Finacle Omnichannel Hub Unified Digital Engagement Solution
Finacle Omnichannel Hub Reimagine banking with a seamless cross-channel experience Today banks are dealing with the most connected, aware and communicative customers ever in an era of margin pressures; uncertain economic and social trends; on-the-go technology and newer paradigms such as blockchain and pervasive IoT; newer technology enablers for non-traditional competitors; and, changing customer aspirations on offerings, channels of adoption and paradigms of open banking. Customers expect their banks to adapt to their needs and preferences, and make services available on a channel and time that s convenient to them. They demand their interactions to be truly omnichannel - allowing them to initiate a transaction in one channel and seamlessly complete it in another. And more importantly, the user engagement must be consistent across assisted and unassisted channels. However, most of the financial institutions are saddled with silo-based channel applications leading to inadequate inter-channel communications and disparate processes. Hence, banks find it exceedingly difficult to provide consistency of information and personalization of service across channels that their customers desire. Realizing this, banks around the world have adopted differentiated omnichannel experience as an important theme in their business and technology plans. Banks are looking to leverage their existing investments in channel applications to execute their newer channel engagement plans effectively and seamlessly ensuring that all channels (assisted and unassisted) are able to deliver these innovations at par with efficiency. 2 External Document 2017 EdgeVerve Systems Limited
Finacle Omnichannel Hub Finacle Omnichannel Hub is a unified digital engagement solution that empowers banks to offer seamless and consistent banking experience across channels. Leveraging this solution, banks can centralize channel rules and business processes to accelerate the launch of new channels as well as the rollout of new products and services across channel applications. The solution helps banks enhance customer engagement by delivering consistent real-time information of sales and services across channels. It enables customers to navigate seamlessly across channels without losing the transaction context. It offers comprehensive insights into customers channel usage and preferences to empower banks to design optimal channel strategies for various segments. A robust integration platform enables banks to deploy the framework along with their existing channel applications, to significantly lower Total Cost of Ownership (TCO). Finacle Omnichannel Hub is a host and channel agnostic solution that integrates with back-end line-of-business systems in a loosely coupled fashion ensuring scalability and high performance. Banks can choose to deploy the solution independently or in an integrated manner with Finacle channel solutions, such as Finacle online banking and Finacle mobile banking. They can also take the progressive approach of deploying the solution with one channel application first, and gradually extending it to the others. Where is Omnichannel hub needed? As banks strategize across their system of records, engagement and experience, it becomes an imperative to have a mature system of engagement which can stand the test of changing trends to support their long term strategy and growth plans. This is where the Omnichannel Hub from Finacle plays a key role. Online Banking Mobile Banking Digital Wallets Branch Solution Systems of experience System of engagement Systems of records Digital Experiences Digital Engagement Digital Business Engines Point apps like SME Enable, Youth Banking, Mobile Teller Core Treasury Liquidity Management Open APIs for engagement-customer, Fintech & 3rd party developer Omnichannel Hub Payments Trade Finance CRM Wealth Management Embedded analytics & AI 3 External Document 2017 EdgeVerve Systems Limited
Functional Architecture Assisted Channels Unassisted Channels Channel Administration Customer Entitlement Transaction Administration Channel Context Manager Channel Maintenance Retail Entitlement End User Functionality Retail Activity Inquiry Segment Maintenance Corporate Entitlement Assisted User Functionality Corporate Activity Inquiry Monitoring Auditing Infrastructure Modules Reporting Infrastructure Scheduling Alerting Omnichannel Hub Finacle Integration Platform Deposits Payments CRM Loans Wealth Management Key Modules Channel administration This unified digital engagement solution empowers banks to centralize channel rules and business processes in assisted as well as selfserve channels. It enables banks to configure customer segment specific rules such as amount based limits, authorization setup, among others. These rules are applied across channel applications to ensure a tailored experience to various customer segments across channels. In addition, the channel administration module captures rules associated with various banking channels - such as authentication modes and financial and non-financial services allowed. This ensures unified and optimum control across channel applications. Customer preferences and entitlements This module acts as a centralized repository for maintaining customer-specific entitlements and preferences. It enables the personalization of channel experiences by customers themselves as well as by their relationship managers. Customers can define their preferences for financial and non-financial services such as transaction limits, authentication preferences, currency preferences, which can be uniformly or selectively applied across various channels. 4 External Document 2017 EdgeVerve Systems Limited
Channel context manager Channel context manager enables a seamless cross channel experience for customers. This module maintains a context of transactions in the form of snapshots, which can be inquired by customers or bank users. It enables seamless channel hopping by providing users the flexibility to resume saved transactions from a different channel. This module percolates information and actions emerging from crosschannel transactions to appropriate channel applications. Transaction administration This module acts as a central engine for maintenance of various transaction rules. Leveraging this, banks can define rules for various types of financial and non-financial transactions such as bill payments and trade administration. The transaction administration module helps banks understand and analyze customer preferences and usage patterns across channels. It enables them to track key performance indicators (KPIs) to measure the success of various channels in advancing customer acquisition, retention and right-sell goals. Business Benefits Superior customer experience The Finacle Omnichannel Hub amplifies customer experience by delivering consistent and seamless experience across channels. The solution captures the context of ongoing transactions to ensure that customers can move across interaction channels seamlessly without having to repeat information that they have already provided in another channel. As transactions and data are updated in real time, customers have access to latest information irrespective of the channel used, making banking convenient, consistent and truly delightful. Business agility The solution orchestrates interactions between various channels and back office solutions to accelerate introduction of new products and services across channels. Banks can roll out new channels swiftly and manage them centrally by using this unified digital engagement solution. Manage costs The solution facilitates reuse through a centralized channel management platform, to eliminate duplicated effort for launching similar capabilities across channel applications. The unification of various customer touch points helps banks better understand customer behavior across segments, as well as their product/channel preferences and price sensitivity. This enables them to optimize channel usage and migrate low cost transactions to low cost channels. Banks can thus deploy high value branch staff in specialized functions thereby reducing customer service costs. Higher success in selling and servicing By enabling deeper understanding of channel preferences by customers, the solution enables banks to deploy marketing campaigns through appropriate channels to increase success rates. This essentially empowers banks to execute strategies to bring right product to the right customers through the right channel. 5 External Document 2017 EdgeVerve Systems Limited
Industry Recognitions Finacle Omnichannel Hub has been recognized as a leader by multiple Industry analysts as a Leader as well as by multiple industry associations with awards across the spectrum of digital banking. Leader with broad business capabilities, rich support for customer experience and an advanced support for customer touch points across channels The Forrester Wave : Digital Banking Engagement Platforms, Q3 2017 The Forrester Wave is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave are trademarks of Forrester Research, Inc. The Forrester Wave is a graphical representation of Forrester s call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change. Ovum Decision Matrix: Selecting a Digital Banking Platform, 2017 18 EdgeVerve Systems is a market leader. Finacle Omnichannel Hub provides a solid digital banking platform solution that caters to the needs of the digital economy and enables banks to deliver next-generation services on digital channels. Ovum recommends that banks shortlist the solution when considering their choice of digital banking platform. - Noora Haapajärvi, Analyst, Ovum Best System Solution - Juniper FUTURE DIGITAL AWARDS Finacle Omnichannel Hub offers comprehensive digital banking capabilities across channels enabling unique personalization capabilities for customers. XCelent award in Digital Banking Infosys Finacle conferred with XCelent award for Advanced Technology and Breadth of Functionality among 10 global vendors assessed by Celent in the Digital banking space 6 External Document 2017 EdgeVerve Systems Limited
Customer Success A few marquee success stories of customers who have leverages Finacle Omnichannel Hub in their growth Journey include: RAKBANK RAKBANK- one of the UAE s most dynamic financial institutions Current user base of more than 210,000 Chose Finacle in line with its strategy to take advantage of opportunities in Corporate and Retail banking with Online banking, Omnichannel Hub, Mobile Banking and Finanz Tools RBL Bank RBL Bank One of the fastest growing bank with over 3.54 million customers, 246 branches Leverages Finacle Core, Omnichannel Hub and APIs to power its growth One of the leading bank in world to power open APIs led growth Standard Bank Standard Bank Group is the largest African bank by assets of over USD 165 billion Leverages Finacle Core, Omnichannel hub and channel solutions to power its growth Operates in 20 countries on the African continent 7 External Document 2017 EdgeVerve Systems Limited
Serving nearly 16.5% of the world adult population. BY THE NUMBERS >1 billion consumers >100 countries >1.3 billion accounts About Infosys Finacle Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts. Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others. For more information, contact finacle@edgeverve.com www.finacle.com 2018 EdgeVerve Systems Limited, a wholly owned subsidiary of Infosys, Bangalore, India. All Rights Reserved. This documentation is the sole property of EdgeVerve Systems Limited ( EdgeVerve ). EdgeVerve believes the information in this document or page is accurate as of its publication date; such information is subject to change without notice. EdgeVerve acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. This document is not for general distribution and is meant for use solely by the person or entity that it has been specifically issued to and can be used for the sole purpose it is intended to be used for as communicated by EdgeVerve in writing. Except as expressly permitted by EdgeVerve in writing, neither this documentation nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior written permission of EdgeVerve and/ or any named intellectual property rights holders under this document.