Build New Propositions In Digital Cash Management
Finacle Virtual Accounts Management is designed to digitally transform cash management services of corporate banks worldwide. The solution with its broad range of account virtualization capabilities and a digital self-serve model, enable banks empower their business customers manage their global, multi-bank cash and liquidity positions with enhanced levels of visibility and controls.
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Drive new possibilities with virtual accounts.
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The Finacle Promise
Future-proof your cash management strategies with a comprehensive solution
Finacle Virtual Accounts Management provides banks with robust capabilities to create and offer state-of-the-art virtual account products, empowering them to revolutionize their cash management processes, attract new clients, and sustain their competitive edge in the dynamic banking sector.
Product set up
Account opening
Account maintenance
Real-time transaction posting
Account closure
Account reopening
Transaction replications
Interest computation
Hierarchy definition
Statement generation
Charges definition
Reports
Advanced Architecture
Finacle Virtual Accounts Management Solution is built on an advanced architecture and enables banks to transform cash management business with agility and flexibility.
Cloud native
Event-centric architecture:
Workflow management:
Data and insights-enabled:
Declarative and RESTful APIs:
Scalability, performance and resilience:
Enterprise class capabilities:
Built on real-time foundations:
Technology platform choice:
Infosys Finacle positioned as a Leader in The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022
“EdgeVerve (Finacle) brings APIs, integration, and application ecosystems to corporate banking. The strategy is strong on future plans for enhancing existing cloud-based offerings. The DBPP has differentiating business banking features such as preintegration of small business solutions for accounting and analytics via upSWOT. The DBPP offers strong integration capabilities including event streaming and has integrated with multiple third-party digital front-end solutions in the 12 months prior to this evaluation. Reference customers report a high degree of satisfaction with the vendor’s delivery and support, available APIs, out-of-the-box security functions, and willingness to deliver in DevOps environments. EdgeVerve (Finacle) is a good shortlist candidate for banks that look for a well-designed modern architecture and that want to collaborate with a vendor using agile approaches.”
– Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022
Simplified Transformation
Experience agile, risk-mitigated modernization
Whether it is a big bang switchover, progressive deployment, or complete overhaul, Finacle helps your bank transform at its own pace by simplifying transformation and minimizing risks.
Reference bank
Global best practices + innovations + localized solution
Extensibility with parameterization for segment-specific innovations
Interface adapters for payments systems, third party agencies
Phased transformation
Progressive modernization
A phase-wise approach
Business priority mapping and value realization
Agile delivery
SAFe Agile Practice
CI-CD, end to end release automation
Progressive launches
Drive agility and deliver enhanced propositions in virtual account management
Power innovation and growth with unparalleled flexibility
With this solution, you can effortlessly establish and operate virtual accounts, enhancing the agility of your cash management operations.
- Comprehensive rule definition module for powerful rules on currencies, limits, transaction reflection, and more
- Product-centric approach empowering configuration of common parameters such as interest rates, fees, exchange rates, taxes, and other charges
- Set up parameters and rules for multiple virtual accounts flexibly
- Seamlessly visualize hierarchy of virtual accounts with included feature
- Robust processing engine for direct transactions and replication based on references
- Potent reconciliation module for manual or automated handling of exceptions
Rule definition
- Currency, Amounts
- Transaction reflection
Product setup
- Common parameters
- Interest setup
Account creation
- Automated account creation
- Percolation of parameters / rules
- Additional rules
Account hierarchy setup
- Visual represent. of Virtual accounts hierarchy
Additionally, you can enhance cash management services for digitally empowered corporate and SME clients, fostering flexibility to fuel innovation and expansion.
- Facilitate seamless integration with current enterprise systems through industry-standard integration adaptors.
- Empower corporate clients with digital self-service capabilities for managing virtual accounts through digital channel engagements.
- Offer a wide range of APIs that allow banks to empower corporate clients to optimize treasury operations throughout the corporate accounting lifecycle.
The Scenarios e-Book:
Unlock True Power of Virtual Accounts
Embrace 7 key industry use cases to leap forward
- Progressive financial institutions are investing in scaling their virtual accounts offerings to provide businesses with efficient payables and receivables management, improved cashflow control, and increased customer value and loyalty.
- Discover the power of virtual accounts in driving efficient payables and receivables management, and gain enhanced control over cashflows. Download the e-book to explore seven key use cases that are gaining significant traction.
- Unlock the potential of virtual accounts to optimize your business’s payables and receivables management while gaining a competitive edge. Download the e-book now to delve into seven compelling use cases that are revolutionizing the industry.
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