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					Direct Banking Solution

OVERVIEW

Banks are seeking to make a strategic shift from competing on price to managing cost structures, by leveraging disruptive service concepts like branchless delivery. They are also aggressively exploring alternative channels of customer acquisition, while innovating across products, channels and processes to enhance the service experience. This has effectively paved the way for financial institutions to explore direct banking. Progressive players are looking to arm themselves with state-of-the-art agile technology infrastructure that will give them direct access to the customer and comprehensive support for e-delivery of financial services, across the assets and liabilities business lines. Their agenda is clear: Business development and seamless banking beyond the branch.

Finacle Direct Banking Solution

Finacle direct banking solution is a proven solution for banks to directly acquire, track and service customers, in the complete absence of a brick and mortar infrastructure. Built on new-generation technology, it provides an end-to-end platform that supports the full-fledged delivery of a comprehensive range of assets and liabilities solutions, facilitated through direct access to the customer 24/7, 365 days a year. The solution is interfaced with a powerful online sales enabler infrastructure, to drive customer e-acquisition and extend the branchless bank’s outreach. It opens up an exciting new channel for banks to convert prospects to profitable customers, without the support of a branch or call-centre. Powered by Finacle universal banking engine that addresses the core banking, CRM, wealth management and e-banking needs of the bank, this seamless banking solution is completely equipped to support true relationship banking. It enables banking customers with real-time access to their relationships with the bank, such as deposits, account inquiries, fund transfers, credit card and mutual fund services. It empowers them to make utility bill payments and payments to individuals or institutions, without investing time to access a conventional branch. In addition, the powerful Finacle alerts solution provides two-way multi-channel alerts, establishing strong communication links that facilitates effective relationship management. A platform independent solution, Finacle direct banking solution is also highly secure and supports multiple authentication mechanisms.

Functional Architecture

Document Imaging

Online Financial Calculators

Address/Account Verification

KYC/AML Integration

Offline Verification (Postal Dept.)

Internet/MobileChat Server based Origination Prospect Information

CRM
CIF 360 Degree View CIF/Customer ID

IVR CTI/Call Center Integration Chat Server Co-browsing Web Analytics

Co-browsing

e-banking

Wikis

Transactions & Inquiry Capabilities

Customer Support Virtual Servicing through Finacle Integrator

Reviews & Ratings

Funding Web Analytics Discussion Forum Web Community Content Management Notification Internet/Mobilebased Fulfilment Service Requests Account Verification

Core/WMS

Account Opening Request Account Opening Confirmation

Product Factory Regulatory Accounting Exception Management Reporting Payment/ Collection Systems

System Integration
Business Process Outsourcing Infrastructure Management SaaS modeled Web 2.0 capabilities

* The units coloured in brown are third-party entities that can be interfaced with Finacle direct banking solution.

Key Features
Online Customer Acquisition • Comprehensive prospect-to-customer conversion functionality within the bank’s portal • Integrated online application form with a family of financial simulation tools and selectors to engage prospects in personalized sales illustrations • Support to save incomplete customer applications for completion on subsequent visits to the bank’s website • Document submission through multiple modes including upload of scanned images • Capture of funding account details and processing of verification through penny payment mechanism and interface with third party vendors • Flexibility to allow limited Internet banking access with application form submission and comprehensive access after creation of the first account or to allow access to Internet banking only after creation of first account • Workflow enabled customer creation in compliance with KYC, AML and OFAC regulations • Multi-channel alerts engine to notify prospects about the status of application across every stage of application processing

Online Service Fulfillment • Balance and transaction reporting • Online transaction capability support: Intra-bank transfer, inter-bank local payments and inter-bank remittance Maintaining personal payee Multiple payment networks such as ACH and SWIFT • Access to secure mail service • Service request framework to address customer requests and complaints • Enquiry services to track online activities initiated through the Internet and mobile channels • Credit card and mutual fund information, along with the associated transactions • Electronic bill payment and presentment

Business Benefits
Aggressive Customer Acquisition Finacle direct banking solution supports the creation of sales enablers, for banks with no branches to drive multi-channel campaigns that promote transparency of and brand strength, optimize marketing efforts and prospects.

demand generation through online customer acquisition. Support for product pricing, loyalty campaigns results in greater conversion of

Lower TCO The solution facilitates a significant reduction in service distribution and transaction costs, by enabling the deployment of an optimized channel management strategy. Improved Cross-Sell Framework The seamless integration of online and offline channels, presents a customer-centric architecture that engages a breadth of channels ranging from ATMs to self-service kiosks. It enables branchless banks to offer a one-stop financial portal for customers. This effectively supports true relationship banking, providing a robust framework for cross-sell opportunities. Robust Security The solution presents extensive security features and provides a sturdy grid to integrate with specialized security software. The direct bank can capitalize on this to offer products that are highly secure and geared to withstand the onslaught of security threats around Internet transactions. Customer Delight The alerts engine functions as the customer’s online relationship manager. It ensures that customers receive requisite information through the preferred channel. The easy-navigation, pre-populated content management toolkit provides timely and relevant advisory services. The solution also facilitates the deliver of consistent service levels and continuous innovation in product spread. Its self-service capabilities and support for door-step banking further empowers customers to manage their banking activities better.

www.infosys.com/finacle


				
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posted:2/13/2009
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