Finacle Banking Platform Features and Benefits

Finacle is a comprehensive banking platform that offers a wide range of features and benefits to financial institutions. It's designed to help banks streamline their operations, improve customer experience, and increase revenue.

Finacle's open architecture allows for seamless integration with third-party systems, enabling banks to create a customized solution that meets their unique needs. This flexibility is a major advantage for banks looking to modernize their technology infrastructure.

One of the key benefits of Finacle is its ability to support multiple channels, including online, mobile, and branch banking. This allows banks to provide a consistent customer experience across all touchpoints.

Finacle's cloud-native solutions cater to the diverse needs of financial institutions globally.

The platform addresses various customer engagement channels, including digital banking solutions and SaaS services.

It supports modern and traditional banking requirements, facilitating innovation and growth.

Finacle's suite includes core banking, lending, digital engagement, payments, wealth management, analytics, and blockchain solutions.

These solutions help financial institutions meet the diverse needs of their customers and stay competitive in the market.

The platform is designed to be comprehensive and composable, allowing financial institutions to choose the features and services they need.

The Finacle platform is a game-changer for banks, allowing them to rapidly adopt new technologies and stay ahead of the curve.

Finacle's ultra-modern digital platform is designed to support digital-driven growth, helping banks to transform and stay competitive in today's fast-paced market.

This platform empowers banks to deliver customized services to organizations of all sizes and scales, making it a valuable tool for corporate banks globally.

Finacle's cutting-edge Corporate Banking Solution Suite is a comprehensive solution that caters to corporate banks worldwide, addressing their needs across various areas such as deposits, lending, and cash management.

The suite includes a robust API solution that enables the exploration of new business models and encourages innovation within ecosystems.

By leveraging modern technologies like cloud computing, AI/ML, advanced analytics, open APIs, and blockchain, Finacle's suite facilitates the introduction of innovative offerings and propositions.

This digital transformation reshapes the landscape for both corporate banks and their clientele in the digital era.

Finacle's extensibility feature allows you to extend the platform using a set of GUI-based tools.

This means you can add new functionality without having to change the base product source code, making it a convenient and efficient way to customize your system.

The GUI-based tools make it easy to extend the platform, even for those without extensive technical expertise.

This approach also ensures that your customizations are seamless and don't compromise the overall performance of the system.

Finacle helps banks reduce operational costs by leveraging ubiquitous automation. This is especially important during challenging times like the pandemic, when banks need to balance cost reduction with customers' increasing expectations for better products and services.

Rule-Based Automation is a key feature of Finacle, utilizing traditional levers such as rule-based, API-driven processing, and BPM-led process orchestration to automate a range of banking operations.

Finacle's full-stack managed services and SaaS models empower banks to achieve operational excellence by reducing Total Cost of Ownership (TCO) and streamlining IT infrastructure. This enables banks to focus on driving innovation and enhancing customer engagement.

With Finacle on Cloud, banks can optimize resource allocation and unlock growth opportunities with enhanced agility. This is made possible by efficient cloud operations with 24x7 support, allowing banks to ensure business continuity.

Robotic Process Automation powered with Artificial Intelligence works with an array of AI-based platforms and applications, cutting down cross-application process execution time. This can be achieved by coordinating with Finacle Automation Platform.

Finacle leverages Blockchain technology to automate inter-organization processes for banks.

By working with many clients, Finacle implements Blockchain-based networks that benefit banks.

Finacle's use of Blockchain technology streamlines processes and increases efficiency.

Blockchain-Based Networks are revolutionizing the way banks operate, allowing them to automate inter-organization processes.

Finacle is working with many clients to implement blockchain-based networks for banks, enabling them to streamline their operations and reduce costs.

With blockchain technology, banks can now trust each other without needing intermediaries, making transactions faster and more secure.

This technology has the potential to increase efficiency and transparency in banking, making it a game-changer for the industry.

Finacle solutions are built on a cloud-native and cloud-neutral foundation, ensuring seamless deployment and portability across different cloud environments.

This means that banks can deploy Finacle on private, public, or hybrid clouds, giving them the flexibility to choose the best cloud environment for their needs.

Finacle applications utilize microservices running in a containerized environment orchestrated by Kubernetes, ensuring scalability and high performance.

By using cloud-native and cloud-neutral architecture, Finacle components offer enhanced agility, scalability, and progressive upgrades.

Containerization through Docker and orchestration via Kubernetes contribute to an enterprise-ready architecture that simplifies development and ensures efficient operations.

A microservices-based design and adherence to twelve-factor app principles also enable Finacle to deliver an architecture that is easy to develop and operate.

Finacle's cloud-native and cloud-neutral architecture is designed to meet the diverse requirements of banks, allowing for Software-as-a-Service access and catering to banks of all sizes and personas.

Finacle offers a flexible deployment option that can be done anywhere, at any time, making it simpler and faster to deploy.

Finacle's cloud-based solution, Finacle on Cloud, provides a cutting-edge platform for banks globally, allowing for Software-as-a-Service access and built on Cloud Native Computing Foundation standards.

Finacle on Cloud is designed to meet the diverse requirements of banks, supporting private, public, or hybrid clouds, and utilizing microservices running in a containerized environment orchestrated by Kubernetes.

This flexibility enables banks to accelerate their cloud adoption journey and achieve operational excellence, unparalleled agility, enhanced customer engagements, and resilience at scale.

Finacle's cloud-based core banking platform ensures resilient banking operations by offering elastic scaling, dynamic load balancing, and preventive maintenance services.

With features like Finacle Assure for application monitoring, multi-AZ deployments, and robust cloud security capabilities, the platform enables banks to maintain high performance and availability even during challenging disruptions.

Finacle helps banks achieve operational excellence by reducing Total Cost of Ownership (TCO) and streamlining IT infrastructure through its full-stack managed services and various SaaS models.

By embracing Finacle on Cloud, banks can optimize resource allocation and unlock growth opportunities with enhanced agility. This enables them to focus on driving innovation and enhancing customer engagement.

With Finacle's cloud-based core banking platform, banks can ensure resilient banking operations by offering elastic scaling, dynamic load balancing, and preventive maintenance services.

Banks can deploy regional or international processing hubs for different capabilities to reduce duplicate effort across various locations.

This approach allows banks to streamline their operations and achieve greater efficiency by centralizing certain functions and eliminating redundant tasks.

By having a centralized hub, banks can easily manage and maintain their operations, reducing the complexity and costs associated with managing multiple locations.

Finacle's flexible deployment options enable banks to choose the best location for their hub, whether it's a private, public, or hybrid cloud, tailored to their specific needs.

This flexibility allows banks to adapt to changing market conditions and customer needs, making it easier to innovate and stay competitive.

By leveraging Kubernetes for orchestration and containerization, Finacle ensures optimal performance, scalability, and security, regardless of the chosen cloud provider.

Achieving operational excellence is crucial for banks to stay competitive in today's market. By embracing Finacle's full-stack managed services and SaaS models, banks can reduce their Total Cost of Ownership (TCO) and streamline their IT infrastructure.

Finacle's cloud-based platform supports efficient cloud operations with 24x7 support, allowing banks to focus on driving innovation and enhancing customer engagement. This enables banks to optimize resource allocation and unlock growth opportunities with enhanced agility.

Banks can achieve operational excellence by leveraging Finacle's cloud technology, which ensures resilient banking operations through elastic scaling, dynamic load balancing, and preventive maintenance services. This ensures high performance and availability even during challenging disruptions.

By adopting Finacle, banks can reduce operational costs and improve their overall efficiency. With Finacle's comprehensive suite of banking functionalities, banks can streamline operations, reduce costs, and enhance customer experience.

In 2013, technical issues emerged after Infosys took over the MCA21 portal from Tata Consultancy Services. This was the first sign of trouble with government portals.

Similar problems arose in 2016 after a system migration and version update. This suggests that even planned upgrades can go awry.

The finance ministry identified glitches in the GSTN portal in 2020, leading to a summons for Infosys executives. This highlights the importance of accountability in government IT projects.

Chartered accountants and tax professionals raised concerns over technical issues with the GSTN portal in 2022. Despite these issues, the portal remains in use.

The newly launched Income Tax portal, developed by Infosys, encountered multiple glitches in 2021. This caused significant problems for users trying to file their taxes.

Despite a summons for Infosys CEO Salil Parekh, the issues remained unresolved for months, forcing an extension of the tax filing deadline. This demonstrates the impact of technical issues on critical government services.

Users continued to report malfunctions and issues on the first anniversary of the portal's launch in 2022. This suggests that the problems were not isolated incidents.