#Finacle banking solution manual#

The company also found it difficult to expand its reach to matured markets like the US. 'The product was thus seen as rigid and notВ user-friendly,' the executive added.

#Finacle banking solution manual#

вЂњIn banks, you will have specific set of processes that are being automated and others like HR that are manual as integrating the two was not possible,вЂќ the executive added. For one, banks found it difficult to customise FinacleвЂ™s functionalities based on their needs.ДЄnother issue was the integration of non-financial processes of banks with the financial processes automated by Finacle, the executive pointed out. вЂњBack in 1999 or early 2000s, the concept of automating banking processes was new and there was a lot of euphoria around it,вЂќ a former IT executive with a rival firm, who has also worked with FinacleвЂ™s banking customers, said.Д«ut once banks got past the euphoria, there was the harsh reality.

The product competes with Temenos, a Swiss company, Oracle i-Flex and TCSвЂ™ BaNCS for digital banking. Over the last few years, the company rebuilt it portfolio to suit the changing technological and customer needs, making it relevant for financial services.

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