Finacle, part of EdgeVerve Systems, a product subsidiary of
- Comprehensive research was conducted by Goldman Sachs to understand consumer preferences around unsecured lending and borrowing priorities. Marcus then used these insights to design differentiated consumer lending products on the Finacle solution.
- Marcus is now able to deliver extensive self-service capabilities on digital channels to design truly personalized products. The system will give end-consumers the flexibility to choose lending terms such as repayment amount and tenor.
- Marcus has designed and built modern technology operations by ensuring straight-through-processing across digital channels to the Finacle solution. Leveraging Marcus' technical architecture, the Finacle solution optimised using the RESTful APIs and process orchestration capabilities.
- The entire program was completed in just eight months, leveraging the agile implementation framework and the pre-configured US-compliant Finacle Core Banking Solution. The solution provided out-of-the-box compliance for federal and state regulations, thus removing the potentially high cost and lengthy timeline of building a fully-functional, compliant technology platform in-house.
- The Finacle solution provides a 24/7, real-time, scalable platform which has helped to enable Marcus to create products, open accounts and manage the entire loan-servicing lifecycle, including payments, whilst ensuring a superior customer experience.
- Finacle's open architecture, integration capabilities and scalability seamlessly aligned and became part of Goldman Sachs' wider ecosystem of enterprise applications.
"Marcus by Goldman Sachs is displaying exemplary vision in creating new business opportunities by leveraging modern technology. With the Finacle solution, a real differentiated capability has been achieved by delivering personalized offerings and providing a customer experience to compete with traditional banks and new-age alternative lending providers. The implementation once again reiterates Finacle's industry strengths to enable fast and low-risk digital transformation for financial institutions."
"With the successful deployment of the Finacle Core Banking Solution we have the agility to respond to customer needs, the scalability to adapt with market requirements while providing the superior customer experience required in today's competitive digital age."
About Marcus by Goldman Sachs
Marcus by Goldman Sachs (http://www.marcus.com) provides products to help people manage their finances. The first product from Marcus is a fixed-rate, no-fee unsecured personal loan that enables customers to tailor their monthly payment options to fit their schedule and budget. Marcus, a brand of Goldman Sachs, benefits from the firm's 147-year history of financial expertise, risk management and customer service.
EdgeVerve Systems, a wholly owned subsidiary of
Today EdgeVerve products are used by global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecom.
Finacle, part of the product company EdgeVerve Systems, a subsidiary of
To know more, visit http://www.edgeverve.com
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in