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Goldman Sachs rolls out Infosys Finacle at Marcus

30 November 2016  |  3157 views  |  0 Source: Finacle

Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: INFY), announced that Marcus by Goldman Sachs has implemented the Finacle Core Banking Solution for its consumer lending operations.

Marcus, a brand of GS Bank, has deployed the Finacle solution to manage the complete consumer loan-servicing life cycle. The fully cloud-based model, hosted by Goldman Sachs, allows Marcus to achieve the necessary scale as well as provide enhanced functionality, business confidence and security to its consumers.

Highlights:
• Comprehensive research was conducted by Goldman Sachs to understand consumer preferences around unsecured lending and borrowing priorities. Marcus then used these insights to design differentiated consumer lending products on the Finacle solution.
• Marcus is now able to deliver extensive self-service capabilities on digital channels to design truly personalised products. The system will give end-consumers the flexibility to choose lending terms such as repayment amount and tenor.
• Marcus has designed and built modern technology operations by ensuring straight-through-processing across digital channels to the Finacle solution. Leveraging Marcus’ technical architecture, the Finacle solution optimised using the RESTful APIs and process orchestration capabilities.
• The entire program was completed in just eight months, leveraging the agile implementation framework and the pre-configured US-compliant Finacle Core Banking Solution. The solution provided out-of-the-box compliance for federal and state regulations, thus removing the potentially high cost and lengthy timeline of building a fully-functional, compliant technology platform in-house.
• The Finacle solution provides a 24/7, real-time, scalable platform which has helped to enable Marcus to create products, open accounts and manage the entire loan-servicing lifecycle, including payments, whilst ensuring a superior customer experience.
• Finacle’s open architecture, integration capabilities and scalability seamlessly aligned and became part of Goldman Sachs’ wider ecosystem of enterprise applications.

Sanat Rao, Chief Business Officer and Global Head, Finacle:  “Marcus by Goldman Sachs is displaying exemplary vision in creating new business opportunities by leveraging modern technology. With the Finacle solution, a real differentiated capability has been achieved by delivering personalised offerings and providing a customer experience to compete with traditional banks and new-age alternative lending providers. The implementation once again reiterates Finacle’s industry strengths to enable fast and low-risk digital transformation for financial institutions.”

Boe Hartman, CTO, Marcus by Goldman Sachs (Digital Finance Technology): "With the successful deployment of the Finacle Core Banking Solution we have the agility to respond to customer needs, the scalability to adapt with market requirements while providing the superior customer experience required in today’s competitive digital age." 

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