Core banking solution

Introduction

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CBS solution overview• CBS is networking of branches, which enables customers to operate

their accounts, and avail banking services from any post office on CBS network, regardless of where they maintain their account

• The customer is no more the customer of a particular post office. Thus, CBS is a step towards enhancing customer convenience through “Anywhere and Anytime Banking ‟

• CBS will have the following features which are not available in Sanchay Post: – Real-time 24x7 processing capability, – Centralized database, – Availability of alternate channels, – Capture of KYC (Know Your Customer) details, – Adequate audit & inspection features and many more…..

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Core banking – key features

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Core banking enablers

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Key features of CBS

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Key features of CBS Finacle• Customer Information File (CIF)

– Unique ID for tagging customer information – All accounts are associated with a customer across country under one CIF

• Enterprise Content Management System (ECMS) – Infrastructure to capture and store scanned documents electronically – Document stored is accessible at all location (having proper authority)

• Customer Interaction channels – Call Center, Internet and Mobile Banking

• Signature Verification System (SVS) – Upload and view photographs, signature and customer documents

• Risk based authentication – Risk evaluation based on transaction pattern, location, device etc. – Secondary authentication using One time password

• Deposit Modeling – View of various scenarios of Term Deposit available at postal counter to help customer in

selecting best option

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Key features of CBS finacle• Common Reporting System

– Using Management Information System (MIS) • Agent portal

– Online interface for Agents • Integrated with external and internal systems

– External – Money gram, Western Union – Internal – Human Resource, General Ledger, Finance & Accounts

• User access management – Centralized User access management policy

• Anti Phishing – To enhance security of online transactions

• Recurring Deposit - Bulk Posting Process – Agent can enter the amount deposited against accounts they service. – Counter PA will verify the cash/ cheque deposits and post actual transactions (on same

day before day end)

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How CBS differs from Sanchay Post• Distributed Vs. Centralized

– Document repository – Product parameters and their roll out – User Id creation and Role based access control – Patch management

• Menu driven vs. Short cut application • Integrated with Other departments like treasury (dependent on CSI) • English vs. Multilingual Field names (Data Entry in English only) • Audit Log • Circle Processing Centre (CPC) • Central IT team

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Role of Circle Processing Centre

• New Team for processing banking related operations which are not customer facing.

• One CBS – CPC will be there for each Circle. • Activities in CPC

– Account Opening Related • KYC and AML compliance checks • Existing CIF maintenance • Existing accounts maintenance for account opening requests

– Enterprise Content Management System • Physical document receipt, unbundling and segregation • Scanning • Uploading into content server • Revert physical documents back to originating office for safe keeping

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Document processing

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Document processing

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Key benefits of CBS

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Benefits for counter PA/Supervisor

• Increased efficiency in tasks – Automatic interest calculation – Automatic Report generation – Agents module(automatic disbursement of commission) – RD Bulk posting – Unique ID for each agent with details available in system – Automatic credit of commission to agent account– All scheme details available on single click – Information available for better task planning

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Benefits for counter PA/Supervisor

• Shorter queues at counters – Internet banking to customers – ATM for cash withdrawals – Call centers for enquires – E statements, notifications alerts on email

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Benefits for counter PA/Supervisor

• Fast access – Capture details of standing orders – Unique Customer ID mapped against all accounts

owned by a single customer – Refined search criteria ; – Shorter response time for data retrieval

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Benefits for counter PA/Supervisor

• Reduced Human Errors – Auto renewal of term deposits in absence of

customer instructions – Calculation logic is in built in the system – Automatic interest calculation to accuracy level till

months and dates – Automatic calculation of charges for late payments

of installments

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Benefits for counter PA/Supervisor

Audit Reports/ Alerts/ Control Fraud – Role based authorizations (eg. Information can be

altered only by authorized person) – Suspended customers details coming from AML

available on CBS – Register of Duplicate certificates issued – Provision to place holds / restrictions on accounts

or funds within an account with authority as per the requirements of the PO.

– SMS and e-mail alerts about financial transactions 2.6..17

Benefits for counter PA/Supervisor

Provide improved customer service – Centralized update of all new rates, and policies

like changed forms, required documents etc. – Single answer to customers at all counters across

all post offices – All customer related information available at

single screen

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Benefits for Postmasters

Monitoring and Tracking – Monitoring and tracking of pending requests – Easier tracking of accounts and transactions – Reports on: • Pledged certificates and released certificates • forfeited certificates • List of Certificates issued and discharged Daily • Unsold PO Cash Certificates and many more….

– 24X7 access to reports online

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Benefits for Postmasters

• Forecasting and target planning – List of accounts of Pre mature closure , year wise

for in each category – Details of monthly/quarterly interest payable to

customer/ Counter Staff payments – 24X7 technical support

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Benefits for Postmasters

Audit Reports/ Alerts/ Control Fraud – Real time Fraud Management Monitoring – Provision to revoke restrictions on an account

(hold, lien, freeze.) as per DoP policies with appropriate authorization

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Benefits for System Administrator

• Increased efficiency in tasks – No software patches at local office level;

centralized automatic update – Secured data through encryption, firewalls,

restricted access • Lesser queries from employees – Dedicated Helpdesk for employees – 24X7 technical support

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Benefits for System Administrator

• Network Efficiency – Solution to support on low bandwidths also – Primary and secondary network lines

• Easy transfer of data from sanchay post – Easy tracing of old accounts to new accounts

during migration/ interim period through mapping.

– Migration of Existing Accounts & Certificates from Sanchay Post branch to CBS environment

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Double entry accounting system

• Introduction to double entry accounting system as it applies to finacle

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Demo

• Watch the demo of the functioning of Finacle software for regular transactions

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Discussion

• Discussion on the changes on introduction of CBS

• Discussion on the care to be taken in certain cases

• Discussion on the role of office accounts and their adjustment transactions

• BO process in finacle

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Security concerns in finacle

• Password security, specially for supervisor’s account is extemely important

• Logoff from finacle when there are no tasks to be performed

• Ensure that you enter the passwords correctly during login; Three wrong attempts will disable your account and help desk assistance would be required

• Ensure that operators note the transaction ID on vouchers without fail

• Verify the transactions as they occur and do not postpone; This will help smooth day end operation

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Thank you

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