FinovateEurope 2016 / Infosys Finacle
Presenter Profile:
How they describe themselves: Infosys Finacle today serves core banking, online banking, mobile banking, payments, origination, wealth management, treasury, analytics and Islamic banking requirements of banks worldwide. The company operates in 84 countries, serving over 450 million customers – which is equivalent to 16.5% of the world’s banked adult population. Infosys Finacle is rated as a leader by industry analysts consistently over the years – most recently by Gartner in the Magic Quadrant for International Retail Core Banking for the 8th year in a row.
How they describe their product/innovation: Finacle Youth Banking solution helps banks build their future customers. It enhances the financial acumen of the youth while combining banking with learning and fun. The enriched platform is ideal for parents and their children to jointly set financial goals. It empowers parents with the opportunity to support their children in the matters of personal finance and help them understand the concept of linking goals in life to monetary savings and on how to achieve them. Finacle Youth Banking solution is a secure and feature rich app based solution which provides separate login for youth and their guardians. All financial transactions done by the youth are approved by the guardian.
Product distribution strategy: Direct to Business (B2B)
Contacts:
Bus. Dev.& Sales: Gautum Kedia, Business Development – UK and Ireland, Gautam_kedia@infosys.com, +44 (0) 794 426 9721
Press: Gurpreet Binning, Marketing and PR, gurpreet.binning@infosys.com, +44 (0) 7464 531582
Website: edgeverve.com/finacle
Twitter: @finacle
HQ: Bangalore
Founded: November 1981
Product Demoed: Finacle Youth Banking
Product Launch: May 2015
Metrics: 179,000+ relentless innovators and annual revenues of more than $8.83B (LTM Q1 FY16). The company serves in 84 countries, with over 450 million customers – which is equivalent to 16.5% of world’s banked adult population.
Presenters: Sunil Mishra (Senior Industry Principal), Georgios Epidexios (Principal Consultant)
- Key Executives
Amit Dua, Vice President and Regional Head, Advanced Markets and Global Accounts, (Europe, Americas, Australia, and New Zealand), Global Head – Alliances
Key Stats
- Key Partnerships
Microsoft and Oracle
- Key Customers
Customer value: Our clients have leveraged Finacle to gain outstanding value.
- Over 35% reduction in transaction costs – through automation, process optimizations, seamless integration across disparate applications across multiple channels
- 37% average reduction in effort to roll out products – due to flexibility of the solution enabled with extensive parameterization and extensibility
- 21% average improvement in time to serve customers – due to unified and real-time view of portfolio of the customer and his family relationships, drill down on transactions, interactions etc.
- Finacle is investing over 21 percent of revenues in R&D consistently over the last many years.