Finacle Digital Commerce

ACCELERATE INNOVATION. Power growth through digital money.Finacle Digital Commerce Solutionwww.infosys.com/finacleUniversal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing

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Digital moneyfor tomorrow’scustomers T he banking and commerce world today is being driven by paper and plastic-based transaction instruments such as cash, debit/credit cards and checks. The average consumer’s wallet contains at least five different transaction instruments, often incompatible with the other. What has also been seen is the growing penetration of digital channels such as mobile and the Internet. As a case in point, in 2011, the global penetration of mobile phones was 73%, while that of bank accounts was only 32%. Given the ubiquity and reach of digital channels, it seems logical for banking and commerce providers to use these channels to reach more customers and grow revenues. The question is how? What financial services, telecom and retail sectors need is a digital solution that brings together multiple transaction instruments, accessible anytime anywhere on the consumer’s preferred channel. The solution should also enable these providers to reach consumers in remote areas cost effectively. Finacle 03

Finacle digital commerce Finacle digital commerce solution leverages the cash-out facility through remote and contactless power of digital money to unlock new revenue (NFC driven) modes. Its ability to onboard and streams, extend distribution reach and foster manage agents using digital channels provides a customer loyalty for financial institutions, telecom cost effective way to reach out to remote customer service providers and retailers. The solution powers segments. Additionally, it fosters customer loyalty revenue growth by enabling service providers to by delivering cashless convenience to consumers facilitate payments and money transfer facilities through digital wallets supported across multiple such as funds transfer, bill and merchant payments, channels such as mobile, Internet, ATM, and kiosk. peer to peer (P2P) payments including cash-in and Powering growth and reach through digital money Deliver 24x7 services on the Reach and empower customers customer’s preferred channel with instant convenience Consumers of tomorrow prefer to access services The digital channel also reaches where the traditional on multiple channels, be it the Internet at home or brick and mortar delivery channel cannot. This paves office, the ATM or kiosk at a mall or a mobile device the way to acquire and engage customers, deliver to on-the-go. Finacle empowers your institution them commerce and banking services and expand to roll out payment and money transfer services your user base. simultaneously on both assisted and self-service channels, serving the needs of customers on their Get ubiquitous access channel of preference. The solution supports multiple: • Devices such as basic phone, smartphone, Scale up with flexibility tablets laptop/desktop, ATM and HHT Built on a flexible platform, the solution utilizes • Platforms including J2ME, Google’s Android, Service-Oriented Architecture (SOA) to ensure Apple’s iOS, RIM Blackberry and Microsoft scalability while meeting your growth objectives Windows within time-to-market constraints. A robust host • Access modes such as SMS, USSD, STK, IVR, integration layer ensures easy integration with downloadable application, mobile browser and diverse host systems. Internet browser04 Finacle

Functional architecture Devices Basic Phone Smartphone Tablet Desktop/Laptop HHT ATM Platforms Alliances FinacleSurroundSolutions Payment Networks Access Modes Finanz Tools Utility and Billers SMS USSD STK IVR App Mobile Browser Web Browser mConnect UI Rendering Engine Alerts Water Electricity Services Layer Onboarding Payments Money Transfer Marketing VAS Alerts VAS Aggregator Assisted and Bill Payment Funds Transfer Loyalty Points Ticketing Multi-Channel Self Merchant Peer to Peer Rewards Prepaid Top-Up Personalized Alerts Analyz Enrollment Payment Including Cash-in Right Sell and Cash-out Security Wallet Agency Merchant Fees and Transaction GeneralAdvizor Management Management Management Commissions Management Ledger Host Integration Layer Multi Hosts Banks Telco Retailer Finacle 05

Key modules Customer on-boarding • Peer to Peer (P2P) payments including cash-in and cash-out facilities within closed and open Finacle digital commerce solution enables loop customers to be on-boarded via both self-service and assisted modes through single or bulk • Value added services such as movie/theater ticket, bus/airline ticket, prepaid top-up, charity registration whilst adhering to KYC, de-duplication donation and blacklist checks. • Right sell including loyalty points, rewards and redemptions Funding and withdrawal • Personalized alerts Finacle digital commerce supports diverse and flexible funding and withdrawal options for digital wallet such as: Wallet management • Cash deposit and withdrawal at an agent Enables end-to-end wallet management for both location prepaid and postpaid wallets such as: • Linking any of the existing bank accounts, credit • Provisioning of different wallet types: or debit card ∙ Consumer or corporate wallet • Cash withdrawal at ATM ∙ Closed loop wallets ∙ Add-on wallets Payments and money transfers ∙ Sub-wallets The solution supports a wide variety of payment ∙ Wallets for specific purposes such as gift options in both remote and contactless modes cards, loyalty points and white labeled (NFC, QR code, RFID) such as: wallets • Balance inquiry and mini-statement • Setting up of limits including balance and • Funds transfer transactions limits • Bill presentment and payment Agency management • Utility payments The solution enables financial institutions, telecom • Merchant payments for merchant initiated or providers and retailers to roll out digital wallet customer initiated payments services through an agency by: • Personal financial management • Defining agencies and agent hierarchy06 Finacle

• Enabling limits, including cash holding limits It supports: and transaction limits • Rule definition to identify the part-trans• Provisioning administrative functions such as applicable for the transaction enabling/disabling agents • Reconciliation and balance sheet reporting including rich repository of MIS reportsMerchant managementEnables support for different types of merchants General Ledger (GL)including: The accounts module in Finacle digital commerce solution enables definition and maintenance• Onboarding of physical merchants such Over of a chart of accounts required for posting the The Counter (OTC) and modern merchants i.e. transactions. It also has a comprehensive reporting large supermarket chains as well as remote facility to generate inputs required for GL system merchants such as utility companies and billers interface, along with a reconciliation module for• Complete support for payment processing, maintenance of transactions. settlement, reconciliations and reversals ReportingFees and commission management Reporting is achieved using the Jasper reportingFee, charges, commission and taxes can be defined tool that enables:on per-transaction basis for issuers, billers, payment • Report creation using simple GUI-based toolsgateways and customers. Features include: and an administrator interface• Slab definition based on the transaction • Generation of periodic reports delivered category and amount through e-mail• Maintenance of chart of accounts for P&L • Ad-hoc reporting through Web-based reporting, based on charges, commission and applications taxes AdministrationTransaction management The solution’s administrative module enablesA comprehensive double entry accounting system the issuer to effectively service and monitorwith facilities to define transaction rules applicable transactions conducted by customers. It provides,for each transaction lies at the heart of the solution. among other facilities: Finacle 07

• Support for customer on-boarding data entry, Security approvals of customer, merchants and agents, updating actor status Finacle digital commerce has a layered security approach which makes the experience safe and • Post transactions (such as reversals, bonus secure. payouts and other stand-alone financial service provider initiated transactions) • Transmission security is enforced through • Monitor entry level and periodic transaction mutual authentication and SSL limits for various customer categories and • Application level challenges are addressed by transaction types One Time Password (OTP), restricted access, • Subscription to periodic reports, views into step-up authentication, non-repudiation, customer transaction details, audit trail enquiries replay attacks , limits framework and session and limit enquiries are also supported management • Data level security is achieved through the Host integration layer industry standard AES encryption The solution can interface with any existing back- • Two step approval for defined administrative end host system using a robust host integration activities layer which enables Finacle digital commerce to work seamlessly with Finacle or non-Finacle back- end systems.08 Finacle

Business benefitsEnhance customer loyalty their consumers. augmenting revenue and repeat purchases. The solution allows service providers toThe ability to access multiple payment instruments build, deploy and launch offerings within shorterusing digital wallets enabled on cashless, electronic times-to-market.channels brings about transactional flexibilityand convenience. Digital wallets created usingthe Finacle digital commerce solution eliminate Extend the delivery channel costthe need for multiple instruments and ensure effectivelyfaster payments/checkout at POS locations. The With the agency services module in Finacle digitalconvenience delivered by wallets linked to financial commerce, financial institutions can onboard andinstruments ensures greater customer satisfaction manage non-banking correspondents and agents.and loyalty. Telcos can achieve greater market penetration and expand their distribution network by enablingUnlock new revenue streams agency-based commerce. For retailers, the digitalFinacle enables financial institutions and telecom channel is an extended channel that enablesproviders to deliver cashless commerce and value instant monetization, higher conversion ratios andadded services that open up new revenue streams. a single instrument of convenience. The resultingRetailers, on the other hand, can deploy the solution extended channel cost effectively serves customersto deliver services on alternate channels, and from the urban to under-banked.deliver coupons, right-sell offers and discounts to Finacle 09

Finacle helps build tomorrow’s bank Finacle from Infosys partners with banks, the world over, to accelerate innovation and unlock the value levers of their business. Leveraging digital money to power business growth and extend distribution reach has never been easier. Bring customers to tomorrow’s bank with Finacle digital commerce solution.10 Finacle

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About FinacleFinacle from Infosys partners with banks to transform process, productand customer experience, arming them with ‘accelerated innovation’that is key to building tomorrow’s bank.For more information, contact finacleweb@infosys.com www.infosys.com/finacle© 2012 Infosys Limited, Bangalore, India, Infosys believes the information in this publication is accurate as of its publication date; such information is subject to change without notice. Infosysacknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document.

Finacle Digital Commerce

by Infosys Finacle on Jun 07, 2012

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Finacle Digital Commerce Document Transcript