FREE MOBILE CLOUD COMPUTING CONCEPTS
By Clear Cloud participant Jerry
McCall with Kansas City Mobile Pros
Finacle mobile banking solution empowers retail and corporate banking customers with access to banking services
through SMS, GPRS/ 3G and USSD-enabled handsets, leveraging a single platform. The solution provides a secure, multi-lingual
channel for banks to innovate by easily deploying new services with improved time to market. The end user experience thus
created is richer and truly convenient.
Finacle mobile banking solution integrates easily with disparate host
systems, core banking solutions, payment networks and third-party applications. The solution leverages Infosys mConnect, the
indigenously developed middleware, which orchestrates mobile transactions between users’ devices and the Finacle universal
banking solution. Infosys mConnect handles the multiplicity of form factors and access mechanisms on multiple devices to provide
a context and device independent view to the transaction server. This presents banks with a powerful channel to service customer
segments ranging from the mass affluent to the under-banked or unbanked, surmounting the challenge posed by the diversity
of mobile devices.
The ubiquity of the platform adequately addresses the challenges of encryption, communication,
synchronization, image resizing, downloading and security. This ushers in the advantages of reduced integration by leveraging
common interface messages, maintenance and deployment costs.
Banking and Payments
Value Added Services
Greater Customer Convenience
Finacle mobile banking solution empowers banking customers
to make informed decisions by providing them with an invaluable set of financial management tools on the mobile handset. These
tools help in quantitative and qualitative analysis, as well as in the selection and comparison of financial products.
Reduced Turnaround Time
mobile banking solution has a robust integration framework which allows it to function in tandem with disparate host systems,
core banking solutions, payment networks and third-party applications. This translates into reduced go-to-market time for
the bank as well as support for legacy systems.
Robust Inclusivity Framework
Finacle mobile banking solution leverages Infosys mConnect to smoothly hurdle the
challenges posed by the multiplicity of form factors and access mechanisms on multiple devices to provide a contextagnostic
view to the transaction server. This enables banks to include, through the mobile channel, its various customer segments,
ranging from the HNWI to specific unbanked communities, surmounting the complexities of diverse location and dissimilar mobile
Banks can leverage Finacle solution’s indigenously developed middleware Infosys mConnect, to configure an unlimited
palette of services from any channel, to the mobile space, with ease. The need for development of new back end services is
precluded due to the availability of a banking solution behind the mobile interface. Finacle also provides the flexibility
to deploy services over the existing online banking platform or through a standalone delivery channel interfaced directly
with the relevant host systems. This ensures the rapid delivery of a comprehensive range of financial services, embellished
with new innovative features, on mobile devices.
The solution offers extensive application security features like URL encryption, referral
URL check and session management to provide a robust security framework. The solution also supports OTP (one time password),
which provides a two factor authentication mechanism for users transacting with downloadable mobility client. This enables
the bank to offer products that are highly secure and geared to withstand the onslaught of security threats associated with
The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance
and deployment costs. This translates into significant cost savings without banks having to compromise on features or the
range of devices supported. The mobile banking solution is inherently independent of the network service provider, obviating
the need to build a business model that involves costs and profits sharing with them.
Finacle mobile banking solution enables banks to offer
the convenience of comprehensive anywhere anytime banking, using GPRS, mobile browser or SMS. It supports a wide range of
mobile devices and mobile browsers. Banking customers can query on account balances and make fund transfers. Banks can also
proactively send timely information to customers in a completely secure environment, whenever a customer-defined event occurs.
The solution’s self-service capabilities empower customers to manage their banking activities better. The solution also
addresses data transmission and storage related security concerns adequately, delivering a truly streamlined customer experience.