INNOVATING WITH
INFOSYS FINACLE
PROCESS INNOVATION
WINNERS
United Bank for Africa for ‘Leveraging
APIs for transaction authentication
and reconciliation’ for corporate
customers
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INNOVATION DRIVERS INNOVATION HIGHLIGHTS
United Bank for Africa PLC is a leading banking group Workflows were developed to process transactions completed
in Africa with operations in 19 countries within the by front end tellers in the bank’s branches. Custom tables were
continent and branches in London, Paris and New then developed to warehouse transaction details particular to
York. The bank serves a diverse set of customers customers .To ensure online rendition of transaction details,
with different reporting and transaction tracking restful APIs were used through the web with minimal cost on
requirements. The bank wanted to develop a solution point to point connectivity. The solution used the Integrated
that will integrate Finacle core banking solution with Development Environment of Finacle core banking solution
the customer’s ERP solution and reconcile their branch to develop back end and front end scripts and used services
transactions with their database. Leveraging on APIs, within Finacle version 10 (SRVs) for transaction processing.
the transactions completed in over 700 branches Shell scripts were used to call APIs and respond on URL.
of the bank now flow online to their customers’ Enterprise Service Bus that wraps third party APIs and exposes
data base giving feedback with details on barcodes, them for internal consumption in Finacle scripts were used.
tracking reference number from customers data base Jasper reporting tools were used to design customer centric
which are printed on custom deposit slips in the deposit slips and formats and Finacle Integrator was used with
acknowledgement to depositors. the option to call custom scripts.
INNOVATION BENEFITS
The ability to consume third party APIs within Finacle scripts
was used innovatively by United Bank for Africa. Online
transmission of transactions to customers data base with
concurrent feedback to depositors is a multifaceted solution
to the problem of authentication of transactions, reconciliation
and eliminates loop holes for cash suppression. The bank
has benefitted in terms of providing customers a better way
to track transactions and reconcile sales & inventory online.
This has helped the bank deepen relationship with their
customer leading to increased business volume with the bank
recognizing NGN 25 billion in collection turnover annually.
External Document © 2017 EdgeVerve Systems Limited
About Infosys Finacle
Finacle is the industry-leading universal banking solution from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. The solution helps financial institutions develop deeper connections with
stakeholders, power continuous innovation, and accelerate growth in the digital world. Today, Finacle is the choice of banks across 94 countries, and serves over 848 million consumers – estimated to be nearly
16.5 percent of the world’s adult banked population. Over a billion bank accounts are powered by Finacle globally.
Finacle solutions address core banking, online banking, mobile banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, and analytics needs of financial
institutions worldwide. Assessment of the top 1000 banks in the world reveals that institutions powered by Finacle enjoy 50% higher returns on assets, 30% higher returns on capital, and 8.1% points lesser
costs to income than others.
For more information, contact [email protected] www.finacle.com
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