Software major Infosys has launched the latest version of its Finacle wealth management solution.
Finacle’s new version enables banking clients of Infosys to strengthen their business from High Net Worth Individuals (HNWIs) and mass affluent customers.
“The enhanced Finacle wealth management solution will enable banks to offer a personalized advisory service, providing the differentiation necessary to compete in this lucrative market,” said Haragopal M, global head – Finacle, Infosys.
The latest offering allows banks to quickly introduce new products and services, such as financial planning and investment products, along with traditional retail banking services.
Ovum says HNWI banking and financial planning segment will grow 7.5 per cent between 2011 and 2016. The mass affluent financial planning segment is slated to grow 7 percent in the same period.
Features of new Finacle
The new Finacle brings single platform for all wealth management customers. Infosys says the solution uses a flexible architecture to give banks the ability to customize and release products quickly to address the changing needs of their retail and investment banking customers.
In addition, it features sophisticated tools for risk profiling, goal planning and portfolio analysis empower advisors to provide the high levels of personalized service that today’s HNWIs and mass affluent customers demand.
Fixed Income, Derivatives, IPOs and Alternate Investment modules have been integrated onto a single platform and enables banks to offer a wider selection of multi-currency and multi-asset class products.
A new advisory and management fee module allows advisors to accrue and view management fees for a customer, or across multiple customers, Infosys said on Wednesday.
A detailed dashboard provides an insightful, 360-degree view of each customer’s net worth, assets and liabilities. This helps banks offer personalized products and services to HNWIs and mass affluent customers and increase wallet share within this segment.