Finacle Term Deposit Interest Calculator – A System-Driven solution Qorus-Infosys Finacle Banking Innovation Awards 2025

Axis Bank and Infosys Finacle successfully designed and deployed a first-in-market (for Bank’s which are on Finacle) system-driven Term Deposit (TD) Interest Calculator, which is based on the interest computation engine of Finacle Core Banking. This solution addresses a long-standing challenge of the bank by automating complex interest computations. TD interest calculator was a project initiated with a focus on optimizing customer experience with respect to TD interest calculation and there by resolving their queries on total maturity received. The goal is to establish systematic way of calculation of interest and TDS deduction so that it matches with interest certificate issued to customers.This ensures that the customer is able get the transparency wrt to system calculation and it helps to build the trust on bank. It has also increased the operational efficiency as branch users need not do the manual interest calculation which was prone to error.This initiative ultimately contributes to gain customer satisfaction, trust on bank and operational efficiency and thereby saving manpower efforts.