Standard Bank Opts for Infosys’ Finacle Solution in Africa
The bank stated that they chose Finacle digital commerce solution to drive agency banking and increase financial service efficiency across Africa
Finacle digital commerce solution allows consumers to consolidate payment instruments such as accounts, cash or cards, on a single digital wallet, made accessible on their preferred digital channel. Standard Bank, leveraging Finacle, will onboard and manage agents, using the mobile or Internet channels, to service remote customers. The solution will enable agents to offer a host of services ranging from customer on-boarding, cash deposits, cash withdrawal and banking transactions, to service requests.
The solution will enable agents to offer a host of services ranging from customer on-boarding, cash deposits, cash withdrawal and banking transactions, to service requests.
Terry Moodley, Chief Executive, Personal and Business Banking Africa at Standard Bank, was quoted in the press release as saying, “Mobility is a critical component of our business growth in Africa. We see the rapid proliferation and take up of mobile and mobility services, and in some areas Africa is leading the way for the rest of the world. In this dynamic business and technology environment we need to be agile in responding to continually evolving customer needs but also have the flexibility to innovate and differentiate ourselves in the market place. Finacle digital commerce solution from Infosys provides us with the technology platform to deliver on our mobility strategy thereby positively impacting the communities in which we operate and keeping our customers moving forward.
Finacle digital commerce is a multi-channel wallet offering that supports both assisted and self-service channels such as the Internet, mobile, ATM, kiosks and IVR. The service portfolio features:
Digital wallet management: Consumer, corporate and stored value wallets with funding options including cash, prepaid cards, bank account, credit and debit card
Payments framework: Funds transfer, utility bill payments, merchant payments, Peer to Peer (P2P) payments including cash deposit, withdrawal and international remittances through remote or contactless modes
Customer on-boarding: Self registrations through the Web and SMS. Bulk registrations, KYC checks and custom approvals supported
Agency services: Agent on-boarding, commissions, product origination and servicing
Ecosystem management: Merchant on-boarding, payments, settlements and reconciliation.
Haragopal Mangipudi, Global Head - Finacle, Infosys, stated in the press release, “With Finacle digital commerce, we aim to accelerate innovation for financial institutions, telecom providers and retailers. We believe there is a growing market for payments, and cost-effective agency services, driven by access to digital channels. Our partnership with Standard Bank is a great example of how organizations can harness the immense potential of digital money to extend banking reach and spark new growth opportunities.”
Attackers have started exploiting a flaw in the most widely used software for the DNS (Domain Name System), which translates domain names into IP addresses.
Windows 10 had been installed on more than 14 million devices by Thursday evening, a small step toward the company's goal of an installed base of 1 billion.
While the buzz around big data analysis is at a peak, there is less discussion about how to get the necessary data into the systems in the first place, which can involve the cumbersome task of setting up and maintaining a number of data processing pipelines.
Next-generation endpoint protection vendor SentinelOne has received the same certification that many traditional antivirus platforms seek, meaning it can be considered suitable for meeting certain requirements of industry and governmental regulations.