Automation of Advance Against Deposits Qorus-Infosys Finacle Banking Innovation Awards 2025

The menu option “LADCM” developed has capability to capture details of Self/Third party Deposits and automatically calculate Weighted Average Interest Rate and it also fixes margin requirement as per Bank’s policy. Opening advance against deposit involves multiple steps such as Collateral creation, Collateral Linking, Collateral Unlinking, Collateral Withdrawal. The lifecycle also involves maintenance of ROI, calculation of margin, weighted average ROI in case multiple FDRs are attached. The system also supports auto renewal of Overdraft facilities taken against Deposits. If there is any change in ROI of deposit linked to the loan account, the functionality for updating ROI of the loan account accordingly is also available in the menu option. The system shall also take care of the reduction of DP in case the FDRs linked are unlinked. The flexibility offered by Finacle 10 made the journey of customizing the innovative product possible in terms of Transaction creation, interactive UI design, Finacle services, JSPs, functionality of developing multirec in the custom menu. Being built on a java foundation, Finacle 10 leverages java technology for customization, uses java to create custom components. This also involves XML and SQL for backend customizations Going forward Usage of APIs for talking to the online loan application / processing portal for completing end to end processing is being worked upon.