Pepper and Rogers to boost Infy’s Finacle

BANGALORE: Infosys technologies' banking business unit announced today that it has engaged CRM strategy consultants, Pepper and Rogers Group to fine tune its recently launched Finacle CRM product to ideally suite the banking industry.

Finacle CRM is a banking specialty CRM solution specially designed for this vertical which covers end-to-end sales, marketing and support functionality with powerful interfacing capabilities to multiple systems like back office, treasury and telephony. Infosys plans to offer this as a stand- alone product and not tied to its Finacle core banking products.

According to Infosys, Head-Banking Business unit, "While banks and IT vendors always state customer satisfaction as their main reason for considering a CRM package, banks need to differentiate between managing customers for loyalty and managing customers for profit. In line with our vision, we are investing in Finacle CRM to introduce banking specific CRM scenarios".

Infosys is working with Peppers and Rogers Group to leverage their domain expertise to enrich its Finacle CRM. The scope of the study includes fine-tuning of the product to suit global market and assess the market potential of its CRM product. Based on this study, Infosys will refine their Finacle CRM offering and strategize accordingly. For Peppers and Rogers, Infosys is their first ever customer for studying product strategy.

Speaking on the occasion, Pepper and Rogers Group (Asia), Founder and Chairperson, Tim Tyler, said, " The major drivers of banking CRM software are personalized service, personalized products an relevance to customer needs, especially for high net worth individuals (HNWI). The number of HNWI in Asia has significantly increased and India stands in fourth in the APAC region with respect to the number of HNWIs after Australia, China and South Korea".

Speaking on the growing need for CRM in the Indian banking industry, Girish Vaidya, said, " With the growth of retail banking sector in the country, banks have realized the need for a CRM product to help them retain, manage and attract customers. However, banks have limited their expectations from a CRM product to just customer satisfaction. CRM can significantly improve the entire revenue structure of a bank driving profitable volume through multiple channels and services".

For Finacle CRM, Infy already has customers in National Commercial bank of Jamaica and UTI bank in India and for their new global initiative, they would be looking at South Asian market to begin with and gradually move to Europe and other markets.