Finacle Reviews & Product Details

Finacle is a comprehensive universal banking solution developed by Infosys, designed to assist financial institutions in transforming their operations and delivering superior customer experiences. With its componentized architecture, Finacle enables banks of all sizes to modernize their systems progressively, minimizing risk while enhancing efficiency. The solution's enterprise-class components support a wide range of banking functions, facilitating seamless integration and improved service delivery across multiple channels. Key Features and Functionality: - Componentized Structure: Allows banks to select and implement specific components based on their unique needs, enabling targeted modernization efforts and the ability to reach new customer segments effectively. - Product Factory Capabilities: Empowers financial institutions to design and launch new products within weeks, significantly reducing time-to-market and fostering innovation. - Enterprise-Class Components: Includes advanced modules such as Payments (an ISO 20022-based services hub), Multichannel Framework (ensuring seamless customer navigation across channels), Offers and Catalog (facilitating instant offer publication), Liquidity Management (for corporate customers to optimize liquidity), Loan Origination (managing the complete credit lifecycle), and Dashboards (providing configurable, role-based consoles for enhanced productivity). - Ready-Made Integration Adaptors: Ensures compliance with industry standards, leading to shorter deployment cycles and reduced project costs. Primary Value and Solutions Provided: Finacle addresses the complexities of banking transformation by offering a simplified, phased approach to modernization. Its componentized nature allows banks to prioritize and implement changes that deliver immediate benefits, thereby improving the business case for core system upgrades. By breaking down technology silos and eliminating redundant applications, Finacle reduces operational costs and streamlines processes. Additionally, its robust security framework ensures the protection of sensitive data, while its scalability supports the growth and expansion of banking services. Overall, Finacle equips financial institutions with the tools necessary to enhance customer engagement, drive innovation, and achieve sustainable growth in a competitive market.

Seller

Infosys

Discussions

Finacle Community

Solution Type

All-in-One

Value at a Glance

Averages based on real user reviews.

Perceived Cost

$$$$$

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User Insights

Average based on 37 real user reviews.

Perceived Cost

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G2 reviews are authentic and verified.

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Verified User in Banking

Enterprise (> 1000 emp.)

7/7/2021

"An Amazing Core Banking Solution Product that guarantees Results"

4.5/5

What do you like best about Finacle?

-One of the reliable software for all banking solutions.

-All the data is available in just one click.

-The reports help to analyze the client's overall relationship.

-It is robust software for performing multiple operations.

-It helps to save time.

-Enhances individual performance and banking efficiency.

-Complete Access to a user helps in viewing individual account information.

-It helps the bank to manage the complete credit cycle.

-Improves business outcomes and reduces the risks.

-Tracks the compliances very easily Review collected by and hosted on G2.com.

What do you dislike about Finacle?

-It's difficult to customize the software according to the needs of the firms.

-It cannot be easily integrated with other banking solutions.

-Complexity of commands present in the software makes it difficult for the new users.

-It takes long time for the technical issues to get resolved.

-Extraction of data is difficult.

Integration of old data is time taking.

-Maintenance cost is very high. Review collected by and hosted on G2.com.

Recommendations to others considering Finacle:

It would be helpful for new users if the commands would be less complex.

Integration with other banking solutions should be allowed.

Technical issues should be resolved quickly. Review collected by and hosted on G2.com.

What problems is Finacle solving and how is that benefiting you?

-It provides all banking solutions under one roof.

-It helps in managing complex banking services.

-Technological integration has changed the way of business banking in a positive manner.

-Provides quality solutions with minimum disruptions.

-All the database is stored in one software which helps in customer analysis.

-Helps in decision making process

-Reports help in the planning of new products and services based on customers data.

-It is fast and reliable.

-It has well defined work flows.

-Multi Currency Banking Solution. Review collected by and hosted on G2.com.

Verified User in Banking

Enterprise (> 1000 emp.)

7/14/2022

"EXCELLENT SOFTWARE FOR FINANCIAL TRANSACTIONS"

4/5

What do you like best about Finacle?

NEFT, RTGS, INSTA BANKING IS HANDFREE. S Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Little bit slow while doing the transaction and logging in Review collected by and hosted on G2.com.

John K.

Mathematician, Financial Analyst

Enterprise (> 1000 emp.)

10/14/2021

"Best core banking software in the market."

5/5

What do you like best about Finacle?

The tool has multiple menu options and functions that assist in the growth of the business. Finacle is used both in retail banking and credit banking without fail. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

There is nothing that I dislike about the tool. Review collected by and hosted on G2.com.

Tarun S.

Analyst

Enterprise (> 1000 emp.)

7/24/2021

"Could be made more user friendly"

4/5

What do you like best about Finacle?

This software is beneficial in maintaining detailed consumer banking data. It is easy to use and helps in the quick retrieval of data. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

The user needs to remember many commands to use the software. There are 6--70 commands which are difficult to remember. Review collected by and hosted on G2.com.

Recommendations to others considering Finacle:

This is a useful software for maintaining the consumer banking data and helps in generation of MIS reports Review collected by and hosted on G2.com.

What problems is Finacle solving and how is that benefiting you?

I usually need the consumer banking details daily to check the banking compliance. This software helps in the quick retrieval of real-time data. It also helps in generating various MIS in the banking system. Review collected by and hosted on G2.com.

Krishna S.

Financial Sales Manager

Enterprise (> 1000 emp.)

12/17/2020

"Finacle"

5/5

What do you like best about Finacle?

It helps in Banking software most of banks using this software for doing customer transaction, it is Reliable to do easy transaction. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Technical error have been seen, while doing entry hanging problem face in this due to low Network. Review collected by and hosted on G2.com.

Recommendations to others considering Finacle:

It is best Banking tool to use. Review collected by and hosted on G2.com.

What problems is Finacle solving and how is that benefiting you?

It helps to do customer banking transactions.

1.RTGS/NEFT

2.Cash Deposit

3.Cash Withdrawal

4.Passbook issue or Passbook Entries.

5.Statement Generation

6. BOD and EOD reports Generation. Etc. Review collected by and hosted on G2.com.

Verified User in Banking

Enterprise (> 1000 emp.)

1/18/2021

"Clean user interface, efficient and easy to understand"

4.5/5

What do you like best about Finacle?

I worked with Finacle for years and it is very simple and efficient software to work with. The user interface is good and the system runs smoothly without any lag. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Sometimes the server is down which creates a lot of problems for banking transactions. Occasionally user may get block due to system glitch thus a co worker need to unblock the block person Review collected by and hosted on G2.com.

Recommendations to others considering Finacle:

Good to use, overall experience in using the system is nice and smooth. Technical support if required is available. Review collected by and hosted on G2.com.

What problems is Finacle solving and how is that benefiting you?

In Banking Transactions it is very fast Can process bulk transactions Very systematic and clean interface, overall a good application. Review collected by and hosted on G2.com.

Pratik D.

Assistant Manager Credit

Enterprise (> 1000 emp.)

1/17/2021

"Best user friendly, fast and efficient software for banking"

5/5

What do you like best about Finacle?

The shortcut menus are very well designed and it is very easy to toggle between two different modules while working. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Very often the system freezes and it is frequently overloaded Review collected by and hosted on G2.com.

Verified User in Banking

Enterprise (> 1000 emp.)

11/16/2020

"Best in class core banking solution"

3.5/5

What do you like best about Finacle?

Modular architecture and ease of improvement in functionality. Availability of all essential modules for all banking functions assets, liability, trade financing. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Some modules are not working best if we go for few selective modules considering the tight budget. Always prefer to buy all relevant modules Review collected by and hosted on G2.com.

Teena G.

Mobile Apps Developer

Enterprise (> 1000 emp.)

9/20/2019

"User Friendly Digital Banking Application"

4/5

What do you like best about Finacle?

It is Easy to Use application. Auto guidance is the best feature of it. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Training is required initially to work on it. Without training, a normal personal cannot work on it. Review collected by and hosted on G2.com.

Verified User in Information Technology and Services

Enterprise (> 1000 emp.)

4/24/2019

"Finacle is a mistake that is wrapped in a Java 7 applet-based IE-dependent web application"

0/5

What do you like best about Finacle?

Finacle helps in slightly modernizing workflows that were originally developed within a mainframe context.

Slightly.

In particular, Finacle's idea of upgrading from the mainframe paradigm is similar to the undertakings done by various free/libre/open source and proprietary software to create an HTML-based UI for existing green screens.

One malus that Finacle has, compared to its competition, is its ability to somehow take away the one advantage a green screen (and a possibly HTML 5-ized view thereof) has: speed through simplicity. Review collected by and hosted on G2.com.

What do you dislike about Finacle?

Finacle is dependent on Java 7, with no support for later versions.

Please note that Java 8 is the last long-term-support Java version to support applets.

Please note that, if the applets that drive Finacle have been developed within standards, then said applets should have worked in Java 8.

You know, the version that has security updates?

Incidentally, Finacle only works in Internet Explorer, which is admittedly the last, and at this point, the only browser that supports Java applets.

This bad combination of technologies could have been easily justified if the resulting functionality it has introduced to Finacle is at least on par with its hoity-toity HTML 5-driven brethren.

(It's not.)

In particular, the main reason why applets are even used by the process seems to just be the following:

* To allow for securing the application, which, in retrospect is counterfactual, since an HTML 5 site delivered via HTTPS with proper auditing in its Javascript would provide better security, user-friendliness and ease of development.

(Applets are not safe, hence the removal of their support from every browser whose acronym cannot be pronounced as a scream for help. IE. Aieee.)

* To allow for pop-ups to appear when additional login information is required, even though IE supports pop-ups.

* To allow for querying information as you type them in a field, which is supported by every browser. In particular, the underlying technology behind it (XMLHTTPRequest) existed in IE _first_. Review collected by and hosted on G2.com.

Recommendations to others considering Finacle:

Please don't use Finacle. Review collected by and hosted on G2.com.

What problems is Finacle solving and how is that benefiting you?

Finacle has been a significant source of problems in our workplace, due to the aforementioned problems with its performance, stability, and all-around user hostility.

That being said, since we were automating Finacle in the first place, most of the problems are at this point experience not by the poor, poor employees of the organization, but are in fact experienced by the the poor, poor robot (yes, singular) tasked by everyone else to handle Finacle in all of its finicky glory. Review collected by and hosted on G2.com.