Lending
Complex products are designed around mortgage and lending, with parameters like fixed & floating interest rates, installment amount, term and method of calculation. Finacle finanz tools excel in depicting scenarios using these parameters. These tools can be engaged to determine eligibility and lending limits, in addition to illustrating repayment and complex products with dual interest rates.

While lending is often fundamental to a bank’s business, the struggle to sustain long-term growth in this vital niche has never been more difficult.

Although the bank’s products and packages may offer substantial innovations and advantages, getting the customer to understand and appreciate these remains a challenge. Finacle finanz tools can be leveraged to demonstrate personalized illustrations, engage customers and convert more enquiries into qualified leads.


Deposits
Mobilization of funds through savings and deposits is a primary focus for banks. The rewards of saving regularly through the bank’s products can be convincingly illustrated using Finacle finanz tools. Interest computations for these products can be optimized to attract customer attention. Some finanz tools frequently used for this purpose include the compound interest illustrator, savings budget planner and deposit interest illustrator. They help customers choose savings products best suited to their needs. It is not uncommon for banking customers to lock funds in low yielding products. Finacle finanz tools can be deployed to illustrate the benefit of moving funds to higher yielding products.


Credit Cards
Finacle finanz tools help banking customers understand various offerings in the credit card space and choose the ones best aligned to their needs. These tools help in planning credit card repayments, analyzing impact of transferring balance from other credit cards and studying implications of changing credit cards. Increasingly customers are seeking to understand the long term advantages of credit card products. Finacle finanz tools are an invaluable resource for the bank’s sales force to convincingly illustrate the benefits of the bank’s credit card offerings.


Wealth Creation
Clients approach banks for advice on wealth creation using various instruments of investment. Typically these are long term goals and customers require help in analyzing future scenarios, considering various interplaying parameters. These long term investments provide banks opportunities to sell products and services that ensure revenues over longer time spans.

Finacle finanz tools can assist the bank in maximizing these opportunities. The goal seeker can help chart the path to achieve financial goals within a predefined term.

The retirement planner can help determine the balance of assets and liabilities required to reach a stated retirement objective. Finacle finanz tools can also project income that can be generated from investment in properties and other products.


Insurance
Multiple events trigger a client’s insurance purchase behavior. These events are opportunities for banks to help customers evaluate risk and define corresponding mitigation strategies. The impact of risk can be illustrated using Finacle finanz tools. This provides ample opportunity for the bank to cross-sell products and increase customer ‘stickiness’, as well.


Business Needs
As banks launch new offerings of increasing complexity, creating end-consumer understanding of these products is becoming a significant challenge. Banks need innovative tools like hire-purchase calculators to help illustrate these finance options. With banks selling third party products, this need is accentuated. In addition, is the mandate to demonstrate advantages like tax-efficiency of these offerings. The real-time product simulations that Finacle finanz tools can create can prove invaluable in such a scenario.