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HCL Infosystems in Financial inclusion


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HCL Infosystems Takes IT Enabled Banking to
Rural India And Low-Income Groups

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HCL Infosystems in Financial inclusion

  1. 1. BFSI The client is one of the largest nationalized banks in India with an international presence in over 25 countries. They offer banking and financial services to the business, corporate and retail customers through a variety of delivery channels, and through its specialized subsidiaries and affiliates in the areas of investment banking, credit cards and asset management. They have a wide reach across the countrywithover3000branchesinurban,semi-urbanandruralIndia. Client Brief HCL Infosystems Takes IT Enabled Banking to Rural India And Low-Income Groups
  2. 2. ClientRequirements The Bank, under the initiatives taken for Financial Inclusion (FI), was looking for a cost-effective technology solution to be implemented in rural areas and amongst lowincomegroups. For this,theywanted to partnerwithanITvendorwhocouldprovide a secured smartcard based solution that could be easily integrated with the bank's existing core banking systems and also had provision to support cash deposits / withdrawal, loan, funds transfer, mini statements, balance enquiries and other third party products such as insurance and pensionbranchtothebank'snetwork. SolutionsOffered To approach this challenge and help the client in the journey of 'Inclusive Growth' and 'Financial Inclusion', HCL offered the following state-of-the-art and technology- drivensolutionstotheclient- BusinessCorrespondents-HCLengaged and managed business correspondents (BC) deployed in the villages. HCL set up a complete ecosystem for the BCs to ensure that they were properly trained and equipped to facilitate banking and financial services to the local people without the need for them to travel to a distant branch. These BCs who acted on behalf of the Bank also offered services like loans, insurance, pension and other third-party products to the smartcard holders at their doorstep and as per the cardholders'convenience. Handheld Terminals - HCL provided eachBCwithsupportingtechnologythat provided “financial services in a box” – a Ÿ Ÿ small point-of-sale terminal that included smart card read/write capability, biometric customer authentication,aprinter,andaspeaker. Ÿ Hardware and Software Maintenance and Support - To ensure intero- perability among the different systems, HCL offered the following support and services- Customization, installation, operation&maintenanceofservers DCandDRservices Network Administration Services- This included proving network connectivityandinterface Web-based online and offline upload facility with multiple connectivity options like Modem / GPRS/CDMA ProvidedSMS/GPRSInterface Highly scalable database & platform independent synchronization support between intermediate server with DC server support for POS transactions in online/off-line mode o o o o o o
  3. 3. Copyright @ HCL Infosystems Ltd. All Rights Reserved. Reproduction of this publication in any form without prior permission is prohibited. The names of the actual companies and products mentioned herein may be the trademarks of their respective owners. All content/information present here is the exclusive property of HCL Infosystems Ltd. The content/information contained here is believed to be accurate ate the time of publishing. HCL shall not be liable for damage of any kind use of this information, which is subjecttochangewithoutnotice. Ÿ Highly parameterized POS based transaction support for account / transaction upload into main server BC/POSoperationmanagement Business&SocietalBenefits The HCL Infosystems technological solutions played a key role in making 'Financial Inclusion' a reality for the Bank by offeringfollowingbenefits- More than 841 villages covered in the Financial Inclusion drive by the bank in nearly5months Ÿ Ÿ Ÿ Ÿ About 2 lakh new bank accounts openedinlessthanfivemonths Operational cost of running the branches was significantly reduced by 70% vis-a-visbrick-and-mortarmodel Unlocking of growth potential for the weaker sections and low-income groups by enabling the bank to roll out variousgovernmentschemes About HCL Infosystems HCLInfosystemsLtd.withrevenue(LTM)ofUS$2.0billion(Rs10,401crores)isIndia'sPremierTechnologyCompanyandoffers a wide spectrum of IT Services and Products ranging from Cloud to Learning Solutions. As a complete IT solutions provider the company offers comprehensive offerings in Enterprise Application Services, IT Infrastructure Managed Services, System Integration, Office Automation Products and Services, Distribution and Support Services. The company operates in both the Consumer and the Enterprise space – offering the latest mobility products and operating in verticals like BFSI, Telecom, and Healthcarerespectively. HCL Care, the support and service division of the company has one of the largest and most extensive service networks across the country and provides end to end support services for various IT, Telecom and Consumer Electronics products.HCL Infosystems has one of the largest distribution network of digital lifestyle global brands and an unparalleled robust service network in the country including Tier 2 and 3 cities. Digilife Distribution and Marketing Services (DDMS), a 100% subsidiary of HCL Infosystems focuses on multi brand distribution and offers value added distribution for its partners including strategic consulting services, last mile connect and support in marketing and promotions. HCL Learning a division of the company covers the entire spectrum of education and training requirements across schools, colleges, individuals and enterprises and offers rich learning solutions across these segments. HCL Infosystems MEA (Middle East and Africa), a fully owned subsidiary of HCL Infosystems is part of the emerging markets outreach of the company and focuses on expanding the business in the Middle East and African geographies and provides comprehensive IT solutions to customers across verticals in the region. The company also has robust operations in Singapore with its subsidiary HCL Insys Pte. Ltd. gaining traction in the region with its EnterprisesolutionsincludingastrongofferinginInfrastructureManagedServices For more details, please contact us at www.hclinfosystems.comor visit us at