Solutions
Key Challenges in Core Banking Replacement
In an increasingly competitive environment banks are taking a reality check on their technology environment to ensure that their IT strategy is aligned to their business objectives.Download
The Next Wave Of Internet Banking
To meet the challenge of creating an effective online banking service offering that meets the requirements of a sophisticated customer and is also secure.Download
Banking on Faith: Islamic Banking in the Middle East
Islamic banks are on the threshold of a historic opportunity. The emergence of clear standards and a common framework is the need of the hour.Download
Gold Rush: The Shift Towards Wealth Management in Banking
The emergence of the “private banking” & “wealth management” segments in banking, which took seed in the late 90s, has since attained huge proportions.Download
The FX Marketplace: Trends, Opportunities and Challenges
The foreign exchange marketplace is in a state of flux. The rules of the game are being re-written by the advent of new players and different ways of transacting FX thanks to technology advances.Download
Mobile Banking
Finacle mobile banking solution empowers retail and corporate banking customers with access
to banking services through SMS and GPRS/WAP-enabled handsets, leveraging a single
platform. It offers both mobile commerce and mobile payments within the DNA of mobile
banking, with support for merchant-initiated payments and reversals, in addition to
customer-initiated payments and reversals through manual SMS banking. Leveraging recent
technological advances in the mobility space, the solution provides a faster, richer, secure and
convenient user experience, ensuring inclusion of customers with various mobile devices.
Finacle mobile banking solution functions in tandem with disparate host systems, core banking
solutions, payment networks and third-party applications. The solution is interfaced with
MConnect, the indigenously developed middleware, which orchestrates mobile transactions
between users’ devices and Finacle universal banking solution. MConnect handles the
multiplicity of form factors and access mechanisms on multiple devices to provide a
context-agnostic view to the transaction server.
The solution supports synchronization of data on mobile without re-downloading the
application for downloadable client-based mobility. It empowers banks to capitalize on their
existing Internet transaction and transaction support capabilities to extend it to the mobile
world, in practically real time. This ushers in the advantages of reduced integration by
leveraging common interface messages, maintenance and deployment costs.
Key Offerings
Mobile BankingFinacle offers various flavors of mobility:
- Browser-based mobile banking (GPRS or WAP-based transmission)
- Downloadable client mobile banking (GPRS or SMS-based transmission)
- Manual SMS banking
Business Benefits
Business Agility
Banks can leverage Finacle mobile banking solution’s indigenously developed middleware MConnect, to configure an unlimited palette of services from any channel, to the mobile space, with ease. The need for development of new back end services is precluded due to the availability of a banking solution behind the mobile interface. Finacle also provides the flexibility to deploy services over the existing banking platform or through a standalone delivery channel interfaced directly with the relevant host systems. This ensures the rapid delivery of a comprehensive range of financial services on mobile devices.
Cost Savings
The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs. This translates into significant cost savings without banks having to compromise on features or the range of devices supported. The mobile banking solution is inherently independent of the network service provider, obviating the need to build a business model that involves costs and profits sharing with them.
Robust Security
The solution offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. The solution also supports OTP (One Time Password - MobiToken), which provides a two factor authentication mechanism for users. This enables the bank to offer products that are highly secure and geared to withstand the onslaught of security threats associated with mobile transactions.
Customer Delight
Finacle mobile banking solution enables banks to offer the convenience of comprehensive anywhere anytime banking, using GPRS, WAP or SMS. It supports a wide range of mobile browsers. Banking customers can query on account balances and make fund transfers. Banks can also proactively send timely information to customers in a completely secure environment, whenever a customer-defined event occurs. The solution’s self-service capabilities empower customers to manage their banking activities better. The solution also addresses data transmission and storage related security concerns adequately, delivering a truly streamlined customer experience.
Solutions
Core Banking
