Core Banking Solution for Employees Co-operative Credit Societies

SuVikas ECCSTM

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For over a century now, cooperatives have empowered millions of people in the country across a broad spectrum of socio-economic groups. As a technology provider, VSoft is truly proud to be associated with many cooperatives in their endeavor to offer better services to larger sections of the population.

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” Murthy VeeraghantaChairman and Managing Director, VSoft Technologies and

recipient of Business Leadership award from Indian.

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100 Years of Trust and Service

Cooperatives build customer relationships based on trust rather than by merely processing transactions. With a history dating back to 1904, Cooperatives exist to serve their members and depositors and produce better benefits and services for them. By increasing access to banking in areas where other banks have lesser footprint – farmers in rural areas, middle or low income households in urban areas – Cooperatives reduce banking exclusion and foster economic ability of millions of people.

Employees Co-operative Credit Societies

In the past few decades, Employees Co-operative Credit Societies (ECCS) have expanded their services beyond thrift and loans. They now operate as full-fledged financial institutions extending their services to even non members.

Today, co-operative institutions are at the crossroads of a major transformation. To remain profitable in a highly competitive market place, co-operatives have to adapt and innovate so they can build stronger relationships and process higher transaction volumes. While their traditional system of financial services is the foundation of their existence, the changing times demand modernisation of their operations. Just as financial institutions all over the world, co-operatives in India too have to gear up to the challenges of modern financial services.

VSoft – A New Age Technology Company

Reforms in the financial world depend primarily on the organisational effectiveness of financial institutions, including co-operatives. Since our inception, we have been committed to helping our customers succeed. We scrupulously do our homework to understand what you do and help you do it more quickly and efficiently.

We developed our core banking solution for co-operatives with an aim to enable them to focus more on their core activities and less on information technology. High level of performance at an affordable cost is our promise to you.

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SuVikas ECCS

SuVikas ECCS module is a plug and play solution that caters to the core banking needs of Employees Co-operative Credit Societies. Powered by SuVikas’ robust banking modules, ECCS is highly parameterised and gives better control on operational functions and enables instant customisation to meet organizational needs of co-operatives.

Salient Modules of SuVikas ECCS• ECCS Accounts

• Define institutional parameters

• Create ECCS accounts for both members and non-members

• Membership Applications Processing

• Receive, verify and process membership applications

• Set up new accounts and modify existing accounts

• Define and modify nominees, salary slab etc.

• Allotment of shares to members

• Member Loan Account

• Process member loan applications

• Set up new loan account or modify existing loan accounts

• Define loan supplements, dispersal of loans and closing of loan accounts

• Set up co-makers and guarantor for surety.

• Thrift Deposits

• Set up thrift deposits

• Demand

• Department-wise demand generation

• Multiple demand generations based on defined parameters

• Recovery

• Bill unit wise recovery

• Member-wise adjustment of bills

• Adjustment of excess recoveries as desired

• Shares

• Calculate dividends based on business rules

• Distribute dividends to members

• Welfare Module

• Set up customised welfare products like medical, fellowships etc.

• Cashier Receipts

• Cashier member receipts

• Cashier GL receipts

• Cashier employee receipts

• Payments:

• Cashier GL Payments

• Cashier Employee Payments

• Pay Bill Details

• Cashier Supplementary Payments

• Cash Administration

• Set up opening and closing cash management with denominations

• Member Closure

• Receive membership closure application

• Authorise member closure

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SuVikas ECCS Functional Diagram

Mobile BankingHand Held Device

Touch Screen Kiosk

Internet Banking

Product De�nitionAccount OpeningAccount Closure

Account Maintenance

MIS ReportsCustomized On-Demand ReportsStatutory Reports

Cash Withdrawal TransfersRenewals Share Transaction RemittanceCashier Transactions

Local Clearing Outstation Clearing Cheque Post Dated Cheque ClearingFile Based Clearing ECS Debit & Credit

Transactions

Clearing

Head O�ce Operations Investment

Loans

Reports

Lockers

Shares

Deposits

Passing

Customer

InformationSystem

Branch Definition Send To and Receive From HOProcesses

TransactionsBatch PostingInterest and Dividend

Utilities

Financial Management

Risk &Compliance

ReportWriter

Administration

Integrated Modules

Delivery Channels

Welfare Module

Shares

Cashier Receipts

RecoveryMembership Application Processing

Reports

Member Loan Accounts

Cash

Administration

Customer

InformationReports

ECCS Accounts

Payments

Thrift Deposits

Demands

ECCS Module

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Salient Modules in SuVikasSavings Accounts

Option of defining minimum balance requirements (sweep-in/sweep-out), periodic interest payment, interest, calculation on daily basis, debiting charges, facility to link debit/ATM cards and personalized cheque printing.

Current AccountsInterest payment, use of debit cards, ATM cards, debiting charges, ability to link the account to “Flexi Deposit” products, personalized cheque printing.

DepositsFixed DepositsProvision to compute interest. Open a series of deposits at a time for a given customer.

Pigmy DepositsCollection of deposits with handheld devices. Provision to upload data to the application.

Recurring DepositsProvides interest payment so that small changes do not adversely affect the customer and also the benefit for early payment is not denied.

Flexi DepositsSweep-in and sweep-out facility based on the predefined limit available in both RD and FD formats.

LoansSupports all types of loan products and related documentation-personal loan, housing Loan, consumer loan, automobile loans etc.

Gold LoansSupports flexible product definition, limits, appraiser charges etc. Loan Products

Can be structured to suit individual needs with moratorium, equated installments, and bullet repayment. Hierarchical structure for GL accounts can be maintained. Base rate can be defined for different loan products. Different interest rates can be applied to individual loan accounts based on risk perception. Interest rates linked to base rate.

Share AccountsSupports multiple products, multiple categories of customers, verifies voting rights, dividend distribution and dividend warrant printing.

Bank Guarantee (BG) Covers all types of Bank Guarantees with operations such as issue of new BG, BG Period and Amount Amendment, Cancellation, Payment Invocation, Claim Settlement.

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Letter of Credit (LC) Supports Inland as well as Foreign LC functionality in integration with multi-currency operations, supports functionalities such as Import & Export LC in integration with Pre-shipment, Post-import Finance functionality.

NPA ManagementNPA marking, NPA movement, NPA registers.

Overdraft/Cash Credit LimitDefine, maintain and calculate overdrafts/cash credit limit for clients who require financing. Charge interest only for the amount overdrawn. Define and charge fee, if required.

InvestmentsAccount details and other functions. Handles wide variety of investment portfolios for institutions/customers. Maintain mirror accounts of the depository in which the investments are held.

RemittancesIssue, cancel and realization of DD and Payorder. Supports AIMAS.

Tax CalculationCompute service tax and create vouchers periodically. Interest paid without withholding tax returns. Complies with tax laws (26QA).

ClearingSupports inward, outward and postdated cheque clearing.

Bills CollectionInward and outward bills collection. Purchasing and discounting of bills.

Charges ModuleParameterized to suit event driven batch processing automatic processing, exception reporting etc.

Messaging & AlertsIntra-bank broadcasting of messages and alerts across the bank, branches, or specific users for communicating to the staff about various communiqués and client-specific requirements.

PrintingSuVikas supports all standard pass book printers, certificates-shares and deposits, letters - user-defined templates, personalized cheque book printing, dividend warrants etc.

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Optional Features in SuVikasInternet BankingThis feature allows users to perform transactions, payments etc. over the Internet through the bank’s secure website. Customers can do their banking anytime, anywhere.

Point of Sale / Touch Screen Kiosk FacilityThis feature allows POS / Kiosks to be integrated with the application so that the bank’s customers can access their accounts and conduct transactions.

Mobile / SMS Banking and AlertsThis feature provides user with the facility to avail information such as transaction message, balance inquiry, mini statement and cheque book request among others.

ATM Card ManagementThis feature provides users to manage the complete life cycle of card production. It offers services ranging from new card issuance, add-on card issuance, registration of cards, PIN mailers, replacement card issuance (for damaged or lost/stolen) and hot listing of card, unblocking of blocked cards among others.

Utility Bill PaymentAllows users to pay for a variety of utilities and services.

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Operating EnvironmentYour choice of database/application server hardware and operating system software.

Deployment OptionsDeploy as an in-house solution or as an

outsourced service.

Freedom of Choice

Business BenefitsThe business benefits from SuVikas can be viewed from three broad perspectives: flexibility, integration and value. These three fundamental aspects have far-reaching implications for your growth as a forward looking and future-ready co-operative bank..

FlexibilityFlexibility enables you to adapt quickly to external changes with the ability to scale your operations accordingly. SuVikas’ unified view of customer information helps you make truly customer-centric business decisions. Freedom to select the delivery model of your choice, based on your size, required features and budget, results in optimum resource allocation that satisfies the strategic mission of your institution. With customizable business rules you gain remarkable business agility to quickly launch new products or fine tune your existing products to suit changing market conditions.

IntegrationSuVikas is built on advanced technology resulting in re-usable business services. This enables you to quickly respond to business changes and offers you wider integration capabilities with external systems on multiple platforms. Popular industry standard protocols enable the system to run on any environment that supports these standards. Hardware independence provides you the freedom of choice in hardware and software infrastructure that best fits your existing or desired environment. With reliable and highly secure data management systems built into SuVikas, risk and regulatory compliance is ensured, giving you complete peace of mind.

ValueThe true value of SuVikas is the superior benefit-cost ratio it offers with higher return on investment (ROI) for lower total cost of ownership (TCO). The modular structure of the system and the reusable business services combined with multiple delivery models and hardware independence gives you comprehensive flexibility in terms of ownership costs. You get new life out of the capital investments you have already made in hardware as SuVikas works with many popular hardware systems. In addition, real-time transactional capabilities and ease-of-use offer you invaluable returns.

Operating EnvironmentYour choice of database/application serverhardware and operating system software.

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Enabling IT as a Strategic Resource for enhancing Enterprise Knowledge improving Customer Service strengthening Governance increasing Overall Efficiencyand ensuring Environment Friendly Systems IT Vision of Reserve of Bank India 2011-17

India, Asia-Pacific, Middle Eastwww.vsoft.co.in

VSoft Technologies Pvt. Ltd.,4th Floor, Block - 1, My Home Hub, Madhapur, Hyderabad - 500081, INDIAEmail: sales_india@vsoftcorp.comSales and Marketing: Phone: +91 40 4477 5723North: +91 9311071599 East: +91 9830120150West: +91 9867721273 (Maharashtra and Goa) +91 9427375267 (Gujarat and Rajasthan)South: +91 9949352950 (Andhra Pradesh) +91 9867721273 (Karnataka) +91 8129498369 (Kerala) +91 9500046961 (Tamil Nadu)

Americaswww.vsoftcorp.com

VSoft Corporation6455 East Johns Crossing, Suite 450, Duluth, GA 30097General Inquiries: Phone: 770 840 0097; Fax: 770 840 0727Sales and Marketing: Phone: 770 255 7692

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