Infosys launches Finacle Youth Banking solution

Infosys has launched mobile based banking solution for young people, Finacle Youth Banking solution.

Infosys has launched the digital banking solution to give idea of financial responsibilities to the young customers between 12 to 18 while making banking a fun experience.

The new digital banking solution is easy to use to help banks expand unbanked new generation customer base.

Registration, collection of Know Your Customer (KYC) documents and setting transaction limits are the three steps to complete customer on boarding.

Customers can use ‘goals management’ for savings, ‘do transactions’ for payments, funds transfers and online shopping, and gamification for infotainment.

Infosys finacle

Company said the young holders can operate the account themselves but they need the permission and approval from the guardian before trying to make transaction beyond preset limits.

“With Finacle’s Youth Banking solution, banks can take a lead in engaging with these young customers for their financial needs and aspirations,” said Michal Reh, senior vice president and global head, Finacle, Infosys.

In March, Infosys announced Infosys said Finacle suite of solutions will be available on Microsoft Azure enabling banks to utilize Finacle solutions.

In January, Emirates Islamic Bank (EI) selected the Infosys Finacle Islamic Banking solution to power its operations.

Finacle supported the Middle East bank to serve its customers with better efficiency, manage its operations effectively, and meet the reporting and compliance obligations.

In February, Infosys signed a deal with ABN AMRO to provide IT services for the bank’s operations and to deliver services across application development and maintenance, testing and product implementation.

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