Punjab National Bank (PNB), India’s second largest Public Sector Bank and Infosys, a global leader in consulting, technology and next-generation services, have announced that PNB has rolled out Finacle Payments solution across all its 6800 branches and its five sponsored Regional Rural Banks (RRBs). With this implementation, PNB has become the first bank globally to deploy Finacle Payments version 11. The solution provides PNB comprehensive benefits of an enterprise payments hub – enhancing operational efficiencies and ability to deliver superior customer experience through value-added services and tailored payment offerings. Also Read – I-T issues 17-point checklist to trace unaccounted DeMO cashMD & CEO PNB GauriShankar said: “Payments is possibly the fastest evolving area in the whole gamut of banking. With more and more payment schemes working in time bound manner, there is a need to have a highly scalable payment solution. The Finacle Payments solution brings in a robust, scalable and future-proof platform to support both online and file-based processing with a high degree of Straight Through Processing (STP).”With RTGS facility already implemented through the solution, PNB has planned to extend other payment schemes like NEFT, SWIFT, NACH and IMPS through this platform in a phased manner. The Finacle Payments solution has replaced multiple systems, resolving the challenges related to reconciliation, manual interventions and maintenance across the various legacy systems. The new solution will manage end-to-end payments lifecycle and processes, regardless of originating channels, and back-end applications. Also Read – Lanka launches ambitious tourism programme to woo Indian touristsIt provides PNB with an enterprise wide engine with multi-product, multi-channel and multi-currency capabilities. This allows PNB to bring down the operational costs and time to compliance, while gaining better control, transparency and visibility across payments life cycle. Also successful implementation of the solution will enable the bank to offer tailored payment services to different customer segments, with relationship based pricing, and personalised rule-based process flows.