MauBank, a leading bank in the Republic of Mauritius, has announced the bank’s successful adoption of Finacle’s Leasing Solution for its strategic leasing services business. MauBank’s leasing system will run on a single platformthat enables higher operational efficiency, reduced costs and anenhanced banking experience for its customers.
The merger of Mauritius Post and Cooperative Bank (MPCB) and National Commercial Bank (NCB) in January 2016created the new MauBank, which is powered by Infosys Finacle Solutions that includes Core Banking, Online Banking, Treasury and Alerts. Furthermore, NCB’s subsidiary Mauritius Leasing Company, offering leasing products, was also integrated into MauBank and the Finacle Leasing Solution was chosen to replace its earlier legacy third-party platform.
- The implementation was completed in 10 weeks, with zero impact on ongoing customer services
- The bank has increased operational efficiency by over 40 percentwith the optimization of processes throughthe Finacle Leasing Solution
- With the new solution, the bank has eliminated duplicate systems and unifiedvarious components, achieving a 20 percent saving in maintenance costs
- Automation of processes like statement generation, late fee computation and reconciliation, among others, haveresulted ina significant drop in human error and person dependencies
- Integration of the new leasing solution with rest of the enterprise applicationshas ensured consolidation and optimization of customer data into a single source. This supportsfaster resolution of customer requests and enables the bank to make targeted offerings, thereby improvingthe end customer experiencesignificantly
Sanat Rao, Chief Business Officer and Global Head, Infosys Finacle:
“Simplifying the technology footprint is a critical step in renewing legacy systems and moving towards atruly digitalbanking experience. Following the merger, MauBank has been very progressive in its decision to consolidate and modernize its banking systems. The latest step towardsa unified platform for their leasing services will ensurea sound technology foundation for the bank, enabling growth, profitability and a smarter banking experience for its customers.”
Sayyad Khodabocus, Head – IT Applications, MauBank:
“MauBank is committed to being the most progressive and preferred bank in Mauritius. Our aim of ensuring world-class banking services along with industry leading growth, is tied to consolidating our operations on best of breed banking platforms. We believe the Finacle Leasing Solution will help us scale our leasing operations and boost productivity, thus positioning the service line as a key business driver.”