INDEX

Sr. NO. Contents Page NO.

1. Acknowledgement 1-1

2. Introduction 2-3

3. Objectives of the Study 4-5

4. Research Methodology 6-7

5. Theorisation 8-23

6. Findings & Suggestions 24-25

7. Conclusion 26-26

8. Bibliography 27-27
 Chapter 1:
ACKNOWLEDGEMENT

In the beginning, I want to elucidate that this project would have been a distant
without the grace of almighty god, who has blessed me with a crop of knowledge from his
might ocean.

First of all I would like to thanks Savitribai Phule Pune University for
providing me an opportunity to undertake a project as a partial fulfilment of BBA degree.
Special thanks to all those people who guided us the process and provide us knowledge about
their business flow.

I greatly appreciate the staff of the surveyed business unit, who responded
promptly and enthusiastically to all my queries in spite of their busy schedules. I am indebted
to all of them, who did their best to bring improvements through their suggestions. I would like
to thanks our guide. Prof. Shital Indani whose valuable guidance and encouragement at every
phase of the project has helped me to prepare this project successfully.

Finally, I would like to express my sincere thanks to my family, all the faculties,
office staff, and library staff of K. K. Wagh College, Nashik and friends who helped me in
some or other way in making this project.

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 Chapter 2:
INTRODUCTION

The banking industry has undergone a significant transformation in recent years,

with increasing demand for digital banking services and a growing need for enhanced customer
experience. Infosys Finacle is a comprehensive banking solution that has emerged as a popular
choice for banks and financial institutions to meet these evolving requirements. This project
report aims to provide a detailed analysis of the Infosys Finacle software, its features,
advantages and limitations, and its impact on the banking industry. The report will delve into
various aspects of the software, including its architecture, functionalities, and user interface,
and provide insights into the benefits and challenges of implementing the software in a banking
organization. Additionally, the report will explore case studies of banks and financial
institutions that have implemented Finacle software and evaluate the outcomes achieved. By
the end of this report, readers will have a thorough understanding of the potential of Infosys
Finacle software in transforming the banking industry and enhancing customer experience.

During the past several decades’ personnel function has been transformed from
a relatively obscure record keeping staff to central and top level management function. There
are many factors that have influenced this transformation like technological advances,
professionalism, and general recognition of human beings as most important resources.

A computer based management system is designed to handle all the primary

information required to calculate monthly statements of customer account which include
monthly statement of any month. Separate database is maintained to handle all the details
required for the correct statement calculation and generation.

This project intends to introduce more user friendliness in the various activities
such as record updation, maintenance, and searching. The searching of record has been made
quite simple as all the details of the customer can be obtained by simply keying in the
identification or account number of that customer. Similarly, record maintenance and updation
can also be accomplished by using the account number with all the details being automatically
generated. These details are also being promptly automatically updated in the master file thus
keeping the record absolutely up-to-date.

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 The entire information has maintained in the database or Files and whoever
wants to retrieve can’t retrieve, only authorization user can retrieve the necessary information
which can be easily be accessible from the file.

The aim of this project report is to provide an in-depth analysis of the Infosys
Finacle software, its architecture, functionalities, advantages, and limitations, and its impact on
the banking industry. The report will explore various aspects of the software, including its user
interface, scalability, security, and integration capabilities, and provide insights into the benefits
and challenges of implementing the software in a banking organization. Additionally, the report
will examine the various modules of Finacle, such as core banking, digital banking, and
treasury, and evaluate their effectiveness in enhancing customer experience and driving
business growth. The report will also analyze the market positioning of Infosys Finacle, its
competitive landscape, and future prospects. Overall, this project report will provide readers
with a comprehensive understanding of Infosys Finacle software and its potential to transform
the banking industry.

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 Chapter 3:
OBJECTIVES OF THE STUDY

A computer based management system is designed to handle all the primary

information required to calculate monthly statements of customer account which include
monthly statement of any month. Separate database is maintained to handle all the details
required for the correct statement calculation and generation.

This project intends to introduce more user friendliness in the various activities
such as record updation, maintenance, and searching. The searching of record has been made
quite simple as all the details of the customer can be obtained by simply keying in the
identification or account number of that customer. Similarly, record maintenance and updation
can also be accomplished by using the account number with all the details being automatically
generated. These details are also being promptly automatically updated in the master file thus
keeping the record absolutely up-to-date.
The main objective of our project is providing the different typed of customers
facility, the main objective of this system is to find out the actual customer service.

 It should fulfill almost all the process requirements of any Bank.

 It should increase the productivity of bank by utilizing the working hours more and
more, with minimum manpower.

This project includes the entire upgraded feature required for the
computerization banking system. This system is very easy to use, so that any user can use
without getting pre-knowledge about this. It is very much user friendly and meet almost all
daily working process requirements. This system is completely GUI based and can be used by
mouse and as well as keyboard. This system is melded in such a way that has got all features
to upgrade without making much change in existing components.

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 The main Objectives of this Project are as follow,

1. To describe the scope and objectives of the banking software project, including the
goals and expected outcomes of the project.
2. To provide an overview of the current state of banking software and the need for new
or improved software in the industry.
3. To outline the requirements for the new banking software, including functional and non-
functional requirements.
4. To describe the design and architecture of the banking software, including the
technologies and tools used.
5. To explain the implementation and testing process of the banking software, including
any challenges or issues that were encountered.
6. To provide a detailed evaluation of the banking software, including its performance,
usability, and security.
7. To discuss the potential benefits and impact of the banking software on the bank and its
customers, such as improved efficiency, better customer experience, and increased
profitability.
8. To identify any future enhancements or upgrades that could be made to the banking
software to further improve its functionality and performance.
9. To provide recommendations for other banks or financial institutions that are
considering similar banking software projects.
10. To conclude the report with a summary of the key findings, conclusions, and
recommendations.

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 Chapter 4:
RESEARCH METHODOLOGY

“A careful investigation enquiry especially through search for new facts in any
branch of knowledge.” Research methodology is a way to systematically solve the research
problem. It may be understood as a science of study how research is done scientifically. The
various steps that are generally adopted by researcher in study his research problem along with
the logic behind them. It is necessary for the researcher to know not only the research method
or techniques but also the methodology. Thus when we talk of research methodology we not
only talk of the research methods but also consider the logic behind the methods we use in the
contest of our research and explain why we are using a particular method or technique and why
we are not using others so that research are capable of being evaluated either by research
himself or by others. There is different source of collection data. This is the first stage in
statistics. Before deciding the source to collect the data one has to make a proper planning of
investigation and the purpose of inquiry.
Most of the data collected for this project is Secondary Data. Secondary data is
the data that is collected from the primary sources which can be used in the current research
study. Collecting secondary data often takes considerably less time than collecting primary data
where you would have to gather every information from scratch. It is thus possible to gather
more data this way. Secondary data can be obtained from two different research stands,
1. Secondary research: Secondary research will involve reviewing existing literature,
including academic papers, case studies, whitepapers, and industry reports, to gain a
broader understanding of the Infosys Finacle software and its impact on the banking
industry. The secondary research will cover aspects such as the software's features,
functionalities, architecture, and user interface, as well as its advantages, limitations,
and competitive landscape.
2. Data analysis: The data collected through primary and secondary research will be
analysed to identify patterns, trends, and key insights. This analysis will help in
developing a comprehensive understanding of the software, its implementation, and its
impact on the banking industry.
3. Case studies: The project report will also include case studies of banks and financial
institutions that have implemented Infosys Finacle software. The case studies will
provide real-world examples of how the software has been customized and integrated
into different banking environments, the outcomes achieved, and the challenges faced
during the implementation process.
4. Conclusion and recommendations: Based on the research findings, the project report
will provide a conclusion on the effectiveness of the Infosys Finacle software in
meeting the evolving needs of the banking industry. Additionally, the report will
provide recommendations on best practices for implementing and utilizing the software
to maximize its potential and achieve optimal outcomes.

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Published data were available in various resources including,
 Government publications
 Public records
 Historical and statistical documents
 Business documents
 Technical and trade journals

Unpublished data includes:

 Diaries
 Letters
 Unpublished biographies, etc.
Majority of information have been gathered from the Company’s official websites,
banks magazines, final report and customer’s online reviews and feedback, etc.

 Research Design:

 Collecting the required information

 Separating necessary and unnecessary data.
 Analysing the collected information.
 Interpreting the data.
 Finding the conclusion.

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 Chapter 5:
THEORISATION

 COMPANY PROFILE:

 Finacle is an industry leader in digital banking solutions. We partner with emerging and
established financial institutions to inspire better banking. Our cloud-native solution
suite and SaaS services help banks to engage, innovate, operate, and transform better.
Finacle is a business unit of EdgeVerve Systems, a wholly-owned product subsidiary
of Infosys is a global technology leader with over USD 15 billion in annual revenues.
We are differentiated by our functionally-rich solution suite, composable architecture,
culture, and entrepreneurial spirit of a start-up. We are also known for an impeccable
track record of helping financial institutions of all sizes drive digital transformation at
speed and scale. Today, financial institutions in more than 100 countries rely on Finacle
to help more than a billion people and millions of businesses to save, pay, borrow, and
invest better.

 Finacle solutions address the core banking, lending, digital engagement, payments, cash
management, wealth management, treasury, analytics, AI and blockchain requirements
of financial institutions. Finacle solutions support various modern and traditional
customer engagement channels, enterprise capabilities, line of business components,
and business segments, such as Retail, Wealth, Islamic, Business, and Corporate
banking. Finacle’s componentized structure allows banks to deploy and upgrade
solutions flexibly as per their business priorities. Our comprehensive and versatile suite
powers truly digital transformation for financial institutions of all types – traditional or
emerging, global or regional, Omni channel or digital-only.

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 Finacle help banks engage better with their customers, employees, and partners. We do
this by helping banks design and deliver truly personalized products and services. Built
on a unique engagement hub, our suite helps banks on-board, sell, service, and converse
better with customers. In fact, banks running on Finacle have realized an average 19%
improvement in their NPS scores.

 Finacle help banks differentiate with unique value propositions through continuous
innovation. Banks can go-to-market faster with our flexible product factories that bring
global innovations to life with simple configurations. Banks can compose
contemporary, future-ready digital business models with ease, using our open APIs,
webhooks, and App Centre. In fact, Banks running on Finacle have experienced an
average 20% improvement in ecosystem innovation and 16% uplift in digital sales.

 Finacle helps banks to transform better so that they can stay relevant to evolving market
dynamics. With a componentized digital suite and flexible deployment options, we
empower banks to mitigate risk and transform and upgrade in a phased manner. Their
DevOps tool chain helps banks to build, test, deploy and monitor new capabilities with
speed to stay ahead of the competition. Our global product suite, local expertise and a
team of in-house and partner experts is helping banks across 100+ countries to scale
their digital transformation with confidence. Simply put, in mission-critical
transformations, Finacle and our ecosystem partners ensure banks have access to
seasoned experts to help navigate the future.

 The industry-leading performance of Finacle’s clients reflects their promise of inspiring

better. An assessment of the top 1000 banks globally revealed that institutions powered
by Finacle enjoy –

 33 % higher returns on assets than others, with average returns on assets at 1.2%
and top-performing client at 4.7%
 19 % higher returns on capital than others, with average returns on capital at 15.6%
and top-performing client at 33%
 3.9 % points lesser cost-to-income ratio than others, with the average ratio at 47.2%
and top-performing client at 16%

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  HISTORY:

Banking softwares has come a long way since the first computer systems were
introduced to the industry in the 1960s. Today, banking software continues to evolve to meet
the changing needs of customers and financial institutions. Modern banking software includes
features such as fraud detection, risk management, and regulatory compliance.
The history of software used in banking dates back to the 1950s when banks
started to automate their accounting and record-keeping functions using mainframe computers.
The development of computers and software in the following decades led to the creation of
specialized banking software that could handle a wide range of financial transactions. The use
of mobile devices such as smartphones and tablets led to the development of mobile banking
apps that allowed customers to access their accounts and conduct transactions on the go. The
development of the internet and web-based technologies led to the creation of online banking
systems that allowed customers to access their accounts and conduct transactions from
anywhere.

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  Here is a brief history of banking software:

1. 1960s-1970s: Mainframe-based systems

The first banking software systems were developed in the 1960s and ran on mainframe
computers. These early systems were used for basic banking functions such as account
management and transaction processing.

2. 1980s: Branch automation systems

In the 1980s, banks began to implement branch automation systems. These systems allowed
bank employees to perform a wider range of tasks, such as opening accounts and issuing loans,
using a computer instead of manual processes.

3. 1990s: Client/server architecture

In the 1990s, banking software began to move away from mainframes and towards client/server
architecture. This allowed banks to distribute processing power and reduce costs.

4. 2000s: Online banking

The 2000s saw the rise of online banking, which allowed customers to access their accounts
and perform transactions through the internet. This required banks to develop new software
systems to support online banking.

5. 2010s: Mobile banking

The 2010s saw the emergence of mobile banking, which allowed customers to access their
accounts and perform transactions using their smartphones or tablets. Banks had to develop
new software systems to support mobile banking, including mobile apps and mobile-friendly
websites.

6. Present day: Cloud computing and artificial intelligence

Today, banking software is moving towards cloud computing and artificial intelligence (AI).
Cloud computing allows banks to store and process data on remote servers, reducing the need
for on-site hardware. AI is being used to improve customer service, detect fraud, and automate
processes such as loan approvals

Today, banking regulatory compliance software continues to evolve to meet the

changing needs of customers and financial institutions. Modern banking software includes
features such as fraud detection, risk management, and.

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  HISTORY OF FINACLE IN INDIA

Infosys Finacle is a banking software product that was developed by Infosys

Technologies Limited, an Indian multinational technology company. The history of Finacle
dates back to the early 1990s when Infosys started working on developing software for the
banking industry.

The first version of Finacle, called BankAway, was launched in 1999.

BankAway was a web-based banking platform that allowed customers to access their accounts
online and perform transactions. It was developed in response to the growing demand for online
banking services in the late 1990s.In 2000, Infosys launched Finacle 1.0, a comprehensive
banking solution that included features such as core banking, treasury management, and trade
finance. Finacle 1.0 was designed to help banks streamline their operations and improve their
efficiency. Over the next decade, Finacle continued to evolve and expand its capabilities. In
2002, Finacle 2.0 was launched, which included features such as loan origination and wealth
management. In 2006, Finacle 7.0 was launched, which introduced support for mobile banking
and customer relationship management.

In 2010, Infosys released Finacle 10, which was a major overhaul of the
software. Finacle 10 was designed to be more modular and flexible, allowing banks to
customize the software to meet their specific needs. It also introduced support for emerging
technologies such as cloud computing and social media.

Since the launch of Finacle, it has become one of the most widely used banking
software products in the world, with over 200 banks in more than 100 countries using the
software. Today, Finacle continues to evolve and adapt to new technologies and changing
market conditions, helping banks to stay competitive and meet the evolving needs of their
customers.

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  Brief history of Finacle:

o 1999: Infosys Technologies Limited launched Finacle, a universal banking solution that
offered a range of functionalities such as core banking, online banking, mobile banking,
and customer relationship management (CRM).
o 2001: The first international client for Finacle was acquired, marking the software's
global presence.
o 2003: Finacle became the first banking software product to be certified for the Java
Platform, Enterprise Edition (Java EE) version 1.4.
o 2004: Infosys partnered with IBM to offer a comprehensive banking solution that
combined IBM hardware and software with Finacle.
o 2006: Finacle launched a version that was specifically designed for Islamic banking.
o 2009: Finacle introduced its "Bank in a Box" solution, which offered pre-configured
software and hardware for small and medium-sized banks.
o 2011: Finacle was recognized as a Leader in Gartner's Magic Quadrant for International
Retail Core Banking.
o 2014: Infosys introduced Finacle 11E, which offered a simplified user interface,
enhanced security features, and support for cloud computing.
o 2017: Finacle was recognized as a Leader in Gartner's Magic Quadrant for International
Retail Core Banking for the 11th consecutive year.
o 2018: Infosys introduced Finacle Trade Connect, a blockchain-based solution for trade
finance.
o 2021: Finacle was recognized as a Leader in Gartner's Magic Quadrant for International
Retail Core Banking for the 14th consecutive year.

Today, Finacle is used by banks in over 100 countries, and it continues to be one
of the leading banking software products in the world.

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  IMPLEMENTATION OF FINACLE BY VARIOUS BANKS:

Finacle is a banking software product developed by Infosys. It is used by banks

and financial institutions in over 100 countries to manage their operations and provide banking
services to their customers. Here are some examples of banks that have implemented Finacle:

1. State Bank of India (SBI): SBI is India's largest bank and has been using Finacle since
2003. It is used to manage the bank's core banking operations, including account
management, transactions, and customer service.
2. ICICI Bank: ICICI Bank, one of the leading private sector banks in India, has been
using Finacle since 2002. It is used to manage the bank's retail, corporate, and
investment banking operations.
3. Emirates NBD: Emirates NBD, one of the largest banks in the United Arab Emirates
(UAE), has been using Finacle since 2011. It is used to manage the bank's core banking
operations and provide a seamless banking experience to customers.
4. Barclays Bank: Barclays Bank, a multinational bank based in the United Kingdom, has
been using Finacle since 2015. It is used to manage the bank's corporate and investment
banking operations.
5. Commonwealth Bank of Australia (CBA): CBA, one of Australia's largest banks, has
been using Finacle since 2008. It is used to manage the bank's core banking operations,
including account management and transaction processing.
Following are the notable names of the banks which believes in Finacle.
1. State Bank of India (SBI)
2. ICICI Bank
3. Axis Bank
4. HDFC Bank
5. Punjab National Bank (PNB)
6. Bank of Baroda
7. Canara Bank
8. IDBI Bank
List of Banks using Finacle Worldwide
9. Indian Overseas Bank (IOB)
10. Union Bank of India

These are just a few examples of banks that have implemented Finacle. Many
other banks and financial institutions around the world use Finacle to manage their operations
and provide banking services to their customers.

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  IMPLEMENTATION PROCESS OF FINACLE SOFTWARE:

Implementing Finacle requires a significant investment of time, resources, and

effort. However, with proper planning, preparation, and execution, it can provide a powerful
and flexible core banking solution that can help banks streamline their operations and improve
customer service.
1. Planning and Preparation: In this stage, the bank should determine its objectives and
goals for the implementation of Finacle. The bank should also identify the team that
will be involved in the implementation and define their roles and responsibilities.
Additionally, the bank should create a detailed project plan that includes timelines,
milestones, and budget.

2. Installation and Configuration: The next stage involves installing Finacle and
configuring it to meet the bank's requirements. This includes setting up the database,
servers, and other hardware and software components necessary for the system to
operate. The bank should also configure the various modules of Finacle, such as
customer relationship management, account opening, and loan processing.

3. Data Migration: Once the system has been configured, the bank needs to migrate its
existing data from its legacy system to Finacle. This can be a complex process that
requires careful planning and execution to ensure that the data is accurately transferred.

4. Testing and Validation: In this stage, the bank should conduct extensive testing of the
Finacle system to ensure that it meets its requirements and functions as expected. This
includes testing for performance, security, and functionality. The bank should also
validate the system with key stakeholders to ensure that it meets their needs.

5. Training and User Acceptance: Once the system has been tested and validated, the
bank should provide training to its employees to ensure that they are proficient in using
Finacle. This includes training on the various modules of the system, as well as any
new processes and procedures that have been introduced. The bank should also conduct
user acceptance testing to ensure that the system is accepted and used by its employees.

6. Go-live and Post-implementation Support: The final stage is the go-live phase,
where the bank switches over to using Finacle. The bank should closely monitor the
system in the initial weeks after go-live to ensure that it is operating as expected.
Additionally, the bank should provide ongoing support to its employees and address
any issues that arise.

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 KEY FEATURES OF FINACLE:

 Seamless Products Launch

Today’s banking customers consume innovation and personalized products as well as
services. Finacle software supports banks to take new banking products to market in
quick time. It can be leveraged by various types of banks including micro-finance
institutions, private & public sector banks, co-operative banks, FinTech companies and
non-banking providers.

 Product Factory
1000+ parameters and reusable business rules to configure banking products and
services.

 More Power to customers

Customer-led design and customized products and services on digital channels.

 Reusability
Templates-driven to create new products, modify existing ones, and rapid deployment
of new products.

 Third-party products configuration

Flexibility for banks to set up rule-based third-party products

 Products bundles configuration

Bundle variety of products and services to enable right-sell

 Ultra-Modern Digital Platform

The rapid pace in technology adoption is transforming banks. Finacle supports to
embrace digital-driven growth with its ultra-modern digital platform.

 Optimal Mix of Componentization

Componentized structure and API based integration of components.

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 Open APIs
Extended Restful API for co-innovation with the external ecosystem.

 Cloud Capabilities
Production, development and testing across private, hybrid and public cloud.

 Platform Agnostic
It runs on a number of technology platforms such as IBM, Oracle, Intel, HP, UNIX,
Linux and mainframe. It offers complete stack of open source technologies such as
JBOSS app server, RHEL, JBPM, Drools, and Enterprise DB.

 Real-Time Processing
Processes and posts transactions in real-time on own and third-party channels of
origination.

 Scalability
Proven availability and performance in both simulated and live client environments.

 Extensibility
Extends the platform using a set of GUI based tools without changing the base product
source code.

 Multi-Capabilities
Multi-entity, multi-currency, multilingual, multi-time zone capabilities to support
multinational operations.

 Modern Security
Application-level security capabilities include identity and access management, user
role management, limits, and exception management.

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 How banks reduce operational costs with Finacle?
During the pandemic, banks were under constant pressure to reduce
operational costs. The challenging situation continues in the post-pandemic. They need
to balance the cost while customers’ expectation for better products, services and
experiences. With automation, Finacle helps banks to reduce operational costs.
o Rule-Based Automation
It utilizes traditional levers including rule-based, API-driven processing and BPM-led
process orchestration to automate a range of banking operations.
o Robotic Process Automation powered with Artificial Intelligence
It works with an array of AI-based platforms and applications. Robotic Process
Automation tools can coordinate with Finacle Automation Platform to cut down cross-
application process execution time.
o Blockchain-based Networks
With Blockchain technology, Finacle empowers banks to automate their inter-
organization processes. It is working with many clients to implement block-chain based
networks for banks.
o Multi-Country Operational Hubs
Banks can deploy regional or international processing hubs for different capabilities to
reduce duplicate effort across various locations.
o Finacle Deployment and Upgrade Solution
Finacle offers the flexibility to deploy in anyplace at any time. It supports all strategies
that include comprehensive digitalization, bank-in-a-bank, and digital-only bank, to
make the deployment simpler and faster. The three foundations of Finacle risk mitigated
transformation approach are:
o Bank Model References
Finacle is packed with reference bank models for emerging and developed markets. It
offers localized solutions to enable implementation in quick time. On top of the base
product, the localization components are built to support regional requirements.
o Incremental Deployment and Upgrades
Banks have the flexibility to pick and choose the system components. They can choose
customized solutions such as Finacle retail banking or single module such as demand
deposits.
o Agile Delivery Model
Banks can practice agile implementation with the ability to quickly deploy only the
components they need at first and enhance them later as required.
In the post-pandemic era, banking customers strongly expect a smooth
experience from banks more than ever. To deliver uninterrupted and seamless
operations, banks should leverage the power of digitalization. Finacle addresses the
core-banking requirements of financial institutions to drive business excellence. Banks
can gain a comprehensive set of capabilities to transform themselves into the digital
landscape.

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  APPLICATIONS OF FINNACLE CORE BANKING SOLUTIONS:
Infosys Finacle is a banking software solution that offers a range of applications and modules
that can be customized to suit the needs of different financial institutions. Here are 20 common
applications of Infosys Finacle software:

1. Core Banking: Finacle Core Banking solution is a centralized platform that enables banks
to manage all their transactions in real-time.

2. Customer Relationship Management (CRM): Finacle CRM solution helps banks manage
their customer interactions and improve customer experience.

3. Online and Mobile Banking: Finacle offers online and mobile banking solutions that enable
customers to access banking services from anywhere, anytime.

4. Payments and Settlements: Finacle Payments and Settlements solution enables banks to
process various types of payments including NEFT, RTGS, and IMPS.

5. Trade Finance: Finacle Trade Finance solution automates the trade finance operations of
banks, including letters of credit, guarantees, and bills of exchange.

6. Treasury Management: Finacle Treasury Management solution helps banks manage their
liquidity, market risks, and investments.

7. Wealth Management: Finacle Wealth Management solution enables banks to offer

customized investment solutions to their high-net-worth clients.

8. Cash Management: Finacle Cash Management solution helps banks manage their cash
flows and optimize their cash positions.

9. Anti-Money Laundering (AML): Finacle AML solution helps banks comply with anti-
money laundering regulations by detecting and preventing money laundering activities.

10. Fraud Management: Finacle Fraud Management solution enables banks to detect and
prevent fraudulent activities such as credit card fraud, identity theft, and phishing.

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11. Electronic Bill Presentment and Payment (EBPP): Finacle EBPP solution enables banks
to offer electronic billing and payment services to their customers.

12. Loan Management: Finacle Loan Management solution automates the loan origination,
servicing, and collections processes of banks.

13. Retail Banking: Finacle Retail Banking solution enables banks to offer a range of retail
banking services, including savings accounts, loans, and credit cards.

14. Corporate Banking: Finacle Corporate Banking solution enables banks to offer
customized banking services to their corporate clients.

15. Islamic Banking: Finacle Islamic Banking solution helps banks offer Sharia’s-compliant
banking products and services.

16. Insurance: Finacle Insurance solution enables banks to offer insurance products and
services to their customers.

17. Branch Automation: Finacle Branch Automation solution automates the various branch
operations of banks, including account opening, cash management, and customer service.

18. Document Management: Finacle Document Management solution enables banks to

manage their documents and records efficiently.

19. Compliance Management: Finacle Compliance Management solution helps banks

manage their regulatory compliance obligations.

20. Analytics: Finacle Analytics solution enables banks to analyse their data and gain insights
into customer behaviour, product profitability, and risk management.

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  ADVANTAGES OF FINACLE:

 Advantages to the banks:

Infosys Finacle is a comprehensive banking solution that provides a wide range of advantages
for banks and financial institutions. Some of the key advantages of Infosys Finacle software
are:
1. Scalability: The software is highly scalable and can be customized to meet the specific
needs of different types and sizes of banks and financial institutions.

2. Flexibility: Finacle software is highly flexible and can be easily integrated with existing
systems to provide a seamless and enhanced banking experience to customers.

3. Efficiency: The software automates many banking processes, resulting in increased

efficiency and productivity.
4. Innovation: Finacle software is designed to enable banks to quickly launch new
products and services, keeping up with the rapidly evolving banking industry.

5. Security: The software is highly secure, ensuring the safety of customer data and
transactions.

6. Customization: The software can be customized to meet the specific needs of each bank,
allowing for a tailored banking experience.

7. Compliance: Finacle software is compliant with all regulatory requirements, making it

a reliable and trustworthy solution for banks and financial institutions.

8. Customer-centricity: The software is designed to provide a seamless and convenient

banking experience to customers, with features such as mobile banking and online
banking.
Overall, Infosys Finacle software provides a comprehensive and reliable solution for banks and
financial institutions, enabling them to deliver a superior banking experience to customers
while improving efficiency and productivity.

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  Advantages to the customers:
Infosys Finacle provides several advantages to customers of banks and financial
institutions. Some of the key advantages of Finacle to customers include:

1. Convenient banking: Finacle enables customers to perform banking transactions from

the comfort of their homes, offices or anywhere using mobile banking, online banking
and other digital channels.

2. Seamless banking experience: With Finacle, customers can enjoy a seamless banking
experience with easy navigation, simplified processes and intuitive interfaces.

3. Enhanced customer service: Finacle allows for a more personalized approach to

customer service, giving customers access to relevant information and services based
on their preferences and needs.

4. Access to new products and services: Finacle enables banks to launch new products and
services quickly, giving customers access to innovative and relevant solutions to meet
their financial needs.

5. Secure transactions: Finacle is designed to ensure secure and safe banking transactions
for customers, protecting their data and information from unauthorized access.

6. 24/7 banking: With Finacle, customers can access banking services 24/7, making
banking more convenient and accessible.

7. Timely and efficient service: Finacle enables banks to provide faster and more efficient
services to customers, reducing wait times and ensuring timely responses to their
queries.

8. Overall, Finacle provides customers with a more convenient, efficient, and personalized
banking experience, giving them access to a range of digital banking services and
innovative products to meet their financial needs.

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  DISADVANTAGES OF BANKING SOFTWARES:
While banking software provides many benefits to banks and customers, there
are also some disadvantages that need to be considered. Here are some potential disadvantages
of banking software:

1. Security risks: Banking software is vulnerable to cyber attacks, hacking and other
security breaches. A single security breach can compromise sensitive customer data,
leading to significant losses for banks and customers alike.

2. Technical issues: Banking software may encounter technical glitches or bugs, which
can cause errors or system downtime. These issues may impact the availability and
accuracy of banking services, leading to customer dissatisfaction and loss of trust.

3. Dependence on technology: Banks that rely heavily on software and digital systems
may become vulnerable to technology failures, such as power outages or hardware
malfunctions. Such events can lead to significant business disruption and customer
inconvenience.

4. Complexity: Banking software is often complex and may require specialized expertise
to operate and maintain. This complexity can result in longer implementation times,
higher costs and a need for ongoing training and support.

5. Limited customization: Some banking software may have limited customization

options, which can restrict banks from tailoring their services to meet the unique needs
of their customers.

6. Cost: Implementing and maintaining banking software can be expensive, especially for
smaller banks with limited budgets. The cost of licensing, training, and ongoing support
can add up quickly.

Overall, while banking software offers many benefits, it also poses several risks
and challenges that need to be carefully considered and addressed to ensure optimal
performance and customer satisfaction.

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 Chapter 6:
FINDINGS & SUGGESTIONS

 Findings:

Infosys Finacle is a digital banking solution offered by Infosys, a global

leader in technology and consulting services. The platform is designed to help banks
and financial institutions to streamline their operations and enhance their customer
experience by providing a comprehensive suite of banking solutions.

Some of the key features of Infosys Finacle include:

1. Core Banking: Finacle provides a robust core banking solution that enables
banks to manage their financial transactions, accounts, and customer
information in real-time.

2. Digital Channels: The platform provides a range of digital channels such as

mobile banking, internet banking, and social media banking to help banks
deliver a seamless and personalized experience to their customers.

3. Payments: Finacle offers a comprehensive payments solution that enables

banks to process transactions quickly and efficiently while ensuring security and
compliance.

4. Analytics: The platform provides powerful analytics and reporting tools that
help banks gain insights into customer behaviour, market trends, and operational
performance.

5. Blockchain: Finacle leverages blockchain technology to provide secure and

transparent transactions, reducing the need for intermediaries and minimizing
fraud.

Finacle offers a comprehensive suite of solutions, including retail

banking, corporate banking, and treasury payments, and wealth management. The
software is built on a modern architecture that enables it to be easily integrated with
third-party applications and services. It is designed to be highly scalable and can
support banks of all sizes, from small community banks to large multinational financial
institutions. Finacle provides a range of tools and features that help banks improve
efficiency and streamline their operations, including real-time processing, straight-
through processing, and automated workflows. Finacle is continually updated with new
features and functionality to ensure that it remains a cutting-edge banking software
solution.

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 Overall, the Infosys Finacle has been successful in providing banks with
a comprehensive and scalable digital banking solution that can help them stay
competitive in an increasingly digital landscape.

 Suggestions:

1. Improve User Interface: Make the software more user-friendly and intuitive, with
a simplified interface that allows users to navigate easily.

2. Increase Customization: Provide more customization options to customers, so they

can tailor the software to meet their specific needs.

3. Enhance Security Features: Continuously improve the security features of the

software to ensure that it can protect against evolving cyber threats.

4. Expand Mobile Capabilities: Develop a mobile app that allows users to access
Finacle features on-the-go, including account management, transfers, and bill
payments.

5. Offer Multi-Lingual Support: Provide support for multiple languages to make the
software accessible to customers in different regions and countries.

6. Integrate AI and Machine Learning: Implement AI and machine learning

algorithms to improve the accuracy and efficiency of the software.

7. Provide Comprehensive Analytics: Develop comprehensive analytics tools that

enable users to gather insights about their financial performance, customers, and market
trends.

8. Increase Cloud Compatibility: Ensure that the software is compatible with cloud
platforms and can be easily deployed on cloud-based infrastructures.

9. Enable Open Banking: Facilitate open banking by providing APIs that allow third-
party developers to integrate with the software and build new applications.

10. Simplify Integration: Simplify the integration process with other systems and
software by providing clear documentation and support to customers

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 Chapter 7:
CONCLUSION

In conclusion, the Infosys Finacle software is a powerful and comprehensive

banking software that offers a wide range of features and capabilities to banks and financial
institutions. With its flexible architecture and modular design, Finacle can be customized to
meet the specific needs of any bank, regardless of size or complexity.

Through my research and analysis, we have found that Finacle offers several
benefits to banks, including improved operational efficiency, enhanced customer experience,
and increased profitability. The software's advanced analytics and reporting capabilities also
provide banks with valuable insights into their operations and customer behaviour, enabling
them to make informed decisions and drive growth.

Overall, I believe that the Infosys Finacle software is a leading solution for
banks and financial institutions looking to modernize and optimize their operations. Its proven
track record, extensive feature set, and commitment to innovation make it a valuable asset for
any bank seeking to stay ahead of the competition in today's rapidly evolving financial
landscape.

The Infosys Finacle represents a major advancement in the field of banking

software. With its comprehensive suite of modules and features, the software is capable of
addressing the needs of modern financial institutions, while also providing a flexible and
scalable platform for future growth. The project has demonstrated Infosys' expertise in the field
of banking software development, as well as their commitment to innovation and customer
satisfaction. As the banking industry continues to evolve and adapt to new technologies, the
Infosys Finacle project is well-positioned to help financial institutions stay ahead of the curve
and meet the needs of their customers.

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 Chapter 8:
BIBLIOGRAPHY

 Websites:

1. https://www.infosys.com/

2. https://www.edgeverve.com/finacle/

3. https://en.wikipedia.org/wiki/Infosys

4. https://handwiki.org/wiki/Software:Finacle

5. https://in.linkedin.com/company/finacle

 Books and Magazines:

1. Infosys Finacle: a digital disruption platform for finance giants

2. Finacle Connect: Connecting the Banking World

3. FinTech Futures

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