INFOSYS FINACLE PRODUCT INNOVATION WINNERS ICICI Bank for Cashless Payment on Online Purchases at the Time of Delivery

INNOVATING WITH INFOSYS FINACLE PRODUCT INNOVATION WINNERS ICICI Bank for Cashless payment on online purchases at the time of delivery

2 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS ICICI Bank has a reputation for leading market change ICICI Bank’s Cashless Pay on Delivery is a new facility in India. Recently, it wanted to convince the country’s whereby merchants can offer their customers the enormous cash using population to switch to Internet option to pay for online purchases through Internet Banking. One way to do that was to get online shoppers Banking at the time of delivery. This is expected to be to pay using Internet Banking, instead of handing out a game changer in an ecommerce market where “cash cash at the time of delivery. The Bank knew however, on delivery” is the most popular method of payment. that customers wouldn’t make the shift if they had Users need to register for this service on the merchant to pay for their purchases in advance. It hit upon an site through a registration process that is similar to the innovative idea, namely, to give online payment the existing registration process on the Internet Banking comfort of an “on delivery” option. platform, with the only difference of the URL being appended with an additional parameter

At the time of delivery, the merchant initiates a request for an OTP (One Time Password) using an API, as part of a server-to-server communication that transmits product details along with a ‘’Pay On Delivery ID‘’ that is generated during registration. The OTP is sent to the customer’s e-mail or registered mobile number and the merchant is notified of this event. At the time of delivering the product, the customer enters the OTP onto the delivery personnel’s handheld device. This triggers another API that validates if the OTP entered by the customer is correct. . Upon successful validation, payment is made to the merchant. INNOVATION BENEFITS Cashless Pay on Delivery is expected to boost Internet Banking transactions and competitive advantage for ICICI Bank. Customers also benefit because they only need to pay once they receive the goods.

4 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS ICICI Bank is not only India’s largest Private Sector Bank, SmartKeys from ICICI Bank is a new iMobile functionality but also one of its most innovative. Witnessing a shift in that allows customers to transact using their mobile consumer preference for “on-the-go” services, the Bank phone keyboard. The Bank is the first in Asia to responded by introducing SmartKeys, a pioneering introduce such a feature, which aims to increase user feature that would allow customers to make mobile interaction in iMobile APIs and thereby contributing to payments quickly and securely without switching tabs the increase in the transaction volume from mobile. This or applications on their smartphones. is also the first successful implementation of banking on a mobile device keyboard without even a swap of applications.

iMobile APIs developed on a Worklight platform are now used to call a variety of fund transfer services. The transaction proceeds as follows: launching the ICICI keyboard, logging in using credentials such as MPIN or Touch ID, viewing account details, transferring funds using IMPS, making payments using the favorite transaction feature, and receiving a notification via social messaging. INNOVATION BENEFITS SmartKeys greatly enhances customer experience, while opening up a new channel and avenue for customer acquisition and revenue generation for ICICI Bank. With this innovation, the Bank has cemented its place as a frontrunner in the use of digital technology.

6 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS As an innovation leader, ICICI Bank is always looking Tap n Pay is yet another digital innovation from ICICI Bank to pioneer new technology services that add value to to improve customer experience. It is India’s first contactless its customers. Responding to the rapid evolution of mobile payment solution, enabling customers to make the Indian banking market, the Bank launched Tap n cashless (and cardless) payments by simply waving their Pay, enabling customers to make cashless and cardless smartphones near an NFC-enabled merchant terminal. payments using their smartphones. The Bank is also the first financial institution in the country to leverage Host Card Emulation (HCE) technology for creating this solution. When a customer makes a Tap n Pay transaction using a smartphone, the relevant payment information flows to the terminal in the form of a token that is encrypted using WBC (White Box Cryptography). Only a limited number of tokens are initially made available for executing transactions and once exhausted the customer can send a request to the ICICI Bank cloud server INNOVATION BENEFITS Tap n Pay offers several benefits. One, it eliminates the problems associated with conventional payment modes, such as cash and coupons. Two, it improves security by routing transactions through a secure, tokenized payment channel and by storing customers’ card information on the Bank’s secure servers rather than on the customers’ mobile phones. Three, it improves convenience, speed and experience for customers. Last but not least, the solution keeps customers up to date on their transactions by instantly sending out confirmation complete with transaction amount and balance, via text message, as soon as the payment is made. ICICI Bank aims to provide this cashless transaction service to 20 million debit and credit card customers. Since the launch of Tap n Pay, 2949 cards have been added in the Pockets application.

8 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS RAKBANK is a highly innovative bank in the UAE that Home in One combines a customer’s Current Account, has revolutionized the financial landscape in its region. Interest Savings, and Mortgage Loan into an easy One example of this is “Home in One”, a pioneering to manage solution with a range of benefits. It is solution combining a customer’s Current Account, available to UAE residents for purchasing or refinancing Interest Savings and Mortgage Loan, which stands out residential properties. in a market full of generic offerings. With Home in One, The solution has been built using Finacle FSDP (CWB), the Bank has managed to differentiate itself through its Finacle Integrator, and Finacle Scripting. product, where other banks resort to interest rates and incentives.. INNOVATION BENEFITS Home in One allows customers to easily fulfill all their daily banking needs such as transferring funds, managing savings, withdrawing cash and paying bills. In addition, it gives them a unique mortgage facility that offers unmatched flexibility and a range of benefits. Interest on mortgages is calculated daily, which means customers pay less interest when they maintain a higher balance in their accounts. Maintaining a healthy balance allows them to offset loan interest payments while enjoying the flexibility to withdraw funds as and when required.

RAKBANK has also benefited from the ‘Home in One’ initiative which generated a lot of interest with the pipeline exceeding AED 100 million in less than a month of its launch. The Bank anticipates a healthy growth in mortgages and a drop in early loan settlement thanks to this product. Last but not least, the implementation of Home in One in record time has given the Bank valuable first mover advantage in its market.

10 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS In 2014, four major enhancements to the UShare payment system improved overall customer experience Kalipay Negrense, a non-profit organization that and engagement. supports disadvantaged children in the Philippines relies heavily on funding from Europe and the United The online dashboard reconciled successful donations States. In the past, receipts in cash and check had versus settled donations, to give clients a real-time view to undergo wire transfer and clearing respectively. of transactions that had been settled in their account or Moreover, reconciliation was manual and therefore were still in process. error-prone. It was a challenge to track inflows and UShare started accepting multiple currencies reducing acknowledge donations that were made online. The the foreign exchange risk for donors. organization realized it needed a more efficient way to collect funds. A credit card recurring facility was added to give donors the option of enrolling their credit cards for weekly, This triggered UnionBank to come up with an monthly, or quarterly donations or contributions. alternative solution, with more payment channels and a better monitoring mechanism, in the form of UShare, Last and most important of all, the donation process an off-the-shelf solution which has helped hundreds of was streamlined by reducing the number of required organizations in the country raise funds. data fields and improving the user interface. INNOVATION HIGHLIGHTS INNOVATION BENEFITS UShare is an innovative end-to-end solution from Ushare’s online portal has enabled user organizations to UnionBank for non-profit organizations. The solution reach out to donors worldwide, and raise funds online was tailor-fittedto address the online payment with ease. But the bigger benefit is reporting – a web- collection and account information management based dashboard offers real-time, detailed information solutions, by everaging the power of online payment about donations received. channels to reach potential customers around the As of August 2016, UShare had 259 clients. A total of world. UShare has four components: (1) Payment Php 138M was collected between 2014 and 2016. Integration (making multiple payment channels, such as credit or debit cards, online banking, OTC, and non- bank OTC, available to donors), (2) Online Donation (creating a website and a donation portal), (3) Web- based Dashboard (real-time reporting of transactions), and (4) Business Check Account (where all donations are settled).

12 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS MMCM is very useful for companies operating in remote areas. Corporate clients can now accept payments Mobile Money Cash Management’s (MMCM) pilot client, through the payer’s own mobile phone prefunded with Tulay sa Pag-Unlad, Inc. (TSPI), is one of the largest micro- GCash. The payer simply makes a bill payment and inputs finance institutions in the Philippines with roughly 500,000 payment tracking details. The Bank provides customized member borrowers or “nanays”(mothers). In the most collection reports on a near-time basis . By the next remote TSPI communities, nanays had to travel 4 hours back banking day, GXI, the Bank’s partner, simply deposits funds and forth to the nearest bank to pay their group’s weekly to the client’s account similar to their current settlement amortization. They also incurred burdensome expenses system with their billers. for transportation and food. There was a high security risk because of the cash involved. Some nanays with small INNOVATION BENEFITS businesses ended up wasting valuable business hours in MMCM offers clients an easy and worry-free mode of paying for their amortization. TSPI, because of nationwide payment. In the case of TSPI, MMCM saved long hours of operations and manual processes, needed to maintain travel and eliminated the worries pertaining to branch hundreds of accounts in commercial, rural, and thrift banks closing time and security risks. and would spend 2 weeks to reconcile payments. Because TSPI experienced drastic operational improvements due to of these inefficiencies, it could not build and market new the automation of payment processing. It no longer needs products. UnionBank’s Mobile Money Cash Management to maintain accounts with several banks and employ many (MMCM) addressed all these issues by providing a safe and people to process and reconcile payments manually. convenient mobile collection and disbursement solution, TSPI can now focus efforts on creating new products and real time reporting, and same-day reconciliation. services that help generate more income for the company. INNOVATION HIGHLIGHTS The MMCM project has also improved the cost structure of the organization. Each of the 150 branches, which used MMCM leverages UnionBank’s expertise in cash to have at least two accountants for manual processing, management and its partnership with the leading electronic now only need one. This has saved more than PhP20 money issuer (EMI), Globe GCash, to provide mobile money million (>$500,000) annually. Other operational costs such services, where electronic currency, stored as mobile money as transportation to the nearest bank branch and bank (MM), can be used for a variety of banking purposes. charges have decreased since TSPI branches no longer process loan disbursements through check. Everything Operators accredit partner merchant outlets as cash-in/ is now conducted at a centralized processing unit in the cash-out agents where subscribers can convert cash to head office. MM and vice versa, sign up utility companies, and other agencies as billers, and expand usage of MM by building communities that accept it in almost every retail and government establishment

14 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS Family Banking is a product in which individual “TMB Happy Family” is a scheme that links all the members of a family can group their respective accounts belonging to a family using a single ID called relationships with bank (Savings Account) under a Family ID. With this, the entire family can enjoy the single ID called the ‘Family ID’. TMB Happy Family advantages of the Bank’s privileged services through Banking lets families enjoy all the benefits of Privilege Family Banking at a concessional rate. In addition, family Banking. To be part of this initiative, the account members are covered under Life Insurance, Health holder has to link his family members’ accounts with Insurance and Accidental Insurance Schemes. TMB Happy Family Banking. This would permit all A customized workflow was developed in Finacle to link the members of the family benefit from the bank’s all the family member accounts under a single Family privileged services through Family Banking. ID and automate the process of paying premiums The account holder needs to maintain a lower to Life Insurance and General Insurance companies. minimum monthly average balance at the family Customization was done using Finacle Scripts. level. Each family member doesn’t need to maintain minimum balance individually. INNOVATION BENEFITS TMB Happy Family offers multiple benefits including privileged services at concessional rates, besides Life Insurance, Health Insurance and Accidental Insurance cover.

Automation Collection and renewal of insurance premium is automated.

Accounts opened under various schemes are linked, and on which family members enjoy privileged services. Since it was introduced, the scheme has covered 6,000 accounts, linked by 1730 Family IDs. The scheme has also attracted new customers and increased the current and savings accounts base.

16 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS Emirates NBD, which leads the payment cards market in Emirates NBD Pay is a mobile payment solution the UAE, is highly committed to innovation. Recently, it enabling contactless payments. The solution allows brought one more next-generation banking offering to customers to digitize their physical cards on an Android its market in the form of Emirates NBD Pay. smartphone and make payments on NFC enabled POS machines. Emirates NBD Pay leverages Android’s Host Card Emulation (HCE) and VISA Tokenization Services to digitize cards and store them securely on Android smartphones. Payments are made over the Near Field Communication (NFC) protocol. INNOVATION BENEFITS Customers can make payments by using their digitized cards on their smartphones, which is more convenient and secure than using physical cards. The payment experience is such that it may well make Emirates NBD Pay the payment mode of choice, to give the Bank a big advantage versus competition.

18 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS The UAE Government implemented an integrated The Emirates ID Authority provided a Software identification system for issuing a Unique Identification Development Kit (SDK), which was ported on the Card, called EIDA. Access to all essential services is now Bank’s ATM machines, enabling them to read EIDA Card governed by this EIDA Card, which stores a person’s information from the same slot that read ATM cards. essential details such as name, passport number, Once the card details were read, this information was address, visa details, employer details, contact number validated in real-time with the EIDA servers to check and email ID. card authenticity. Upon successful validation, the customer details were updated in Finacle through the FI Emirates NBD, which needed to update the Unique interface. ID information for existing customers, was able to do so only in its branches. Looking for a way to broaden INNOVATION BENEFITS this process, the Bank worked with the Emirates ID Emirates NBD benefited from this innovation by gaining Authorities to implement a technology innovation that authentic, high quality customer data in a very cost would enable them to update customers’ ID information effective manner. It was now possible for the Bank to through ATMs as well. monitor and detect fraudulent transactions. Besides capturing the required ID information, Emirates Customers benefited in terms of convenience, since NBD was also able to update customers’ demographic they could easily update their details without providing data, which would be quite valuable to its business. paper documents or visiting the branch.

20 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS The technology for creating merchant IDs and authorizing transactions is based on QR codes. The mVISA application ICICI Bank is always coming up with digital-world innovations within Pockets has an integrated QR code reader that can that add value to its customers. In a bid to reduce the cost of “read” and authenticate a merchant instantly for payments. card issuance and acquistion, the Bank came up with mVisa, Using this method, customers and merchants can interact a simple simple QR code-based payment technology which from remote locations for making and accepting payments. enables Visa cardholders to initiate payment transactions from a mobile, thereby eliminating the need for both plastic cards INNOVATION BENEFITS and swiping machines at the point of sale. Being an issuer, ICICI Bank naturally wanted to increase With this technology, any merchant can create a QR code for cashless transactions. The ratio of customer spending through accepting payments by signing up with any mVisa enabled cards to ATM cash withdrawals was only about 11%-13% for acquiring bank. Cardholders have to simply scan the QR code the Bank. using mVisa (a feature embedded inside the issuing bank’s To encourage customers to switch to non-cash transactions, mobile application) to pay the merchant. the Bank had launched a number of innovative products and channels at regular intervals, and incentivized customers INNOVATION HIGHLIGHTS for using them. mVisa is one more important step in this endeavor. mVisa combines the power of mobile connected devices with “push payments” to effect transactions. It is based on With mVisa, customers can transact easily and securely, an existing, popular mobile platform, allowing mVISA to without having to carry their cards. The greater control over receive maximum attention and acceptance from customers. mVisa’s “push” transactions lowers customers’ financial risk and The Bank has already provided customers with a range of the Bank’s losses on account of chargeback. mobile apps that are now being used actively. The Pockets ICICI Bank, along with infrastructure partner ICICI Merchant app is the Bank’s primary payments app, which doubles as a Services Ltd. (IMSL), is able to on board small merchants digital wallet, repository for customer offers and benefits, and especially in Tier-2, Tier-3, semi urban and rural areas who are shopping and payment app for online transactions. Hence, not connected to the electronic payments network. mVISA was integrated with Pockets.

Also, since mVISA was based on a “push” transactions model, there was a need for a mechanism for authenticating customers. Pockets, with its existing mechanism of using Internet Banking login details or mobile PIN based authentication, was an apt choice, since it would spare customers the inconvenience of a separate authentication process for initiating mVISA payments.

22 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS ICICI Bank wanted to help customers who were finding It was a major implementation challenge to integrate it difficult to pay taxes on time through the existing with depository NSDL to ensure every customer’s name channels. This resulted in an innovation which enabled and other details matched with Income Tax Records. customers to make direct tax payments on iMobile ICICI Bank was the first to overcome this and launch tax instantly. payment functionality on Mobile. INNOVATION BENEFITS The innovation gave customers a convenient tax paying experience. It is expected to generate approximately 60,000 transactions per month for the Bank. The Bank could also earn additional revenue by charging a small transaction fee on tax payments.

24 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS Because credit facilities were unavailable at night or The core technologies used are J2EE, IBM Websphere on holidays in Sri Lanka, banking customers were server and an Oracle 10g backend. helpless in times of financial emergency. To alleviate Stability is maintained using a clustered environment this situation, Sampath Bank launched “Instant Loan”, for the Web Server, DB, and Application server, 3 Tier the country’s very first online loan application. This firewall architecture, Web application firewalls and Web has given customers a very simple and speedy way of server global server load balancing (GSLB). High-end obtaining a loan through the online banking system enterprise level servers and code reviews have been at any time. With Instant Loan, customers do not have used. QA and Systems Audit procedures and third party to wait for approvals or visit their bank to get a credit reviews and testing have been rigorously followed. facility. The service grants cash margin loans online against the customers’ fixed deposits. A secure network channel (https) and two-factor authentication ensure transaction safety. INNOVATION BENEFITS Customers can obtain a loan within a few minutes, without even going to the branch. They have the flexibility to decide repayment period and frequency. The system displays the installment amount and interest rate when a request is initiated. Customers can withdraw the loan amount from the ATM or over the counter.

The Bank has been able to grant 400 loans per month worth Rs. 80,000,000, on average. This has earned it a monthly fee-based income of about Rs. 200,000. In addition, the Bank has saved a lot of money that would otherwise be spent on staff and processing paper.

26 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS With the ecosystem increasingly playing a key role in The implementation consisted of an API gateway banking services delivery, Emirates NBD wanted to that hosted a catalogue of subscription services. The take the API route to take full advantage of this trend. platform authenticated third parties and allowed the It decided to create an open API framework to enable Bank’s customers to permit those third parties to use third parties to access and use its APIs securely from their banking information. This platform was integrated their applications. with the Bank’s middleware as one of the channels. It provided the information needed for billing so that the Bank could generate revenue from the third parties using its APIs. INNOVATION BENEFITS The open API framework enables external innovation and crowd sourcing. It allows external partners to develop mobile and web applications to offer innovative services to their customers, utilizing the Emirates NBD IT infrastructure. With the open API platform the Bank has moved away from typically slow internal digitization and innovation strategies to a much faster route involving expert third parties.

Emirates NBD is the pioneer of open API technology/ services in its region. It has managed to improve customer service by extending accessibility options, which has also allowed it to tap hitherto unbanked segments. There is also an opportunity to generate revenue by acquiring new customers and increasing business from existing clients.

28 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS The Philippines has approximately 10,000 bank PartnerPay is an expanded over-the-counter (OTC) branches and 15,000 ATMs, which are insufficient to collection/bills payment facility made possible by serve 40,000 districts, or “barangays”, across its 7,107 partnering with rural banks, pawnshops, remittance islands. No one organization can cover them all. Despite agents, and other third party branch networks to its strategically-located network of 211 branches receive payments for Union Bank corporate clients. This nationwide, Union Bank of the Philippines could not addresses the Bank’s corporate clients’ need for OTC serve the population in several areas where it lacked a collection points outside the branch network. Thanks to physical presence. PartnerPay, Union Bank is now able to collect from more than 10,000 collection points, including those in remote In order to increase its reach, the Bank launched areas. By integrating with the systems of its various PartnerPay, which enabled it to expand its network by partners, the Bank ensures that payments are still partnering with remittance networks such as Western captured in real-time and customers receive the same Agents USSC , PetNet, LBC, Cebuana Lhuillier, and the experience that they would get in a Union Bank branch. like. The infrastructure and branch coverage of these partners not only expanded the Bank’s collections and INNOVATION BENEFITS payout channels, but also that of its corporate clients. Besides increase in business volume and network, benefits include more convenience for the Bank’s corporate clients and customers. It has greatly helped businesses to collect payments easily, quickly, safely and during extended hours from the partner network, instead of spending hours traveling to remote collection locations and risking security by lugging large amounts of cash over long distances.

PartnerPay has also helped the Bank’s clients to provide their customers with convenient collection points on the large partner branch network.

30 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS As a provider of money transfer and tracking services The Money2India Europe mobile app is built on the across 17 Eurozone countries, ICICI Bank knew how MVC Framework using Angular JS, which makes it important it was to provide its customers with a fast, more stable and scalable. The application is hosted easy and accurate platform for remitting money home. on the IBM Worklight platform, which ensures it is The Bank launched the Money2India (M2I) Europe supported by robust infrastructure, capable of handling app to enable M2I Europe customers transfer money large customer traffic. The technologies used are to registered beneficiaries in India. M2I Europe is Spring , MVC, J2EE , Java 1.7, JDBC, Oracle 12c, Restful integrated with Payment Gateway, Payon, to enable Webservices and HTML5. faster remittance to the beneficiary account. The app is available for Android and iOS platforms and INNOVATION BENEFITS customers can seamlessly register, carry out video KYC, The Money2India Europe mobile app offers a fantastic check exchange rates, transact and check the status of user experience to remitters, with a fully integrated transactions. The Money2India Europe mobile app is registration and video KYC capability, the first of its fully compliant with EU regulatory guidelines. kind in Europe. It is the first mobile app from an Indian private bank with video KYC capability, enabling customers to complete the identification process within 10 minutes, from their home.

Other key benefits include an intuitive and easy-to- use UI that offers a better user experience and 24x7 availability. Within a month of the official launch of the Android and iOS versions, ~15% of regular users downloaded the app and started using it. The app has improved customer stickiness for the Bank.

32 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS When customers withdrew or deposited cash, the A new Finacle menu option was introduced for teller tellers in Sampath Bank had to manually separate operations processed using the Automated Teller Safe. currency notes by denomination before counting them Finacle scripting and Oracle database functions were using a cash counting machine. Seeking to eliminate used to develop the option while Java was used for this inefficient process, the Bank implemented a integration. system called “Automated Teller Safe” to handle all cash transactions at the counter. Now, the tellers can simply INNOVATION BENEFITS launch a menu to initiate cash counting, enter the total The Automated Teller Safe (ATS) has dramatically amount, list the various denominations, and post the increased the number of daily transactions. An ATS transaction, automatically. The system has managed to operating counter processes about 380 transactions eliminate most of the manual tasks in this process. per day compared to a normal teller counter, which manages only 250 transactions per day in the same branch. The new system has also reduced the incidence of cash excesses and shortages. The teller can close a day’s work within 5 minutes on the ATS, when it used to take 30 minutes in the traditional system. The Bank has been able to reduce the number of branch staff because of improvement in teller performance. Customers too have benefited from the shorter queues and waiting times. Service has improved, resulting in higher satisfaction.

34 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS A workshop conducted for ICICI Bank branch staff The ICORE-India Single Screen was built using Finacle revealed that 80% of branch operations were conducted 10.2.12.02. using 7 menu options, which were cluttered with multiple fields many of which remained unused. Some INNOVATION BENEFITS menus had multiple tabs and long scrolling windows. The new simple and user-friendly interface has Moreover, tellers were maintaining parallel records reduced the time taken for processing transactions of balance, exchange, denomination etc. on paper or and eliminated the use of worksheets to maintain cash spreadsheets. denomination details. It is now possible to process Since this was not ideal from a user efficiency or customer customer requests for updating demographic details, in service point of view, the Bank sought to change its parallel. user interface. As it was not possible to optimize the Standard values in identified fields are populated existing product menu options, ICICI Bank decided to automatically. When network bandwidth is low, create a completely new menu, called ICORE-India Single the screen size can be scaled down. By providing a Screen UI, for a specific set of activities and requirements. photograph, signature and mobile number in parallel, Functionality was enhanced to allow updates to customer the ICORE-India Single Screen has helped governance information, such as mobile number, email ID and PAN and fraud control. number in the same screen used for transactions. The solution eliminates the need to toggle between various menus and applications to fetch customers’ demographic details, which are now available on the same screen itself. This has shortened queues and improved customer service.

With the ICORE-India Single Screen, ICICI Bank potentially saves 272 man-days every year.

35 I External Document © 2017 EdgeVerve Systems Limited INNOVATIVE CUSTOM COMPONENTS RUNNER-UP Bank of Baroda for ‘Enhancing customer experience by connecting Finacle to multiple third party web portals’

36 I External Document © 2017 EdgeVerve Systems Limited INNOVATION HIGHLIGHTS Bank of Baroda wanted to create a micro service layer to make outbound calls from Finacle to any whitelisted third party web portal. This allows the bank to consume information related web-services exposed by third parties. This has been enabled using Restful web services/SPARK framework. One of the applications of this service include looking up Aadhaar through NPCI for authentication. Utility agencies provide bill details fetching services on their portal. The bank can now use this service framework to enable Over The Counter bill collection for these agencies and a bank’s customer can instantly register / de-register bill payment for these utilities on the bank’s mobile banking solution. This innovative service framework is resource optimized, highly scalable, light-weight, maintenance free, and required minimum developmental efforts.

37 I External Document © 2017 EdgeVerve Systems Limited PROCESS INNOVATION WINNERS United Bank for Africa for ‘Leveraging APIs for transaction authentication and reconciliation’ for corporate customers

38 I External Document © 2017 EdgeVerve Systems Limited 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.

40 I External Document © 2017 EdgeVerve Systems Limited INNOVATION HIGHLIGHTS eMF is a unique platform which helps 350,000 wealth management customers of ICICI Bank to invest in Mutual Funds from 20 AMCs and across 4 RTAs. The platform offers real-time support without any manual intervention to create an end-to-end Straight Through Processing environment. This is a first of its kind initiative where a broker bank has established a real-time bridge with all the 4 RTAs. The project called for development at both ends, namely, Bank and RTA, to build a real-time interface to report the Mutual Fund feed files. An interface layer was developed which was responsible for interacting with the RTAs’ heterogeneous interfaces. The feed formats and service specification included XML over web API and file uploads over a secure connection. The same was developed in such a way that it made minimal impact on the existing setup, and did not load the infrastructure further. The development was done on the dot NET platform. INNOVATION BENEFITS eMF has yielded several benefits. It has mitigated the risk of manual intervention in large value/ volume transactions. Customers have an additional 45 minutes to invest in or redeem a fund and perform the transaction at the Net Asset Value (NAV) on that day. Also, they can see the real-time status of a transaction with the RTA. The Bank stands to benefit by earning more revenue as the number of transactions increase. The system is scalable enough to meet any future increase in demand.

42 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS Previously, ICICI Bank’s case underwriting business HTML5 provides UI, Navigation, Data Processing and model required a credit manager to personally visit the Integration with the server. It consists of HTML5, CSS3 customer at home or in the office, to gather information and JavaScript. Angular JS and Bootstrap ,IBM Worklight and conduct business verification. The entire process ,Apache Cordova. The technologies used include Spring was carried out using a physical medium, namely a MVC, J2EE, JDK 1.7, and JDBC. Personal Discussion (PD) sheet, along with physically collecting and submitting the necessary documents. In INNOVATION BENEFITS the case of HL resale as part of the mortgage portfolio, The Personal Discussion mobile app offers a fantastic the Bank’s representative had to verify the seller based user experience to credit managers, enabling them on a visit to the property and a copy of the NOC with a fully integrated questionnaire and a network submitted. Again, it was necessary to sign a physical optimized to upload documents on the go. The document to complete verification. solution is scalable enough to accommodate other loan The Bank sought an alternative to this laborious and products in future. time-consuming process. It decided to replace the The Bank has reaped several benefits, including process physical PD sheet with one on a mobile app that could improvement, fraud reduction, and better credit be customized based on product and customer profile. decision-making. This reduced the transit time to zero because both the PD report and documents could be directly uploaded 9,684 cases for all auto and used loans are processed to Omnidocs (central file server). The erstwhile manual each month on average through the APS. The time processes for personal discussion and seller verification saved per case is 10 minutes, translating into a monthly became paperless. time saving of 96,840 minutes. Annual savings in resource costs amounts to about 3.8 million.

44 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS India’s largest bank, State Bank of India (SBI), was The implementation had to deal with a great deal of carrying out several End of Day (EOD) and Beginning of complexity and diversity on account of different time Day (BOD) activities manually by executing line-by-line zones, unique workflows in different offices, multiple commands, in its 26 foreign offices. The Bank was keen SOLs and even different EOD for Finacle Core and to transform these manual processes into an end-to- Finacle Treasury. end orchestrated and totally automated workflow. It The AUTOSYS solution from CA Technologies was therefore launched a project for EOD automation. integrated with the Finacle suite comprising Finacle Core and Finacle Treasury.

NRISR, a Java-based application with Oracle 11g DB was used. The automation solution was integrated with SWIFT and treasury applications. INNOVATION BENEFITS EOD Automation delivered several benefits to SBI. It was now possible to centrally monitor all the EOD operations through a single dashboard. Managing multiple workflows became much easier because new business processes were added and obsolete ones deleted.

All EOD processes were automated, reducing the “EOD time window” for each country and improving turnaround time. The Bank could therefore redeploy some staff in more productive jobs. The overall improvement in the efficiency of EOD operations lowered the stress of employees managing multiple EODs.

46 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS At Kotak Mahindra Bank, activating a savings account Android-based tablets were issued to field staff. Web used to take 4 days because the documents had to based for Back Office users using Apache, Tomcat . Real- be physically sent to a processing center. The ageing time integration for PAN verification was achieved using of leads would only become apparent once the forms TIBCO Business Works. An Oracle Database was used. were handed in. On top, there was a cost and risk to sending documents through courier. Because the INNOVATION BENEFITS concerned personnel only communicated on email, The project brought many benefits to Kotak there was virtually no tracking of documents, which Mahindra Bank. The speed of account opening went impacted the turnaround time even further. The load up dramatically. Data was transferred instantly to was not optimally distributed between the various operations, and exceptions were also resolved instantly. processing centers, which meant capacity went There was no re-data entry at the back-end. underutilized. The solution provided an effective lead management The Bank decided to improve this entire process of system, which extended the lead pipeline and savings account activation through digitization and prioritized leads. automation. The implementation was innovative for Also cross-selling rates improved by bundling products several reasons: it enabled tab-based data and image through a common application. capture of supporting documents, built Mobile Device Management into the solution itself, achieved real-time integration with NSDL for PAN verification etc., enabled electronic document verification and load distribution at Operations compared to branch – RPC mapping

47 I External Document © 2017 EdgeVerve Systems Limited PROJECT MANAGEMENT WINNERS United Bank for Africa for clustered roll outs to achieve multi- country, multi-lingual upgrade of Finacle solution across 19 countries in shortest span of time

48 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS United Bank for Africa (UBA), a leading pan-Africa There was extensive use of FSDP tools (Finacle Solution banking group with operations in 19 countries and Delivery Platform) for migration and customization branches in London, Paris and New York embarked on deliverables. UBA, Infosys and CWG (the local business a major systems upgrade to simplify processes and partner of Infosys) worked as one team to accomplish significantly improve customer experience across all the mission. channels by leveraging the multi-entity and multilingual It was decided to do clustered rollouts of features of Finacle 10.2.16. This was a complex project implementations across countries and languages in involving a phase-wise big bang upgrade across the order to complete the project in the shortest time Bank’s operations. possible. This involved creating clustered teams with Some of the complexities in this implementation multiple responsibilities working on several countries included migrating a 14TB DB for Nigeria alone, simultaneously, where often each country was in a migrating 5000+ customizations, multilingual different phase of implementation. deployments (English, French and Portuguese), and The technology used included an Oracle Golden Gate training more than 12,000 end users across geographies data replication tool to replicate data from 7.x CSIS to on the new system. 10.2.16 CSIS, which ensured zero downtime of channels. INNOVATION BENEFITS There was considerable saving of time and cost by achieving parallel rollouts in a record 25 months. Continuous delivery of customization porting line items ensured minimal defects were raised during the SIT/ UAT/rollout phases.

50 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS The customization involved porting about 2,351 sources to the new version. More than 500 processes ICICI Bank, which was using Finacle Core Banking covering close to 25,000 test cases were meticulously version 7.4.10 to manage its day to day banking tested for 3 rounds. Functional testing was first done activities for different countries, decided to upgrade on a blank database without any migrated data. Once to version 10x for its enhanced technology and new functionality was stabilized, migrated data was tested features, such as 24x7 architecture for extended for all functionality again for 2 rounds. operations, SOA, Finacle Integrator, Enterprise CIF and Signature Management etc. Between April 2015 and The project had to ensure that about 30 interfaces August 2016, the Bank migrated 3 geographies from plus many downstream and upstream systems worked version 7.4.10 to 10.2.12 and did a new implementation seamlessly in tune with the new architecture. More of Finacle 10.2.12 in another 3 geographies. than 15 mock migrations were conducted to fine-tune and make the process of migration faster, efficient and INNOVATION HIGHLIGHTS foolproof. The team carried out mock runs to make sure IThe migration was complex, involving a great deal that the migration window of 14 hours was met. of customization. OHS and Weblogic servers were Several activities pertaining to different phases introduced, and 24x7 channel transactions were – Migration, MIS, Consistency Reports, User enabled. The implementation had to work with 106 Training, Performance Testing, Audit & Compliance MIS reports, about 85 consistency reports, and 31 Documentation – were conducted in parallel. interfaces and sub-systems. This was the first ever 7.x to 10.x database migration containing multi byte data, Users from various teams were trained by insisting that i.e. German characters. It was also the first hybrid CBC each one post 10 transactions daily for 15 days. implementation in Germany, where a few channels were connected to CBC 7.x and others to CBC 10.x. INNOVATION BENEFITS Despite the complexity, the Bank was very keen to Cashless Pay on Delivery is expected to boost Internet minimize downtime. Accordingly the data migration Banking transactions and competitive advantage for strategy was broken down into several parts and the ICICI Bank. Customers also benefit because they only project was completed in 103 days, from UAT release till need to pay once they receive the goods. go live. The Bank invested in additional hardware and network capacity and transformed the environment with an eye on future growth.

51 I External Document © 2017 EdgeVerve Systems Limited PROJECT MANAGEMENT RUNNER-UP MauBank for technology transformation after the merger of Mauritius Post and Cooperative Bank (MPCB) and National Commercial Bank (NCB).

52 I External Document © 2017 EdgeVerve Systems Limited INNOVATION DRIVERS INNOVATION HIGHLIGHTS The Government of Mauritius formed MauBank by First of all, the implementation had to upgrade the merging Mauritius Post and Cooperative Bank (MPCB) hardware to accommodate both banks. Oracle 11c was and National Commercial Bank (NCB) in January upgraded to version 12 and Java JDK from version 1.6 to 2016. Prior to merger, NCB and MPCB were running 1.7. Upgrade WAS 7.5 to 8.5.5 on different versions of the Finacle Universal Banking A new, certified cut of Finacle of the highest version platform. The Bank wanted to integrate both systems (Core, ebanking, Mobile, FAS & Treasury) was used for in the minimum possible time without comprising the above platform, which had to be interfaced with the customer experience. It also wanted to ensure that two systems being switched customers of both banks enjoyed a similar experience in the new system. A 6-month timeline was agreed to for this implementation. INNOVATION BENEFITS The merger, which was racing against time and several other challenges, was successfully completed two months ahead of schedule thanks to strong project management. Branches and operational processes were successfully rationalized, regulatory reporting was streamlined and automated, IT infrastructure and bank resources were optimized and services were enhanced as a result of the new platform.

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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