Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys announced the launch of its Finacle Payments Bank and Finacle Small Finance Bank solutions for the India market.These solutions are specifically tailored for organizations seeking payments banks and small finance banks licenses from the Reserve Bank of India (RBI). With these solutions, licensees can set up the required technology backbone and become operational quickly.
Both solutions offer pre-configured set of products and business rules to aid quick deployment, enabling the new entrants to focus on their business goals right from the start of their operations.The offerings provide distinct capabilities to enable various distribution models such as traditional banking, agency banking, mobile wallet, and micro ATMs, among others, thereby helping the banks to reach out to relevant customer segments.
These solutions are also available in a hosted environment, which ensures low capital investments. Additionally, it will enable new license holders to make investments based on consumption and scale-up depending on business demand. Through integrated analytics, the solutions will offer superior customer insights to help create customized offerings and address emerging market needs.
Venkatrama Gosavi, Regional Head for Growth Markets, Infosys Finacle says,“Robust technology infrastructure is vital to the creation of a cost-efficient, nimble, and a competitive banking model. With Finacle, the new license holders are assured of a proven platform to help them accelerate innovation and achieve rapid growth. Our state-of-the-art solutions will be a game-changer for banking aspirants to create businesses that are sustainable, profitable and compliant with required regulatory obligations.”