Innovative platform enhances self-service channels to provide personalized, real-time and on-demand interface for bank customers
Bangalore, London, New York, December 15, 2009: Infosys Technologies Ltd. announced the launch of Finacle Advizor™, an integrated platform which empowers banks to deliver products and services through a fully assisted self-service channel using existing Internet banking capabilities.
The patent pending solution provides banking customers a self-service channel, like the Internet, kiosk and ATM, for real-time access to their bank relationship, such as account inquiries, fund transfers, credit card and mutual fund payments and remittances. In addition, Finacle Advizor™ enables bank customers using the self-service channel to experience the comfort of interacting with a bank representative who can help with transaction assistance and remote advisory functions. This not only enhances the customer experience but also increases the efficiency of the bank staff, improving the return on investment for the bank from the channel.
According to Haragopal Mangipudi, Global Head – Finacle, Infosys Technologies, “Finacle Advizor™ provides banks a channel to offer high-touch, personalized and interactive services to customers. It significantly increases operational efficiency at a fraction of the total cost of ownership. The solution can even help banks reach unbanked and remote populations by enabling human interactions through self-service kiosks.”
Worldwide, banks have been looking for the middle path between the low cost self-service channel and high-touch service capabilities at the branch. While self-service channels allow banks to expand service and geography footprint economically, they lack the assurance of human interaction and personalized services, greatly limiting the customer experience. Further, there is very limited scope of capturing a customer’s banking preferences which leads to lost right-selling opportunities. On the other hand, the branch provides the best potential to build relationships, understand the customer and develop future business but it involves high capital expenditure, limited geographical reach, and high cost of customer acquisition and service. Banks are constantly driven to reduce costs of operation and transactions without diluting the customer experience.
Using IP convergence and Web 2.0 principles, Finacle Advizor™ integrates the self-service channel with the comfort of human intervention through video, audio and data communication and co-browsing, virtually recreating the service experience of a branch and also bringing in Triple play and collaboration capabilities of Web 2.0 to banking. The solution leverages the latest developments in Unified Communications technologies and enables banks to offer sophisticated, human interaction based transactions through otherwise basic self-service channels. Finacle Advizor™ is available on the Microsoft platform.
As a leader in banking transformation, Finacle™ has a global footprint across 64 countries and has been acknowledged among the leaders in the core banking solution space by top analysts including Gartner and Forrester. Finacle™ is also the winner of a series of awards for its innovation and implementation capabilities, the most notable ones being The Banker Technology Award, The Asian Banker IT Implementation Award and The Banking Technology Judge’s Special Award for “Innovative Use of IT”.
About Finacle™ Universal Banking Solution
Finacle from Infosys partners with banks to power-up their innovation agenda, enabling them to differentiate their products and service, enhance customer experience and achieve greater operational efficiency. This proven and effective framework for multi-disciplinary change, enables banks to shift their strategic and operational priorities.
Finacle solutions address the core banking, e-banking, Islamic banking, treasury, wealth management and CRM requirements of retail, corporate and universal banks worldwide.
Several powerful and differentiating features make Finacle one of the most comprehensive, flexible and scalable universal banking solution in its class. These solutions when associated with Finacle services empower banks to maximize their opportunities for growth, while minimizing the risks that come with large-scale business transformation. For more information, visit www.edgeverve.com/finacle
About Infosys Technologies Ltd
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 104,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit www.infosys.com.
Infosys Technologies Ltd – Safe Harbor
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31 2009 and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
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