To power the personalized advisory services such as financial planning and investment products along with retail banking services for High NetWorth Individuals (HNWIs) and prosperous customers, Infosys has launched the latest version of its Finacle Wealth Management Solution.
A recent Ovum study showed that HNWIs and mass affluent customers are among the fastest- growing segments for banks. The study also estimates that the HNWI banking and financial planning segment will grow by 7.5 per cent between 2011 and 2016. The mass affluent financial planning segment is slated to grow by 7 per cent in the same period.
Haragopal M, Global Head, Finacle, Infosys, said, Banks can no longer ignore the growth potential that highly profitable segments like HNWIs and mass affluent customers offer, nor can they meet the needs of this segment without delivering a unique, customized experience. The enhanced Finacle wealth management solution will enable banks to offer a personalized advisory service, providing the differentiation necessary to compete in this lucrative market.
The latest version of Finacle wealth management solution helps the banks to customize and release products quickly to address the changing needs of their retail and investment banking customers. A detailed advisor dashboard embedded in this solution provides an insightful, 360-degree view of each customer’s net worth, assets and liabilities. This helps banks offer personalized products and services to HNWIs and mass affluent customers and increase wallet share within this segment.
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