MauBank Adopts Infosys Finacle Leasing Solution to Drive Business Growth

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NYSE: INFY), and MauBank, a leading bank in the Republic of Mauritius, today announced the bank’s successful adoption of Finacle’s Leasing Solution for its strategic leasing services business. MauBank’s leasing system will run on a single platform that enables higher operational efficiency, reduced costs and an enhanced banking experience for its customers.

The merger of Mauritius Post and Cooperative Bank (MPCB) and National Commercial Bank (NCB) in January 2016 created the new MauBank, which is powered by Infosys Finacle Solutions that includes Core Banking, Online Banking, Treasury and Alerts. Furthermore, NCB’s subsidiary Mauritius Leasing Company, offering leasing products, was also integrated into MauBank and the Finacle Leasing Solution was chosen to replace its earlier legacy third-party platform.

Highlights:
· The implementation was completed in 10 weeks, with zero impact on ongoing customer services
· The bank has increased operational efficiency by over 40 per cent with the optimization of processes through the Finacle Leasing Solution
· With the new solution, the bank has eliminated duplicate systems and unified various components, achieving a 20 per cent saving in maintenance costs
· Automation of processes like statement generation, late fee computation and reconciliation, among others, have resulted in a significant drop in human error and person dependencies
· Integration of the new leasing solution with rest of the enterprise applications has ensured consolidation and optimization of customer data into a single source. This supports faster resolution of customer requests and enables the bank to make targeted offerings, thereby improving the end customer experience significantly

Quotes:
Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle:
“Simplifying the technology footprint is a critical step in renewing legacy systems and moving towards a truly digital banking experience. Following the merger, MauBank has been very progressive in its decision to consolidate and modernize its banking systems. The latest step towards a unified platform for their leasing services will ensure a sound technology foundation for the bank, enabling growth, profitability and a smarter banking experience for its customers.”

Sayyad Khodabocus, Head – IT Applications, MauBank:
“MauBank is committed to being the most progressive and preferred bank in Mauritius. Our aim of ensuring world-class banking services along with industry leading growth, is tied to consolidating our operations on best of breed banking platforms. We believe the Finacle Leasing Solution will help us scale our leasing operations and boost productivity, thus positioning the service line as a key business driver.”

Marcus by Goldman Sachs Deploys Finacle Solution on Cloud for its New Online Lending Business

Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), announced that Marcus by Goldman Sachs has implemented the Finacle Core Banking Solution for its consumer lending operations. Marcus, a brand of GS Bank, has deployed the Finacle solution to manage the complete consumer loan-servicing life cycle. The fully cloud-based model, hosted by Goldman Sachs, allows Marcus to achieve the necessary scale as well as provide enhanced functionality, business confidence and security to its consumers.

Highlights:
· Comprehensive research was conducted by Goldman Sachs to understand consumer preferences around unsecured lending and borrowing priorities. Marcus then used these insights to design differentiated consumer lending products on the Finacle solution.
· Marcus is now able to deliver extensive self-service capabilities on digital channels to design truly personalized products. The system will give end-consumers the flexibility to choose lending terms such as repayment amount and tenor.
· Marcus has designed and built modern technology operations by ensuring straight-through-processing across digital channels to the Finacle solution. Leveraging Marcus’ technical architecture, the Finacle solution optimised using the RESTful APIs and process orchestration capabilities.
· The entire program was completed in just eight months, leveraging the agile implementation framework and the pre-configured US-compliant Finacle Core Banking Solution. The solution provided out-of-the-box compliance for federal and state regulations, thus removing the potentially high cost and lengthy timeline of building a fully-functional, compliant technology platform in-house.
· The Finacle solution provides a 24/7, real-time, scalable platform which has helped to enable Marcus to create products, open accounts and manage the entire loan-servicing lifecycle, including payments, whilst ensuring a superior customer experience.
· Finacle’s open architecture, integration capabilities and scalability seamlessly aligned and became part of Goldman Sachs’ wider ecosystem of enterprise applications.

Quotes:
Sanat Rao, Chief Business Officer and Global Head, Finacle:
“Marcus by Goldman Sachs is displaying exemplary vision in creating new business opportunities by leveraging modern technology. With the Finacle solution, a real differentiated capability has been achieved by delivering personalized offerings and providing a customer experience to compete with traditional banks and new-age alternative lending providers. The implementation once again reiterates Finacle’s industry strengths to enable fast and low-risk digital transformation for financial institutions.”

Boe Hartman, CTO, Marcus by Goldman Sachs (Digital Finance Technology):
“With the successful deployment of the Finacle Core Banking Solution we have the agility to respond to customer needs, the scalability to adapt with market requirements while providing the superior customer experience required in today’s competitive digital age.”

Infosys Finacle Named a Leader among Customer-Centric Global Banking Solutions

Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), today announced that it has been named a leader by Forrester Research, Inc. in ‘The Forrester Wave™: Customer-Centric Global Banking Platforms, Q3 2016’ report. Finacle was recognized as a leader among nine top banking platforms, which were evaluated on a comprehensive set of 40 criteria focusing on strategy, current offering and market presence.

Assessing the market, Forrester mentions in the report that, “Many banks’ existing banking platforms still leverage overly mature — and in some cases ancient — technologies that are neither up to all of these business requirements nor provide a great basis for innovation. Thus, the vast majority of banks are already working on transforming their application landscape or planning to start doing so any time now.”

Highlights:
· Infosys Finacle received the highest score among all vendors for Current Offering
· With a score of 4.35 (out of 5), Infosys Finacle is the only vendor who scored above 4 in the category of Current Offering
· Infosys Finacle received the highest score possible on the criteria of ‘Channels and Touchpoints’, ‘Customer –focused product configurator’ and ‘Market Approach’

Quotes:
Referring to Finacle, Jost Hoppermann, VP and Principal Analyst, Forrester, says in the report, “EdgeVerve’s Infosys Finacle banking platform excels at current offering. Today, Infosys Finacle’s traditionally strong architectural focus shows key ingredients such as service-oriented architecture (SOA), components, SOAP and RESTful APIs, and API management. Infosys Finacle’s product configuration and bundling capabilities are particularly sophisticated. A reference client explained that the solution allowed his firm to significantly reduce time-to-market for new banking products. One powerful differentiator: Finacle’s preventive maintenance services, which are unique in this market today.”

Andy Dey, President – Customers & Operations, EdgeVerve
“Digitization of our world, changing customer demands, increased competition and margin pressures are driving banks to prioritize long-pending modernization decisions. With Infosys Finacle solution suite, we offer banks an opportunity to progressively modernize their legacy application environment and gain new capabilities to drive future growth. We believe, this assessment once again proves that Finacle is the stand out leader for banks looking to accelerate their digital transformation.”

About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. The solution helps financial institutions develop deeper connections with stakeholders, power continuous innovation, and accelerate growth in the digital world. Today, Finacle is the choice of banks across 94 countries, and serves over 848 million consumers – estimated to be nearly 16.5 percent of the world’s adult banked population.

Finacle solutions address core banking, online banking, mobile banking, CRM, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial institutions worldwide. Assessment of the top 1000 banks in the world reveals that institutions powered by Finacle enjoy 50 percent higher returns on assets, 30 percent higher returns on capital, and 8.1 percent points lesser costs to income than others.

To know more, visit www.finacle.com