Introduction:

Jammu And Kashmir Bank Limited (J & K) was incorporated in 1st October of the year 1938 and commenced its business from 4th July of the year 1939 at in Kashmir (India). The Bank was the first in the country as a state owned bank. It offers banking services under the three major divisions as Support services, Depository services and Third party services. Presently, the bank has more than 560 branches under its control to serve the customers across the country. According to the extended Central laws of the state, Jammu & Kashmir Bank was defined as a government of company as per the provision of Indian companies act 1956. In the year 1971, the Bank received the status of scheduled bank. RBI declared it as 'A' Class Bank in the year of 1976. During the year 1993, the Bank made tie up with Reuter News Agency for instantaneous information about global foreign currency rates and fluctuations. In the year of 1995, Banking Ombudsman Scheme was launched in June and a loan delivery system was introduced in April, which was used for large borrowers. During the year of 1998, J & K had introduced a new term deposit scheme under the title of Jana Priya Jamma Yojna carrying flexibility in the repayment schedule and in the same year the bank introduced Housing Loan and Education Loan Schemes. The Bank had entered into an agreement with IBA to connect its ATMs through a shared network in the year 1999. To offer Internet Banking and for its e-commerce initiatives, the bank made tie up with Infosys Technologies and also in the same year J&K Bank had entered into agreement with American Express to launch a cobranded credit card. J&K Bank had diversified into non-life insurance and depository business, apart from life Insurance and asset management business in the year of 2000. The Bank had launched Global Access Card (An International Debit Card) in association with Master Card International during the year of 2003. During the year 2004, J&K Bank agreed with ICICI Bank to share the ATM network. In the same year the bank had received the Asian Banking Award 2004 in Manila for its customer convenience programme. Signed MoU with Bajaj Tempo in the year of 2004. During the year 2005-06, J&K opened its branches in Chennai, Kanpur, Agra and Kolkata. Also in the same year introduced new product and services for rural finance. During the period of 2006-2007, the bank introduced various hi-tech and customer friendly products. The Bank and TATA Consultancy Services (TCS), Asia's largest IT company signed a Memorandum of Understanding (MoU) to signal their intent to work together to create an IT blue-print for the bank. Going forward with its renewed business strategy, J & K Bank had opened its 564th branch at Lassipora, Pulwama Srinagar in July of the year 2008.

Jammu & Kashmir Bank is the only Bank in the country with majority ownership vested with a state government the Government of Jammu & Kashmir. J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialized bank in the rest of the country. It is also the only private sector bank designated as RBIs agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT. J&K Bank follows a two-legged business model whereby it seeks to increase lending in its home state which results in higher margins despite modest volumes, and at the same time, seeks to capture niche lending opportunities on a pan-India basis to build volumes and improve margins. J&K Bank operates on the principle of socially empowering banking and seeks to deliver innovative financial solutions for household, small and medium enterprises.

The Bank , incorporated in 1938, and is listed on the NSE and the BSE. It has a track record of uninterrupted profits and dividends for four decades. The J&K Bank is rated P1+, indicating the highest degree of safety by Standard & Poor and CRISIL.

Vision:
To catalyses economic transformation and capitalize on growth. Our vision is to engender and catalyze economic transformation of Jammu and Kashmir and capitalize from the growth induced financial prosperity thus engineered. The Bank aspires to make Jammu and Kashmir the most prosperous state in the country, by helping create a new financial architecture for the J&K economy, at the center of which will be the J&K Bank.

Mission:
Our mission is two-fold: To provide the people of J&K international quality financial service and solutions and to be a super-specialist bank in the rest of the country. The two together will make us the most profitable Bank in the country.

The Finacle has helped the J&K bank in the following ways:

Core Banking
Finacle core banking solution is a comprehensive, integrated yet modular business solution that effectively addresses the strategic and day-to-day challenges faced by the J&K bank. It is highly parameterizable providing that much-needed flexibility to innovate and adapt to a dynamic environment The solution has an integrated CRM module enabling banks to offer a rich and differentiated value proposition to customers. The layered Service Oriented Architecture (SOA), STP capabilities, Webenabled technology and 24X7 operations ensure multi-channel, multi-country and multi-currency implementations. The functionality-rich modules in the solution provide banks with a varied palette of features to continuously innovate on their product and service offerings. From the services innovation perspective, Finacle offers a comprehensive and unified customer repository with capabilities to educate and empower customers. With Finacle core banking solution, banks can meet the challenges of managing change, competition, compliance and customer demands effectively. This has greatly helped the J&K bank in integrating its services and take head on competition with the global banks

e-Banking
Consumer e-Banking
Finacle consumer e-banking solution is a proven Internet banking and mobile banking solution for retail banking customers. Built on new-generation technology, it provides a single unified view of the customer's many relationships with the J&K bank. The solution provides high flexibility for customization and robust security features. Key Modules Core Module Payments Module Credit Card and Mutual Fund Modules Electronic Bill Payment and Presentment (EBPP) Module Alerts Module Security Features Mobile Banking

Corporate e-Banking
Finacle corporate e-banking is a comprehensive, corporate and small business banking solution providing a single unified view of corporate banking relationships across asset and liability products, limits, trade finance and cash management. It is designed to support multiple channels including the Internet and mobile, and can be interfaced with disparate host systems and third-party applications. Key Modules Accounts and Transfers Electronic Invoice Presentment & Payment (EIPP) Payments Collections Management Liquidity Management Reconciliation Reporting Trade Finance

Mobile Banking
Finacle mobile banking solution empowers retail and corporate J&K bank customers with access to banking services through SMS, GPRS/ 3G and USSD-enabled handsets, leveraging a single platform. The solution provides a secure, multi-lingual channel for banks to innovate by easily deploying new services with improved time to market. The end user experience thus created is richer and truly convenient. Finacle mobile banking solution integrates easily with disparate host systems, core banking solutions, payment networks and third-party applications.

Advizor

Finacle Advizor has empowered the J&K banks to deliver products and services through a fully assisted self service channel that capitalizes on the organizations existing Internet banking capability. Leveraging Web 2.0 principles and recent technological advances in the IP convergence space, the solution brings to the self-service channel the comfort of human intervention through triple play entailing video, audio and data communication along with co-browsing. In effect, this virtually recreates the service experience at a branch. Finacle Advizor provides banking customers real-time access to their relationships with the bank, such as account inquiries, fund transfers, remittances, credit card and mutual fund payments. It enables them to make payments to individuals and institutions, through channels like the Internet, kiosk and ATM. Compatible with any multimedia capable PC with an Internet or intranet connection, the solution leverages the Microsoft application platform.

Treasury
Designed by seasoned treasurers and shaped by traders from the worlds largest treasuries, Finacle is an integrated front, middle and back office treasury solution covering the entire deal lifecycle for a wide range of trading and capital markets products. Finacle treasury solution has helped the J&K bank in following ways :

Fast and Efficient Front-to-Back Office Processing Wide Range of Asset Classes Greater Flexibility Collaboration and Co-creation

Finanz Tools
Finacle finanz tools are an integrated family of advanced solutions that engage the banks customers in personalized product illustrations. These are simple-to-use financial calculators, simulators and modelers that illustrate how financial products work, and demonstrate their benefits and features. The

tools quantify the outcomes of personalized scenarios, while providing engaging and interactive visual presentations. Finacle finanz tools enable easy-to-understand rendering of complex concepts, by presenting overall product pictures to the customer, without compromising on the details. This allows the customer to simulate various scenarios and understand products in detail, before making informed choices. The bank can mix and match the range of tools, embed these directly into any or all of the sales channels, and use them as online marketing tools for: Simulation: Recreating a range of product situations by suitably changing the parameters to match customer requirements, to observe outcome. Comparison: Comparing two or more similar products to show the behavior of products for various parameters such as term and interest rate. These simulations are created online with results displayed in real time. Illustration: Personalized illustrations for specific customer contexts. Goal Seeking: Depicting the steps to achieve a financial goal. Guidance: Advising customers to help them address critical questions related to financial planning.

CRM
Finacle CRM solution is a modular, multilingual, Web-based customer-centric application that enables the j&k bank to leverage ready-to-deploy CRM functionality for competitive differentiation. Integrated with Finacle core banking solution, Finacle CRM solution offers end-to-end functionality to effectively address the needs of the complete cycle of marketing, sales and service for banking products. Facilitating a unified 360 view of the customer across product lines and multiple back-end systems, it enables bank to improve customer experience across channels and empowers them with a robust platform for cross-sell opportunities. It also arms bank with the technology muscle to increase reach through effective marketing campaigns. Finacle CRM solutions proven scalability further ensures that it can meet the needs of growing banks. Key Modules Enterprise Customer Information File (CIF) Sales Loan origination Service Call center Marketing

ASSIGNMENT ON HOW FINACLE HAS HELPED J&K BANK TO IMPROVE ITS SERVICES

SUBMITTED BY: AARIF RATHER ROLL NO. 02

SUBMITTED TO: MR. AASIF NAKSHBANDI