Bajaj Finance Limited

Bajaj Finance Limited – CBS Transformation from Legacy to Finacle 10.2.18

Bajaj Finance Limited is one of the most diversified NBFCs in the Indian market which is catering to more
than 50 million customers across the country wanted to migrate to a flexible, comprehensive
and a stronger platform with respect to their Deposit Module from their legacy system.
Bajaj Finance zeroed on Finacle Core Banking Application for their above needs and partnered with
Infosys for implementation of the same. Infosys, in turn Supported BBSSL for taking up this
challenging task.
BBSSL, one of the major implementing partners of Infosys with 2 decades of experience was
partnered with Infosys in implementing Finacle CBS consisting of CRM, GL and Deposit
Module in Bajaj Finance Limited.
This implementation was unique in itself as Bajaj Finance Limited was first the NBFC where the
implementation of Finacle was attempted.
Salient Features of Implementation

• Bajaj Finance Limited having more than three lakh deposit accounts, around 2.5 lakh+ customers and
  300+branches during migration and implementation of the deposit module at the
  shortest time.
• Bajaj Finance Limited being a NBFC was not permitted to have operative accounts and funding was
  done through their middleware from their Bank accounts.
• In view of the above customisation was done to accept office accounts wherever
  operative accounts were mandatory.
• Bajaj Finance Limited have their own front-end application for opening the deposit Accounts and these
  accounts will be created in Finacle through APIs.
• To achieve the same, existing base product APIs were modified to include addition
  fields.
• Custom APIs were developed for many functions like lien marking, submission of Form
  15G/H, Interest certificate generation, TDS waiver etc.,
• Integration with Salesforce for CIF and customer onboarding (Customer to provide all
  the mandatory fields in XML FI format)
• File based integration for (This will be File uploads / downloads) incoming funds
  (cheque-based payment, credit office account, debit office acct and create FD)
  ➢ out-going funds (interest payout and maturity payout)
  ➢ Partner portal – offline file-based integration
• Enterprise Data Warehouse – Offline integration – extraction of data from Finacle and
  dump into EDW system
• Many Customized Reports were developed for Bajaj Finance Limited‘s MIS purpose.
• This first NBFC implementation was completed within 10 months despite Covid
  restrictions in the Country.