ONE of the software solutions providers in the country, Computer Warehouse Group in collaboration with Infosys, have introduced the Finacle version 10, the next-generation solution for banking transformation.
However, Finacle 10 is a universal banking solution that addresses the core banking, customer relationship management, treasury, wealth management, consumer and corporate e-banking, mobile banking, financial inclusion and Islamic banking requirements of universal, retail and corporate banks globally.
According to Infosys, , the solution which is currently being used by about 14 financial institutions in the country, goes beyond technology enablement to empowering bankers with a holistic and integrated methodology to develop improved capabilities and build a stronger and more resilient business organisation.
Meanwhile, the Managing Director of Computer Warehouse Group, Mr Austin Okere while speaking to IT Journalists during a press conference last week in Lagos said that : “Finacle core banking solution is a comprehensive, integrated yet modular business solution that effectively addresses the strategic day-to-day challenges faced by banks.
It is highly parameterisable providing that much-needed flexibility to innovate and adapt to a dynamic environment.
According to him, “With Finacle core banking solution, banks can meet the challenges of managing change, competition, compliance and customer demands effectively. The solution provides banking customers real time access to banking services across channels making it a true multi-channel solution.”
Also speaking, the Vice President and Global Head, Client Services at Infosys, Mr Sanat Rao said for financial inclusion in much of the emerging market economies to become reality, a lot of banks need to change their core banking systems, adding that technology will be the greatest differentiator in this.
“The way people leverage technology has changed massively; any bank that doesn’t realise this will be left behind. Globally, the number of mobile phones and tablets sold locally are more than the number of PCs” he said .
“This tells us that the whole means of communication and doing business has changed both in advanced and emerging markets. While many people may not have access to banking facilities, the fact that they own mobile phones, they can perform banking transactions.”