In a banking landscape marred by complexity, it is the simplest that will survive. A recent research conducted by Infosys and EFMA (European Financial Management Association) on banking innovations highlighted that only 35% of banks have a real-time single view of customer products and transactions, and merely 21% of banks provide some form of product personalization to their customers. The common reason for this struggle is complexity in banking operations and technology. Complexity has emerged as one of the biggest impediment to respond effectively to market demands.
To accelerate growth and profitability, simplifying banking is the need of the hour. Finacle 11E – the latest version of Finacle universal banking solution help banks do that. Infosys has announced the launch of Finacle 11E, an advanced universal banking solution. The solution’s componentized approach helps banks of all sizes rapidly modernize their operations in a phased manner, while minimizing risk. Its enterprise-class components are expected to enhance the efficiency of a bank’s operations, while improving customer experience across all channels.
Haragopal M, Global Head – Finacle, Infosys, states in a press release, “Complexity of business operations and need for technology modernization are amongst the biggest hurdles to accelerate growth today. Leveraging the componentized nature of Finacle 11E, banks can choose to deploy a solution in phases based on business priorities. This ensures simplified transformation journey and faster realization of modernization benefits.”
Finacle 11E’s benefits include an annual rate of return of over 55 percent on core banking transformation investments, a statment issued by Infosys states. It also facilitates the launch of new products and services faster – Finacle clients have experienced an average improvement of 33 percent in their time to market.