The IT giant, Infosys, announced the launch of its financial software solution, named ‘Finacle SME Enable Solution’ to assist the banks in improving support and services for their small and medium business enterprise (SME) clients. This mobile-based software is specially designed for SMEs. With the help of this solution, SMEs can take advantages of financial services on the go as well as they can manage their business effectively.
The SME Enable solution is a combined application to help SMEs find both banking and non-banking services suitable for their businesses. It will also provide the SMEs a real-time access to their bank account and the relevant financial management tools.
The financial app is expected to enable the SMEs to expand their businesses through a plethora of features such as automated banking transactions, enterprise setup, credit management, integrated alerts/analytical tools, social connect, and various channels to connect to industry experts. SME Enable is also being integrated with Infosys TradeEdge, which is a cloud-based retail trade platform, in an attempt to assist the SME clients in gaining complete discernibility into their sales transactions and inventories.
This solution is expected to provide a high quality self-service and efficacy for the SME client, while for the bank, it will reduce the time and effort to serve its SME clients.
The senior vice president and the global head of Finacle at Infosys, Mr. Michael Reh, stated that in current times, SMEs contributed for a significant share of GDP. Appropriate banking services coupled with efficient and cost-effective solutions are the major driving force behind the growth of this industry. By offering suitable digital banking solutions, banks can create a huge base of loyal customers in this industry.