WHAT IS FINACLE INFOSYS UPGRADE

The use of multiple channels across for lending has become the new standard, says Maiya, and is something that banks up and down the tier system are looking at. Do they want a mobile app, online banking, or WhatsApp banking? We can enable any combination of those.вЂќ вЂњWe can offer that layer, but further, we can separate out their needs on that layer. вЂњSay a bank has already implemented a new core banking system,вЂќ says Maiya, вЂњbut they now want to go digital for customer experience. These are the back-office business engine and the system of record a middle layer focused on digital engagement and a final layer based on digital experience.Д®ach of these layers is independent of one another, enabling the vendor to target the specific needs of a client. Maiya says there are three layers of the technology landscape through which Infosys assists clients like BRI. BRI claims that most new customers are approved within ten minutes. The project followed existing work with the bank on its development of micro-lending service Pinang.Д¬eria allows Indonesian users to build their credit history through the card, and has integrations with local e-marketplaces Tokopedia Dinomarket, and Panorama. Infosys Finacle worked with Bank Rakyat Indonesia (BRI) to launch Ceria, a new digital credit card designed to appeal to millennials. That change must occur eventually, he says, which is where a good technology partner can help. So, what can banks do? Maiya says they must look at partnerships to provide a reinvention of their lending systems in the short term, while working on technological change in the interim.

вЂњThey donвЂ™t see that as the basic level of service anymore.вЂќ вЂњYou can no longer expect your customers to come into the branch and stand in a queue,вЂќ says Maiya. Maiya, vice president and global head of business consulting at Infosys Finacle, says banks are undertaking a great rematching of the journeys their customers must take. Maiya, Infosys Finacle: вЂњEverybody has gone into a platform businessвЂќ The modern technology foundation will help BankDhofar further cement its market leadership and help drive innovation-led growth.Rajashekhara V. The success of this comprehensive modernisation underlines our position as a provider of industry-leading digital banking suite and a dependable digital transformation partner for financial institutions. Sajit Vijayakumar, Senior Vice President and Chief Operating Officer, Infosys Finacle, added:В вЂњThis programme builds on the foundations of strong partnership for over 10 years. We are now well-positioned to offer our customers a world-class banking facility with the new platform, either at the branch or through digital channels, as we strive to strengthen our leadership position in the Sultanate.вЂќ Additionally, BankDhofar implemented the preferential pricing, VAT and country limit capabilities, alongside training 800+ staff on the new platform.Д«ankDhofar is now in a position to co-innovate with the external digital ecosystem and go to market at speed with a fast, scalable, and comprehensive suite of web services and more than 1100 RESTful APIs.ДЄbdul Hakeem Omar Al Ojaili, Chief Executive Officer, BankDhofar,В said: вЂњPost go-live, we believe BankDhofar ranks the highest in terms of technology leadership, and functional coverage.

WHAT IS FINACLE INFOSYS UPGRADE

Phase 3 вЂ“ This phase saw a revamping of the entire back-end technology infrastructure with the upgrade of Finacle Treasury, Finacle Payments, and Finacle Core Banking platformsВ to the latest Finacle 11 enterprise version. The bank also implemented the Finacle Digital Engagement HubВ as a platform for delivering integrated, contextual and tailored digital banking services across channels, and redesigned customer-facing processes to facilitate the shift to digital. Phase 2 вЂ“ This phase saw a digital channels modernisation programme involving an upgrade of the existing Finacle Online BankingВ application for both retail and corporate banking. Since then, the bankвЂ™s digital age branches have seen improved staff performances, higher customer satisfaction among both business and corporate customers, and a good improvement in sales to service ratio. Phase 1 вЂ“ With the dual objective of simplifying banking and enhancing customer experience, BankDhofar modernised its branches in consultation with InfosysвЂ™ customer-centric digital transformation studio. The programme was completed ahead of schedule and covered digital transformation of the bankвЂ™s core banking platform, digital channels and branches, in line with the bankвЂ™s vision of becoming a digital-first entity, and вЂthe best bank in the Gulf for customer experienceвЂ™. Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, reports that BankDhofar in Oman has successfully completed a comprehensive, three-phase modernisation programme leveraging the Finacle Digital Banking Suite.

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