Finacle Digital Commerce

Finacle Digital Commerce Solution

ACCELERATE INNOVATION.Power growth through digital money.

www.infosys.com/�nacleUniversal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing

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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.

Digital money for tomorrow’s customers

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Finacle digital commerceFinacle 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 moneyDeliver 24x7 services on the customer’s preferred channelConsumers 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 flexibilityBuilt 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 with diverse host systems.

Reach and empower customers with instant convenienceThe 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 and Internet browser


Functional architecture

Basic Phone

Finacle Surround Solutions

FinanzTools

Alerts

Analyz

Advizor

SMS

Wallet Management

Agency Management

Merchant Management

Fees andCommissions

Transaction Management

General Ledger

STK AppIVR Mobile Browser Web Browser

Banks Telco Retailer

Smartphone Tablet

Devices

Desktop/Laptop

Payment Networks

Platforms Alliances

HHT ATM

Access Modes

Multi Hosts

Onboarding Assisted and Self Enrollment

Services Layer

mConnect UI Rendering Engine

Host Integration Layer

Bill PaymentMerchant Payment

PaymentsFunds TransferPeer to Peer Including Cash-in and Cash-out

Money Transfer VASTicketingPrepaid Top-Up

AlertsMulti-Channel Personalized Alerts

MarketingLoyalty PointsRewardsRight Sell

Utility and Billers

VAS Aggregator

Security

Water Electricity

USSD


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 digital wallet 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 managementEnables 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 managementThe solution enables financial institutions, telecom providers and retailers to roll out digital wallet services through an agency by:

• Defining agencies and agent hierarchy

Key modules


• Enabling limits, including cash holding limits and transaction limits

• Provisioning administrative functions such as enabling/disabling agents

Merchant managementEnables 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 managementFee, 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 managementA 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 reporting facility to generate inputs required for GL system interface, along with a reconciliation module for maintenance of transactions.

ReportingReporting 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

AdministrationThe solution’s administrative module enables the issuer to effectively service and monitor transactions conducted by customers. It provides, among other facilities:


• 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 layerThe 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


Business benefitsEnhance customer loyaltyThe 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 streamsFinacle 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 effectivelyWith 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 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.

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Finacle from Infosys partners with banks to transform process, product and customer experience, arming them with ‘accelerated innovation’ that is key to building tomorrow’s bank.

About 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. Infosys acknowledges the proprietary rights of the trademarks and product names of other companies mentioned in this document.

For more information, contact �[email protected] www.infosys.com/�nacle

Finacle Digital Commerce

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