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Infosys intros Finacle 11E 'advanced universal solution' for banking transformation

September 18, 2013

Infosys has announced the launch of Finacle 11E, an advanced universal banking solution whose enterprise component-based approach helps banks modernize their operations in a phased manner, while minimizing risk, according to an announcement.

"Complexity of business operations and need for technology modernization are amongst the biggest hurdles to accelerate growth today," said M. Haragopal, head of Finacle at Infosys. "Leveraging the componentized nature of Finacle 11E, banks can choose to deploy a solution in phases based on business priorities. This ensures simplified transformation journey and faster realization of modernization benefits."

CEB TowerGroup research director Robert Hunt said that componentized products help answer the reluctance large banks often feel about undertaking complex and risky core modernization projects.

"By componentizing their products, core vendors are providing banks with the flexibility needed to develop phased implementation plans that reduce this risk," Hunt said. "Moreover, componentization allows banks to prioritize their efforts, improving the business case for core modernization by focusing on functions that provide the greatest short term benefits."

Finacle 11E promises a simplified approach to banking transformation, the company said, citing the following features and benefits:

• componentized structure that makes it easy for banks to target new customer segments. FIs can also choose to replace existing systems one component at a time to modernize their business.
• product factory capabilities that empower banks to create and deploy new products in weeks instead of months.
• ready-made integration adaptors — and compliance to industry standards — ensure shorter deployment cycles and significantly lower total project costs.
• enterprise-class capabilities to help banks eliminate technology silos and duplicate applications, reducing their cost of operations and simplifying their processes.

With this release, Finacle has added six new enterprise components to its suite:

• payments;
• multichannel framework;
• offers and catalog;
• liquidity management;
• loan origination; and
• dashboards.

Finacle 11E delivers benefits that, in a case study by Aite, showed an annual rate of return of more than 55 percent on core banking transformation investments, the company said.

It also facilitates a faster launch of new products and services, according to Infosys: An independent study of 46 clients found an average improvement of 33 percent in time to market.

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