Upload
infosys
View
219
Download
0
Embed Size (px)
Citation preview
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 1/12
ACCELERATE INNOVATION.
Power growth through digital money.
Finacle Digital Commerce Solution
www.infosys.com/ nacle
Universal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 2/1202 Finacle
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 3/12
Digital moneyfor tomorrow’scustomers
T he banking and commerce world today is being driven bypaper 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 andthe Internet. As a case in point, in 2011, the global penetrationof mobile phones was 73%, while that of bank accounts wasonly 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 isa digital solution that brings together multiple transaction
instruments, accessible anytime anywhere on the consumer ’s
preferred channel. The solution should also enable theseproviders to reach consumers in remote areas cost effectively.
Finacle 03
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 4/12
Finacle digital commerce
Finacle digital commerce solution leverages the
power of digital money to unlock new revenue
streams, extend distribution reach and foster
customer loyalty for financial institutions, telecom
service providers and retailers. The solution powers
revenue growth by enabling service providers to
facilitate payments and money transfer facilities
such as funds transfer, bill and merchant payments,
peer to peer (P2P) payments including cash-in and
cash-out facility through remote and contactless
(NFC driven) modes. Its ability to onboard and
manage agents using digital channels provides a
cost effective way to reach out to remote customer
segments. Additionally, it fosters customer loyalty
by delivering cashless convenience to consumers
through digital wallets supported across multiple
channels such as mobile, Internet, ATM, and kiosk.
Powering growth and reach through digital money
Deliver 24x7 services on thecustomer ’s preferred channel
Consumers of tomorrow prefer to access services
on multiple channels, be it the Internet at home or
office, the ATM or kiosk at a mall or a mobile device
on-the-go. Finacle empowers your institution
to roll out payment and money transfer services
simultaneously on both assisted and self-service
channels, serving the needs of customers on their
channel of preference.
Scale up with flexibility
Built on a flexible platform, the solution utilizes
Service-Oriented Architecture (SOA) to ensure
scalability while meeting your growth objectives
within time-to-market constraints. A robust host
integration layer ensures easy integration withdiverse host systems.
Reach and empower customerswith instant convenience
The digital channel also reaches where the traditional
brick and mortar delivery channel cannot. This paves
the way to acquire and engage customers, deliver to
them commerce and banking services and expand
your user base.
Get ubiquitous access
The solution supports multiple:
• Devices such as basic phone, smartphone,
tablets laptop/desktop, ATM and HHT
• Platforms including J2ME, Google’s Android,
Apple’s iOS, RIM Blackberry and Microsoft
Windows
• Access modes such as SMS, USSD, STK, IVR,
downloadable application, mobile browser andInternet browser
04 Finacle
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 5/12
Functional architecture
Devices
Finacle
Surround
Solutions
Finanz
Tools
Alerts
Analyz
Advizor
Basic Phone Smartphone Tablet Desktop/Laptop HHT ATM
Platforms
Access Modes
SMS USSD STK IVR App Mobile Browser Web Browser
mConnect UI Rendering Engine
Services Layer
Onboarding Payments Money Transfer Marketing VAS Alerts
Assisted and Bill Payment Funds Transfer Loyalty Points Ticketing Multi-Channel
Self Merchant Peer to Peer Rewards Prepaid Top-Up Personalized Alerts
Enrollment Payment Including Cash-in Right Sell
and Cash-out
Wallet Agency Merchant Fees and Transaction GeneralManagement Management Management Commissions Management Ledger
Host Integration Layer
Multi Hosts
Banks Telco Retailer
Alliances
Payment Networks
Utility and Billers
Water Electricity
VAS Aggregator
Security
Finacle 05
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 6/12
Key modules
Customer on-boarding
Finacle digital commerce solution enables
customers to be on-boarded via both self-service
and assisted modes through single or bulk
registration whilst adhering to KYC, de-duplication
and blacklist checks.
Funding and withdrawal
Finacle digital commerce supports diverse and
flexible funding and withdrawal options for digitalwallet such as:
• Cash deposit and withdrawal at an agent
location
• Linking any of the existing bank accounts, credit
or debit card
• Cash withdrawal at ATM
Payments and money transfers
The solution supports a wide variety of payment
options in both remote and contactless modes
(NFC, QR code, RFID) such as:
• Balance inquiry and mini-statement
• Funds transfer
• Bill presentment and payment
• Utility payments
• Merchant payments for merchant initiated or
customer initiated payments
•
Personal financial management
• Peer to Peer (P2P) payments including cash-in
and cash-out facilities within closed and open
loop
• Value added services such as movie/theater
ticket, bus/airline ticket, prepaid top-up, charity
donation
• Right sell including loyalty points, rewards and
redemptions
• Personalized alerts
Wallet management
Enables end-to-end wallet management for both
prepaid and postpaid wallets such as:
• Provisioning of different wallet types:
∙ Consumer or corporate wallet
∙ Closed loop wallets
∙ Add-on wallets
∙ Sub-wallets
∙ Wallets for specific purposes such as gift
cards, loyalty points and white labeled
wallets
• Setting up of limits including balance and
transactions limits
Agency management
The solution enables financial institutions, telecom
providers and retailers to roll out digital wallet
services through an agency by:
•
Defining agencies and agent hierarchy
06 Finacle
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 7/12
• Enabling limits, including cash holding limits
and transaction limits
• Provisioning administrative functions such as
enabling/disabling agents
Merchant management
Enables support for different types of merchants
including:
• Onboarding of physical merchants such Over
The Counter (OTC) and modern merchants i.e.
large supermarket chains as well as remote
merchants such as utility companies and billers
• Complete support for payment processing,
settlement, reconciliations and reversals
Fees and commission management
Fee, charges, commission and taxes can be defined on
per-transaction basis for issuers, billers, payment
gateways and customers. Features include:
• Slab definition based on the transaction
category and amount
• Maintenance of chart of accounts for P&L
reporting, based on charges, commission and
taxes
Transaction management
A comprehensive double entry accounting system
with facilities to define transaction rules applicable
for each transaction lies at the heart of the solution.
It supports:
• Rule definition to identify the part-trans
applicable for the transaction
• Reconciliation and balance sheet reporting
including rich repository of MIS reports
General Ledger (GL)
The accounts module in Finacle digital commerce
solution enables definition and maintenance
of a chart of accounts required for posting the
transactions. It also has a comprehensive reportingfacility to generate inputs required for GL system
interface, along with a reconciliation module for
maintenance of transactions.
Reporting
Reporting is achieved using the Jasper reporting
tool that enables:
• Report creation using simple GUI-based tools
and an administrator interface
• Generation of periodic reports delivered
through e-mail
• Ad-hoc reporting through Web-based
applications
Administration
The solution’s administrative module enables
the issuer to effectively service and monitor
transactions conducted by customers. It provides,
among other facilities:
Finacle 07
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 8/12
• Support for customer on-boarding data entry,
approvals of customer, merchants and agents,
updating actor status
• Post transactions (such as reversals, bonus
payouts and other stand-alone financial service
provider initiated transactions)
• Monitor entry level and periodic transaction
limits for various customer categories and
transaction types
• Subscription to periodic reports, views into
customer transaction details, audit trail enquiries
and limit enquiries are also supported
Host integration layer
The solution can interface with any existing back-
end host system using a robust host integration
layer which enables Finacle digital commerce to
work seamlessly with Finacle or non-Finacle back-
end systems.
Security
Finacle digital commerce has a layered security
approach which makes the experience safe and
secure.
• Transmission security is enforced through
mutual authentication and SSL
• Application level challenges are addressed by
One Time Password (OTP), restricted access,
step-up authentication, non-repudiation,
replay attacks , limits framework and session
management
• Data level security is achieved through the
industry standard AES encryption
• Two step approval for defined administrative
activities
08 Finacle
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 9/12
Business benefits
Enhance customer loyalty
The ability to access multiple payment instruments
using digital wallets enabled on cashless, electronic
channels brings about transactional flexibility
and convenience. Digital wallets created using
the Finacle digital commerce solution eliminate
the need for multiple instruments and ensure
faster payments/checkout at POS locations. The
convenience delivered by wallets linked to financial
instruments ensures greater customer satisfaction
and loyalty.
Unlock new revenue streams
Finacle enables financial institutions and telecom
providers to deliver cashless commerce and value
added services that open up new revenue streams.
Retailers, on the other hand, can deploy the solution
to deliver services on alternate channels, and
deliver coupons, right-sell offers and discounts to
their consumers. augmenting revenue and repeat
purchases. The solution allows service providers to
build, deploy and launch offerings within shorter
times-to-market.
Extend the delivery channel cost
effectively
With the agency services module in Finacle digital
commerce, financial institutions can onboard and
manage non-banking correspondents and agents.
Telcos can achieve greater market penetration and
expand their distribution network by enabling
agency-based commerce. For retailers, the digital
channel is an extended channel that enables
instant monetization, higher conversion ratios and
a single instrument of convenience. The resulting
extended channel cost effectively serves customers
from the urban to under-banked.
Finacle 09
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 10/12
Finacle helps build tomorrow’s bank
Finacle from Infosys partners with banks, the world over, to accelerateinnovation 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.
1 0 Finacle
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 11/12Finacle 11
7/30/2019 Digital Commerce Solution
http://slidepdf.com/reader/full/digital-commerce-solution 12/12
About Finacle
Finacle from Infosys partners with banks to transform process, product andcustomer experience, arming them with ‘accelerated innovation’ that is
key to building tomorrow’s bank.
For more information, contact [email protected] www.infosys.com/ nacle
© 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.