Post core banking, focus shifts to wealth mgmt

Written by Kumud Das | Mumbai, Dec 28 | Updated: Dec 29 2007, 06:05am hrs
Wealth management will be the new frontier for tech-savvy banks after they meet core banking solutions, said Haragopal Mangipudi, vice president and business head of Finacle- a subsidiary of Infosys Technologies.

Finacle, has already developed solutions for wealth management. As a pilot project, we have deployed our wealth management solutions for a few banks in Singapore and Hong Kong and we are looking forward to Indian markets too, said Haragopal.

Integrated with Finacle core banking and CRM solutions, the wealth management solution ensures unique customer definition, a single, unified view of the customers portfolio across asset classes and a seamless flow of transactions. This helps banks capitalise on their customer base and create additional revenue streams Haragopal said.

On the broad technical needs of the mid-sized banks, Haragopal said that mid-sized and smaller banks would benefit immensely from technology solutions that come with an integrated solution and integrated implementation framework comprising essentials like pre-configured banking products, processes, templates and detailed documentation.

Another solution developed by Finacle for bank treasuries, has already been implemented at global banks such as Credit Suisse and Mizuho Corporate Bank, said Haragopal.