Infosys Finacle Wins Multiple Awards Along with their Clients at Retail Banker International Asia Trailblazer Awards 2022
The awards program celebrate the best-in-class retail banking and consumer finance institutions and individuals for their innovative service offering and commitment to customer excellence. The program also delivers an exceptional benchmark bringing together the most senior retail banking executives, vendors, and other key industry stakeholders from across Asia. The program is celebrating its 13th anniversary this yea
Here Is an Overview of the Award Winning Stories
Übank and Infosys Finacle
Category: Cloud Migration Advances – Completed Deployment
VPBank, and its digital imprint Übank, is a pioneer bank in Vietnam working with financial technology (fintech) partners to power its operations. Using Infosys Finacle’s core banking solution as Software-as-a-Service (SaaS) on Amazon Web Services (AWS), the bank saves on the upfront expense of investing in IT and people and avoids the fear of eventually ending up in IT siloes common with inflexible legacy systems. It is aimed at the underbanked, mobile savvy younger generation. Ü Bank by VPBank aims to provide banking and financial services to its target segment with a digital platform, minimizing the effort and time required to perform banking procedures.
Union Bank of India and Infosys Finacle
Category: Best ATM and Self-Service Innovation
UBI sought to provide a safer and faster way for customers to avoid visiting branches and get their queries resolved conveniently. The bank decided to tap into and leverage the growth potential that a platform like WhatsApp offers by making its services available and responding to customer queries via WhatsApp with Union Virtual Connect (UVConn). UVConn gives its retail customers personalized banking services, at their preferred time, place, and in seven languages. The bank made key services available to the users, including door-step banking, lending, deposits, and grievance redressal amongst others, and cater to customers’ inquiries related to accounts, cheque books, and lockers.
ICICI Bank and Infosys Finacle
Category: Advances in the use of Blockchain
e-Discounting System (e-DS) is a marquee solution which has been developed using Blockchain architecture. This industry-first initiative has the capability to disrupt inland bill discounting transactions in India by bringing together the nuances of trade, government initiatives & power of blockchain. This platform is a one-stop solution that provides all functions of LC (view, review, download) thus enabling the bank’s clients to reduce dependence on paper. e-DS also allows corporate clients to seek & confirm bill discounting rates at the time of LC receipt itself – avoiding to and from email communication with immutable audit trails for all parties.
Punjab National Bank and Infosys Finacle
Category: Best Core Banking System Initiative
Most Innovative Branch Offering
As part of amalgamation, two leading public sector banks – Oriental Bank of Commerce (OBC) and United Bank of India (UNI) – were merged with Punjab National Bank (PNB), making it the second-largest bank in the country. Different products among 3 banks were merged and some were brought as it is from OBC and UNI. There were more than 200 such products. Harmonization of products across the 3 entities was done without disrupting the customer experience leveraging Finacle Core Banking Solution. This should be the first time in India where 3 banks were integrated in such a way that customer from any one bank can go to branch of another bank and take the services from his/her bank. During the consolidation, the Bank delivered uninterrupted services to customers by leveraging Finacle Mobile Teller to offer 14 interoperable services, including cash deposit and withdrawal, fund transfer, fixed deposit, passbook update, and account statement generation, at any branch of PNB, OBC, or UNI. This is one of the fastest technology transformations by virtue of a merger, with the complete migration and end-to-end technology transformation completed in less than 12 months.
