A flexible core makes any kind of transformation – big bang switchover, or progressive deployment – simpler and faster, and supports all strategies, including comprehensive digitization, bank-in-a-bank, and digital-only bank. However, this must be achieved in parallel with adopting a solid approach for risk mitigated transformation.
The key three pillars of Finacle’s risk mitigated transformation approach are:
- Reference bank models
- Reference bank models for emerging and developed markets, packaged with global best practices, innovations, and localized solutions, enable implementation in record time.
- Localization components built on top of the base product support regional requirements, for example, both federal and state requirements in 50 states in the U.S.
- Progressive deployments and upgrades
- The component design offers customers the flexibility to pick and choose system components, for example only the Finacle retail banking solution or a single module such as demand deposits.
- Business priority mapping and value realization models continually assess transformation progress and outcomes
- Agile delivery model
- Designed to help banks practice agile implementation, wherein they can quickly deploy only the components they need at first and enhance them later as required.
- Provides the capability to do continuous integration and continuous deployment.
