The company said that the new technology will allow the lenders of all sizes to boost their product offering portfolio to high-net-worth individuals (HNWIs) and mass affluent customers.
Infosys global head Haragopal M said, "The enhanced Finacle wealth management solution will enable banks to offer personalized advisory service, providing the differentiation necessary to compete in this lucrative market."
HNWI banking and financial planning segment is expected to grow by 7.5% between 2011 and 2016, while affluent financial planning segment would touch 7% growth during the same period, a recent Ovum study has underlined.
The new Finacle wealth management tool provides single platform for all wealth management customers, and empowers bank to release tailored products quickly to address the changing needs of their retail and investment banking customers.
It has also the feature for financial planning and portfolio management, including tools for risk profiling, goal planning and portfolio analysis, which allows advisors to deliver better personalized service that today’s HNWIs and mass affluent customers demand.
It has also integrated option for additional asset classes such as fixed income, derivatives, IPOs and alternate investment modules to cater a wider collection of multi-currency and multi-asset class products.
Additional capabilities include a new advisory and management fee module for accrue and view management fees for a customer or across multiple customers; and an advisor dashboard for a complete view of each customer’s net worth, assets and liabilities.
