History and background of Finacle from Infosys
Finacle® from Infosys helps banks win in the Flat World by providing a holistic and integrated transformation approach, complete with solutions and services. This proven and effective framework for multidisciplinary change, enables banks to shift their strategic and operational priorities.
Finacle® solutions address the core banking, e-banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide. With Infosys recently acquiring the IP of finanz tools, a highly reputed technical specialist software comprising best-of-breed solutions in carefully chosen and well defined niches and categories, the Finacle universal banking solution has extended to include finanz tools.
Over the last ten years, finanz tools has been providing corporate online and in-branch based solutions and has been leveraged by a number of very large banks, often playing a central aole to mission critical sales of their core lending and savings products. Initially focusing on advanced financial calculators, simulators, and their role as sales and marketing tools for the financial services sector, the range grew to include product selectors in 2004, facilitating novel product selection, comparison, ranking and filtering. Major corporate clients have included the Commonwealth Bank of Australia and ANZ Bank in Australia, Halifax, Abbey and Barclays Banks in the UK, and the National Australia Group in Europe. Large-scale projects with these clients have included: Providing the Whatif-Loan home loan sales tool to the Commonwealth Bank of Australia. This was quickly deployed into every retail branch and call centre and remained the key selling tool for all home loans for the CBA, a fundamental part of the bank's product portfolio, until its eventual retirement in 2000.
Providing a suite of Java Applets to Barclays Bank plc for supporting the sale of mortgage products online, in call centres, specialist lending centres, and offline by mobile lenders, Brokers and IFA's (Independent Financial Advisors), where they continue to be used today. Finanz tools, featuring advanced calculation and graphing engines, have been very successful in the market since their launch back in 1999. A key feature of our companion online selector products for the Banking and Finance sector is that the calculation engine of finanz tools can be embedded into the selection engine of these online selectors to provide a full browse, select and illustration experience for financial products.
Providing a large suite of finanz tools covering all aspects of retail bank sales and some aspects of business banking for the National Australia Bank Group (Europe). These tools were tightly integrated into a Siebel CRM system and have become a critical component of the in-branch core sales platform of that group's retail banks. In 2005, the relationship was further extended by the provision of a server-side calculation engine and online web application that generates Key Facts Illustrations as PDF files for mortgage brokers in the UK.
For more information on Finacle visit: www.infosys.com/finacle