HDFC Bank Deploys Finacle Wealth Management Solution to Modernize Operations

HDFC Bank Deploys Finacle Wealth Management Solution to Modernize Operations​

Infosys Finacle has successfully implemented its Wealth Management Solution for HDFC Bank, enabling the bank to execute major digital transformation initiatives across its domestic and offshore operations. This deployment replaces legacy systems that relied heavily on manual processes with a modern, API driven solution designed to streamline various wealth management activities and integrate multiple internal systems.

The new platform aims to accelerate innovation, provide broader product coverage, and allow for the scalable delivery of personalized services, ultimately enhancing client experiences and improving operational efficiency for relationship managers at HDFC Bank.

Key features of the Finacle Wealth Management Solution include:

• Asset Class Coverage: The unified platform supports 12 asset classes, covering mutual funds, fixed income securities, private equity, structured products, insurance, held-away assets, and alternate funds.
• Risk and Planning Tools: Advanced tools for risk and goal planning are incorporated into the solution.
• Margin Lending Enhancement: The digitized margin lending feature facilitates real-time collateral checks and smart risk controls, leading to faster approvals and precise valuations.
• Client Engagement: Enhanced client engagement is facilitated through tailored advice options, multi-currency portfolios, and a comprehensive workbench for relationship managers managing transactions and reporting.
• Ecosystem Integration: Seamless integration with the banking ecosystem supports real-time deal settlements, automated corporate actions, high volume transaction processing, and utilizes over 350 APIs to drive agility and cost savings.

Rakesh K Singh, Group Head - Private Banking, International Banking, Financial Institutions and BaaS at HDFC Bank, commented on the initiative, stating that Finacle has helped modernize wealth management with a unified, digital-first platform. He noted that the solution automated key operations across bonds, mutual funds, and margin lending, empowering relationship managers with real-time insights to adapt swiftly to regulatory changes and deliver differentiated value in the evolving wealth management landscape.

Sajit Vijayakumar, Chief Executive Officer of Infosys Finacle, expressed pleasure over the collaboration, noting that the move consolidates HDFC Bank's domestic and international wealth operations onto an advanced platform. He stated that the solution is aimed at improving client engagement and supporting rapid growth as leading institutions adopt digital solutions in India's significantly transforming wealth management sector.

Infosys Finacle, a unit of EdgeVerve Systems (a wholly owned subsidiary of Infosys), provides industry-leading digital banking solutions. The company partners with financial institutions globally through its cloud native solution suite and SaaS services to help them scale digital transformation across core banking, lending, payments, and wealth management requirements.

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