Page 69 - DMGT303_BANKING_AND_INSURANCE

Banking and Insurance

Notes outages of the central data center of the bank or during disruptions in branch network
connectivity.
Leveraging Straight-Through-Processing (STP)

Finacle provided an interoperable and open architecture that ensured tight integration
with all delivery channels using standard message protocols. The powerful STP feature
ensured that several transactions were completed end-to-end, without manual intervention.
Turnaround times have drastically reduced for issuing cheque books and account statements,
thereby enhancing productivity and customer satisfaction.
Unique extensibility features
Finacle’s unique Extensibility tool kit comprising Scripting Engine, Workflow, and Remote
Application Interface (RAI) provided the much needed flexibility to ABN AMRO Bank,
enabling it to easily and rapidly add new business rules, launch new products, and modify
processes. Using this tool kit, ABN AMRO developed a loyalty reward program for its
customers wherein, the bank offered incentives like charge free demand drafts based on
certain business rules like maintaining specified minimum balances. Such programs have
helped the bank reap the twin benefits of customer retention and an increase in low cost
funds. Some of the modules that have been quickly rolled out by ABN AMRO are:
Direct Sales Agent (DSA) Module: To track the performance of Direct Sales Agents
(DSA’s) of the bank and have customized commission computation logic for the
DSA’s based on predefined parameters like product type, geography and hierarchy.
Complaint and Request Tracking System (CARTS): To track customer request and
complaints without manual intervention and assign priority, based on customer
profile and severity of request, by seeking reference from the Finacle core banking
database.
Card Management System (CMS): This is a repository of customer card information
and acts as a focal point in various events relating to cards, like issue, reissue and
maintenance. An additional feature of this module is the ability to communicate on
an on-line basis for activities like ‘hot carding’ a card, activation/deactivation of
cards, etc.
Reaping the Benefits
For ABN AMRO Bank, the choice of an enterprise banking platform hinged on factors like
flexibility translating into ease of customisation, availability of an integration infrastructure
with multiple delivery channels and reduced TCO. Finacle has delivered on all of these
points along with giving crucial time-to-market advantage and business agility to the
bank, thus helping script a retail banking success story.

3.11 Summary

Bankers today have no choice except to alter their product mix, delivery channels and
corporate structure to serve their functional role.
There has been a great heat of competition in selling ideas, products and services under
this segment between one bank to the other.

Retail lending, a departure from conventional advance, offers higher yield, quicker turn,
the possibility of less incidence of the account going bad or non performing if it is
monitored on an ongoing basis.

There has been a great heat of competition in selling ideas, products and services under
this segment between one bank to the other.

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