MANAGEMENT ACCOUNTING SYSTEMS USED BY DCB BANK ,VASCO-GOA

IS FINACLE:

What is finacle?

Finacle was successfully implemented and went live on 28th November at ABN AMRO, Taiwan. This is a major milestone bringing next generation banking technology to support the current business and future growth.Finacle finace tools are ideal for engaging banking customers in interactive and personalised product selections and illustrations. Now you can reveal the features and benefits of your financial products, while enabling your customer to compare, select and rank your offerings Available for use stand-alone, and in combination with other Finacle components and third-party systems, finance tools can be applied to all of your sales and marketing channels and at each stage of the customer relationship life cycle. Finacle finance tools feature proven calculations engines and user interfaces that are can be externally configured by your staff to accurately model an unlimited number of your financial products. Extensive integration interfaces are also available to accept product, customer and user interface configuration data from external sources and systems, and to deliver computed results to external systems.

Miss.Sweeja Parab ,manager of this bank provides information regarding it

why does this bank prefers using finacle?

it provide our bank tremendous business agility and time-to-market advantage. Apart from the rich functionality and open architecture, we are especially impressed with its flexibility and scalability, which we feel is critical to our retail driven growth strategy. Infosys impeccable delivery track record, global experience of working with leading banks and the financial viability

reinforced our confidence in selecting such a software.it carries out our entire banking and we have no problem with it.

Advantages of finacle:Business Benefits

Cost-effective Business Engine Finacle inclusion solution enables banks to gain access to a new customer segment and cash in on rich hitherto untapped deposit bases, by setting up a low-cost channel to bank the unbanked, for lesser than US $ 1000 an extension counter.

Ease of Operation Banks can deploy the solution to on-board customers offline, even in the absence of Internet connectivity. Offline banking is enabled through ubiquitous and easy to use devices such as laptops. The innovative spot-registration process supports both smart-card and smart applicationbased banking, reducing customer on-boarding time and lowering entry barriers. The solution can be easily deployed by the banks staff or business correspondents.

Robust Security Fingerprint-based biometric authentication ensures the reliability of every transaction performed using Finacle inclusion solution. In addition, it offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. In addition, data security is achieved through industry standard triple DES encryption.

Cost Savings 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. Inherently independent of the network service provider, it obviates the need to build a business model that involves costs and profits sharing with them.

Customer Delight With Finacle inclusion solution, banks can offer a rich and differentiated value proposition for the unbanked. They can suitably tailor products and services to meet the needs of the unbanked with features that include:

Support for local language in the application Transaction confirmation messages voiced in the local language Fingerprint-based biometric authentication to overcome the literacy barrier

Other banks using FINACLE software as Management Accounting System:

ABN AMRO, Taiwan Aspis Bank, Greece ANZ, Australia Arab National Bank, Saudi Arabia Bank of Alexandria, Egypt Dunbar Bank First Bank of Nigeria, Plc. ICICI Bank Ltd., India Punjab National Bank Union Bank of The Philippines