted and customized offerings to its customers. With Finacle, the Housing Bank Algeria will not only achieve a significant jump in operational efficiencies, but will also accelerate growth, manage scale and drive innovation, thereby providing superior value to its customers.
· The solutions will help the bank eliminate various manual processes, enhance productivity, reduce errors and ensure 24X7 availability
· It will help the bank automate processes and better manage real-time data with respect to its NPA (non-performing assets)
· The solutions’ componentized, service oriented architecture will allow the bank to expose granular business functionality as services, thereby enabling enhanced collaboration with internal and external stakeholders
· With the in-built product factory capability, supported by actionable insights from the analytics capability, the bank will be able to create and launch products easily with swift go-to-market
· Due to Finacle’s multi-entity capability, the need to install an instance on every bank system will no longer be required, making activities such as patch deployment, new branch, counter extension – direct and easy
· The bank’s ATM operations will now be always online, overcoming risks and service limitations such as low withdrawal limits