Infosys to help banks enhance support and service to SMEs

BANGALORE, INDIA: Infosys, has announced the launch of the Finacle SME Enable to help banks enhance support and service for their small and medium business enterprise (SME) customers.

The  mobile-based financial and business management solution is exclusively designed to help SMEs not only experience banking services on the move, but also manage their business operations efficiently.

· SME Enable is a unified application for both banking and non-banking services aimed at helping SMEs run their businesses efficiently

· SME Enable will provide a bank’s SME customers real-time access to their account information and relevant financial management tools to manage their day-to-day business operations in a self-service mode

· The solution will enable SMEs to grow their businesses through a host of features such as enterprise setup, automated banking transactions in supply chain, credit management, social connect, integrated alerts/analytical tools for financial management, and channels to seek expert advice

· Integration of the Infosys TradeEdge, a cloud-based retail trade platform, with SME Enable will help SME clients obtain complete visibility into their inventories and sales transactions, along with seamless integration of banking services

· For SME customers, this solution will enable a high degree of self-service and efficiency. For a bank, this will mean a significant reduction in time and effort required to serve their SME customers, while gaining an opportunity to build deeper relationships

Michael Reh, Senior Vice President and Global Head, Finacle, Infosys: “SMEs today constitute a significant share of gross domestic product (GDP). Convenient banking services as well as agile and cost-efficient operations are key growth drivers for this segment. Banks have a great opportunity to gain a loyal customer base in this segment by providing relevant digital banking solutions, along with an integrated support for their business needs. Finacle SME Enable fits right into this niche and can be a game changer for banks.”