digital commerce solution

7/30/2019 Digital Commerce Solution

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ACCELERATE INNOVATION.

Power growth through digital money.

Finacle Digital Commerce Solution

www.infosys.com/ nacle

Universal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing

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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.

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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

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http://www.infosys.com/finacle/solutions/Pages/digital-commerce.aspx





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

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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



• 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:

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• 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



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.

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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.

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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.



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