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Transcript of Finacle Lite - · PDF fileFINACLE LITE Right-sized technology to suit your needs ......
FINACLE LITE
Right-sized technology to suit your needs The size of a financial institution matters less in an information-driven environment. Banks that can innovate and respond to the needs
of their customers with speed can play at par with larger banks by providing innovative products and services. Many smaller, agile
banks have demonstrated that the number of accounts or size of the asset base does not determine the ability to compete. It is the
business strategy backed with strong and reliable technology.
To compete and grow, these institutions (segment three and four banks) are aware of the need for a world-class technology
environment; that is powerful and agile to resist and overcome the challenges posed by the dynamic internal and external business
environment. FinacleLite empowers such banks in implementing the industry best practices, range of innovative products and services.
Some of the world’s largest banks are powered by Finacle. Many of the world’s best segment three and four banks will be powered by
Finacle Lite.
Finacle Lite
Finacle Lite is a pre-configured, ready-
to-deploy core banking solution built on
a state-of-the-art technology platform.
By providing a framework based on
Finacle core banking solution, Finacle
Lite assimilates award-winning banking
technology used around the globe, with
the right pricing and business model
that can scale to the needs of smaller
institutions. It provides a comprehensive
banking solution on a ‘private community
cloud’ environment, specifically tailored
to address the core banking requirements
of medium and smaller sized banks. This
integrated solution provides the right
handles that accelerate innovation in core
banking processes across business product
lines, entities and currencies. It supports a
wide array of financial product offerings in
consumer banking, wealth management,
corporate banking and trade finance.
Finacle Lite does more than just
provide saleable and market-proven
financial products. It automates critical
functions such as customer acquisition,
multi-currency transactions, real-time
transactional support and regulatory
reporting. The solution has been built to
sustain high-volume transactions across
channels with speed, agility and flexibility.
The Finacle Lite infrastructure facilitates
a range of banking services through a
variety of channels including the Web and
smartphone technology, allowing you to
reach customers in new ways. Feature-
rich functionalities can be delivered in
a scalable way because of how ‘light’
Finacle Lite really is. It is differentiated by
right-sized, highly efficient technology
infrastructure and provides applications
that have been maximized to make
available the greatest functionality with
the least amount of processing power.
By leveraging Finacle Lite through a
subscription-based model, financial
institutions can minimize capital
expenditures, lowering total cost of
ownership, while maintaining the same
level of application, data security and
regulatory compliance available to
all Finacle clients. The net result is a
system that can allow you to stand on
strong footing when competing with a
financial institution of any size, secure
in the knowledge that your technology
infrastructure is not only sized to your
organization, but employs the power of
Finacle, used by hundreds of banks of all
sizes around the world.
Finacle Lite delivers the power of an
industry leader for banks that have the
vision of building ‘tomorrow’s bank’.
Functional architectureBranch ATM/POS Internet IVR$
Mobile
Func
tion
alSe
rvic
es Standing Orders
Bill Payments Liquidity Management Clearing Limits/Collateral
Sweeps/Pooling Payment Systems Referral
24/7
Reporting Audit Multi-Calendar
Multilingual
Integration Framework
Access Control
Infr
astr
uctu
reCh
anne
ls
Customer Information File
Prod
uct
Fact
ory
Consumer Banking
Consumer Banking and Wealth Management Corporate Banking and Trade Finance
Wealth Management Solution
Savings & Checking
Structured ProductsMutual Funds
Term Deposits
Mortgages Islamic Banking
Retail Loans
Corporate Banking
Trade Finance
Current/Overdrafts
Export/ImportFinancing
DocumentaryCredits Guarantees
Securitization Syndication
Commercial Lending Islamic Banking
Forward Contracts
Acc
ount
ing
Back
bone
General Ledger Multi-Currency Transaction Manager
Interest/Tax
Inventory Channel Rules Discounts/Preferential Pricing Signature Veri�cation
Exchange Rates Bank Management Fees/Charges
Reus
able
Busi
ness
Com
pone
nts
Note: Some of the modules/channels require to be separately licensed.
External Document © 2016 EdgeVerve Systems Limited
Key modules
Finacle Lite combines the advantages
of a comprehensive offering and deep
functionality, but right-sized to the specific
needs of medium and small financial
businesses.
Core functions
The solution has the following core
functional modules with inbuilt products
• Consumer banking: deposits and
lending
• Wealth management
• Corporate banking: deposits and
lending
• Trade finance
• Foreign exchange
The core functions module streamlines
business functions by facilitating:
• Comprehensive integrated customer
information file
• Multi-currency product definition and
management
• Clearing and settlement of intra and
inter-bank transactions
• Multi-currency remittances
• Interest, fee and charges
• Trade finance services
• Inventory and standing orders
• Central limits and collateral
Functional infrastructure
The functional infrastructure layer presents
a wide range of support services with
comprehensive master data, a supporting
accounting layer, robust interest and fee
calculation engine and extensive reporting
tools in a real-time, online processing
environment. The accounting layer
supports real-time multi-currency updates
facilitating speedy transaction processing.
Business benefits
Reduced TCO
The ‘lightness’ of Finacle Lite is
foundation to its power. As a cloud-based
solution, savings are realized in people,
infrastructure, platform and the application
itself.
As a pre-configured solution, Finacle Lite
presents banks with the advantages of
the mission critical functions to accelerate
their innovation and time-to-market, while
minimizing the cost of deployment. This
translates into further savings without
the bank having to compromise on the
breadth of the offering. The solution’s
robust architecture and proven scalability
guarantee that the bank’s investment will
be protected and provide a cost-effective
solution that will create an agile and
flexible financial institution.
High efficiency and scalability
The solution empowers aggressive
business expansion, and can support
exponential growth in multiple markets,
without commensurate increase in
investment in technology. By leveraging
an elegant and powerful technology stack
and architecture, Finacle Lite can safely
and securely process large operational
volumes quickly and accurately with
Straight-Through-Processing (STP), which
will reduce operational costs.
Faster time-to-market
The pre-configured products and services
offer virtually an endless set of features
for banks to design and deploy across
any customer segment. The system
also empowers organizations to add
new products quickly and seamlessly,
and delight their customers with the
completeness of their financial relationship.
Finally, the user-friendly solution results
in reduced training times and, therefore,
reduced time-to-market.
Strong data security
Finacle Lite provides the utmost in data
security and storage, complete with back-up
and recovery options for business continuity
and disaster recovery. The application and
data security, high availability and regulatory
compliance are managed centrally.
External Document © 2016 EdgeVerve Systems Limited
www.finacle.comFor more information, contact [email protected]
©2016 EdgeVerve Systems Limited, a wholly owned subsidiary of Infosys, Bangalore, India. All Rights Reserved. This documentation is the sole property of EdgeVerve Systems Limited (“EdgeVerve”). EdgeVerve believes the information in this document or page is accurate as of its publication date; such information is subject to change without notice. EdgeVerve acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. This document is not for general distribution and is meant for use solely by the person or entity that it has been specifically issued to and can be used for the sole purpose it is intended to be used for as communicated by EdgeVerve in writing. Except as expressly permitted by EdgeVerve in writing, 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 written permission of EdgeVerve and/ or any named intellectual property rights holders under this document.
About Infosys FinacleFinacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation and accelerate growth in the digital world. Today, Finacle is the choice of banks across 84 countries and serves over 547 million customers – nearly 16.5 percent of the world’s adult banked population.
Finacle solutions address the core banking, e-banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 world banks reveals that banks powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.