About DoP and Finacle
For more than 150 years, the Department of Posts (DoP) has been the backbone of the country’s communication and has played a crucial role in the country's socio-economic development. It touches the lives of Indian citizens in many ways: delivering mails, accepting deposits under Small Savings Schemes, providing life insurance cover under Postal Life Insurance(PLI) and Rural Postal Life Insurance (RPLI) and providing retail services like bill collection, sale of forms, etc. The DoP also acts as an agent for Government of India in discharging other services for citizens such as Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) wage disbursement and old age pension payments. With 1, 55,015 Post Offices, the DoP has the most widely distributed postal network in the world.
New Delhi, India - August 9, 2012: Infosys, a global leader in consulting and technology, today announced that it has been selected by the Department of Post, Ministry of Communications and Information Technology, Government of India for a mission-critical program that will enhance India Post's financial services across 150,000 post offices in the country. This is part of the 'India Post 2012' modernization program that aims at bringing transparency, agility, flexibility and scalability to India Post's operations.
Under the agreement, Infosys and India Post will embark on a transformational initiative, which encompasses Financial Services System Integration. This project, estimated at INR 700 crores, aims to transform India Post into a technology-enabled and autonomous market leader, by revolutionizing its financial operations and end-user services.
As Financial Services System Integrator, Infosys will implement and manage its flagship Finacle™ Core Banking and McCamish™ Insurance products to help India Post transform its banking and insurance operations - covering more than 200 million banking customers across urban and rural India; including a large base of insurance customers. Infosys will be installing 1,000 ATMs for India Post as part of this program to increase the effectiveness of its delivery channel and will also implement an electronic Content Management system to manage millions of documents generated as part of India Post's financial operations.
For the project, Infosys will support India Post in the following areas:
Complete System Integration including designing, building, supplying, installing and commissioning hardware and software
Data migration and deployment of the platforms and solutions across all identified post offices
Supporting multi-year managed services, application support and infrastructure operations
Training more than 35,000 India Post employees across the country on the usage and deployment of the new platform and solutions
Introduction about Finacle
Finacle is a core banking software package developed by Indian technology corporation Infosys.
It is used by multiple banks across several countries, it can handle multi-currency transactions. Several major customers of Finacle include Nadra Bank of Ukraine, ICICI Bank of India and Al Hilal Bank of the United Arab Emirates
Following Banks are using Finacle , The list is large but we brought you some of leading Banks using this Platform.
2. ANZ BANK,
3. ARAB NATIONAL BANK,
4. BANK DHOFAR,
5. CO-OPERATIVE FINANCIAL SERVICES,
6. CREDIT SUISSE,
7. DBS BANK,
8. EMIRATES BANK,
9. FIRST BANK OF NIGERIA,
10.HATTON NATIONAL BANK,
11. ICICI BANK,
12. NATIONAL AUSTRALIA GROUP EUROPE,
14. POSTBANK UGANDA LTD,
16. SOCIÉTÉ GÉNÉRALE
17. ZURICH FINANCIAL SERVICES.
19. NATIONAL COMMERCIAL BANK OF SAUDI ARABIA
20. MIZUHO CORPORATE BANK
21. FEDERAL BANK
22. BANK OF INDIA
23. BANK OF BARODA
24. ANDHRA BANK
25. PUNJAB NATIONAL BANK
26. UNION BANK OF INDIA
28. INDUSIND BANK
29. SBI INTERNATIONAL OPERATION
30. VIJAYA BANK
31. UCO BANK
32. ING Vysya Bank Ltd
33. Oriental Bank of Commerce
Department of Posts also added in this List. Now we are Using Finacle Banking software in our CBS Offices