A trainee banker’s view on Finacle

Finacle is Infosys’ best selling software for core banking solutions. It has won a lot of prizes for it. It is quite a hit amongst banks. I am not a tech person so I cannot get into its technical details but I can tell you how it is used in day to day functions in a bank.

The software is fairly easy to use. You need to login with a user id and password like any other banking solutions program

When you go into a branch do you ever wonder what the executive or relationship manager or personal banker does behind that screen?

How do you check someone’s bank balance in finacle?

You type in acli in the bottom left hand corner screen in the menu options screen. It stands for Account Ledger Inquiry. Then press enter. It will take you to another screen where you have three boxes.

In the first box you need to mention the account number and you have other two boxes for the start and end date. By default the dates mentioned in both the boxes are the date of the present day.

Just typing in the account no. and enter will just give you the name, address, phone and email of the account holder. Then type F4.It will take you to a screen where you will see the debits and credits of the present day and the remaining account balance. To see your past transactions in the account, press ESC to go the previous screen and type in the dates of the Days when you want to see the transactions. For example, today is 01-08-2012 and I want to see the transactions between 01-07-2012 to 30-07-2012. So by entering these dates and pressing F4 will show me all the debits and credits in these dates and the balance as on 30-07-2012.

Now back to the first screen of acli when you type in the account no. let the the cursor(the blinking line) stay in that particular box. Then press Ctrl+E (called expand). It will take you to a screen which will give you basics details of the account and account holder including the unique Customer ID no. Every customer in a bank has a unique Cust Id. This is useful for tracking all the customers accounts, since a customer has many accounts. This is a useful tool for KYC (Know your customer) and AML (Anti-money Laundering) guidelines which banks need to follow. Money Laundering is conversion of black money earned from nefarious activities like drugs, trafficking, terror, extortion, tax evasion, etc. into white money.

There is a small box on the bottom of the right giving sub menu options denoted by an alphabet. There are many but I will write only about three. First is A i.e. account holder details. Typing A and press F4 will take you to a screen where details of all the account holders are mentioned one by one. On that screen only the first account holder is mentioned for the second you need to press the down key and same for the rest. And up key to go back to the previous account holder.

By pressing Ctrl+E for any of these account holders will take you to a screen giving all details entered of the account holders. The first screen apart from the normal details like address and contact details gives birth date, date when the account was opened, classification of the account and whether the ISA was updated.

Another menu in finacle is transactions maintenance TM. It is used to transfer funds from one account to another. For example when a banker receives a cheque he first checks whether there is any apparent tampering done to the cheque. Then he types TM in the menu screen and press enter. First type in the account number of the holder of the instrument the put d in the small box next to it to debit his account, then type in the name of the beneficiary, type of instrument amount, and date of the instrument then press F9 to check his signature and photograph and press F4. Now type in the beneficiary’s account number, the amount and C to credit his account. Then press F4 and F10.

There are many features of this software. These are just the basics. Try it and see.

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