FINANCIAL TECHNOLOGY INNOVATIONS - Banking Frontiersbankingfrontiers.com/technoviti/wp-content/uploads/...2 BANKING FRONTIERS TECHNOVITI 2015 INDEX Financial Crime Surveillance Solution

BANKING FRONTIERS TECHNOVITI 2015 1

P R O C E S S P A R T N E R

FINANCIAL TECHNOLOGYINNOVATIONS

2 BANKING FRONTIERS TECHNOVITI 2015

INDEX

Financial Crime Surveillance Solution from Infrasoft 5

Authentify - An e-Security solution 6

Unified Interaction Suite from CS-Infocomm 7

Firepower- an e-Security tool from CISCO 8

Entrust Datacard- Cards Solution 9

Instant Issuance from Datacard 10

Financial inclusion initiatives from HCL 11

IDEA IMAGING- Extrieve Technologies 12

Intelligent ATM- Leoprimecomp 13

Interdialog- Call-center software from Teckinfo 14

Juspay Mobile Platform 15

CB Konnect- FI platform from Mindgate 16

Money Mobility Suite from Mistral Mobile 17

Green-IT Hardware from DSK Mobiliz 18

Money on Mobile’s mWallet 19

Mobile Salary Payment solution from YTS 20

Handheld FI platform from DSK Digital 21

Enterprise mobile banking app from Infrasoft 22

Octopus- Enterprise Social Network from Polaris 23

Pressure pin sealer from Dadajee Dhackjee 24

Starc- Grupo HDI’s testing solution 25

Tradefree - Trade Finance application from Aditya Birla Minacs 26

Veracious Oasis - App Development Framework from Global Software Solutions 27

Xelerate - Revenue generation and business assurance product from Suntec 28

Zumigo - Anti-fraud risk management app 29


Innovation- the multi-dimensional use engine

Banking frontiers began the quest to unearth innovations in the year 2011 by trying to explore new and disruptive innovations within the BFSI

sector. These innovations have come out with an aim to create a better customer experience environment and business ecosystem.

It is not a rocket science to gauge that most of these innovations are technology oriented. One need not get brownie points to know that these innovations are based upon wonderful technologies. Considering this fact, Banking Frontiers in association with our research partner-Greyhound Research decided to catch these innovations at their roots. In a way, our mission is to unearth the unexplored innovations from the BFSI industry. Some of these innovations are, experienced, seen, and implemented, however these largely remain promising yet unseen.

The compendium is a compilation of such innovative technologies. The compendium is a dedicated service to the CIO and the business heads of BFSI sector; Who many a times, may not have the privilege of evaluating each and every interesting innovation that comes across. Technoviti is a boost, to the backstage show-makers, who interestingly don’t receive the required mind-share, when it comes to appreciation of a financial innovation. Such innovations need to be blended with the business domains of the financial service providers. It is like that of a multi-dimensional use engine, which can be fitted into different vehicles, depending upon business choice.

We have gone through a herculean task of enrolling with like-minded CIOs who intend to not-just evaluate the products themselves but for the industry on a whole. This evaluation would help the fellow CIO community, get a confidence that the product or service meets a certain specific standard to be followed by fellow peers from the industry.

The compendium is a dedicated effort of the hard-working technologists who have sent in nominations, and the financial service professionals who have taken time to evaluate it. The compendium is a collectors item for all CIOs who are planning mega technology projects this year. It is also targeted to equity investors who intend to invest in disruptive technologies. I would like to congratulate the team of Banking Frontiers, who have put hard toil, to enroll the IT service providers, as well as the CIOs, CXOs and academics to make this dream of Technoviti a grand success.

In the words of Dr. N.R. Narayanamurthy, if you want to grow for tomorrow, grow flowers; If you want to plan to grow for the next ten years; grow trees. If you plan to grow in the millenium then harness your people resources. And that is exactly what we need to do- inculcate the tradition of innovations into the DNA of people.

Happy Innovating! Happy Technovating!

Babu Nair Publisher-Banking Frontiers


Over the last decade the importance and benefits of technological

innovation has been well recognized by the Banking industry. The

implementation of core banking platforms has enabled banks to provide

a hassle-free and unified banking experience to customers. This has also

given banks a strong launch pad to offer digital channel capabilities —

almost all banks today are feverishly building out their online and mobile

channel offerings.

All this points to a flourishing industry, focused on technological innovation.

Innovation remains the single most important lever to fundamentally change

the way products and services are conceived, created and increasingly

delivered.

With large sets of population still unbanked in India, the NDA government

has decided to add thrust to the ambitious initiative of Financial Inclusion.

Aiming to provide banking to the unbanked citizens of India, this initiative

aims to extensively use technology frameworks and is bringing together

the industry to act collectively. This and other flagship initiatives like M-Pesa

only point to the rapidly maturing technology-driven banking sector in India.

This compendium by Banking Frontiers offers a comprehensive view on

the sweeping change in the Indian Banking and Financial Services industry.

While the role of technology in aiding this change is well established,

some critical questions still need to be answered – key question being

the preparedness of IT providers in helping banking institutions manage

evolving regulatory complexity and also ensuring contextual customer

engagement.

I hope this brilliant initiative by Banking Frontiers will help offer insights

on these topics and also help you think beyond the conventional ways

of business.

Sanchit Vir Gogia,

Chief Analyst & Group CEO Greyhound Research, a Greyhound Knowledge Group company


Financial Crime Surveillance Solution

CATEGORY: RISK MANAGEMENT

OVERVIEW

OMNIEnterprise Financial Crime Surveillance Solution is an enterprise-wide solution designed to implement strong fraud detection and compliance management practices and analyze fraud & risk exposure. The solution enables global enterprises to implement enhanced controls on their internal KYC guidelines and analyze & manage their organization’s risk & compliance health check.

Compliance & financial crime surveillance solution enables banks to fight financial crime and meet the most stringent demands of regulators - all under a single investment framework. The solution can identify; specific money laundering and fraud scenarios. It offers common platform to address regulatory compliance and risk mitigation. It has been successfully operating at Banks, Insurance Companies, Mutual Funds, Brokerages, Money Exchange / Remittance Businesses. Celent, a leading research & analyst agency, has ranked it high on the twin parameters of Advanced Technology and Breadth of Functionality in its report – “Evaluating the Enterprise-Wide Compliance Vendors Solutions for Anti-Money Laundering and Anti-fraud”

FEATURES

OMNIEnterprise’s platform enables clients to update financial crime strategy and keep pace with changes in their business and industry. This protects the clients from the need for large-scale technology investments every time there is a new regulation from authorities or new attacks from the criminals. The unique and scalable technology platform has the capability of monitoring and analyzing - in real-time, near-real-time or in batch mode - every transaction by every customer, across every account and every channel, to detect and stop suspicious behavior.

The tool provides wide monitoring and

analytical capability to identify & investigate money laundering cases . The solution works at three levels –

1. Compliance with guidelines from Financial Investigation Units (FIU).

2. Post-facto and predictive analytics to identify high risk customers and transactions.

3. Pro-actively alert on potential fraud scenarios across all customer delivery channels like ATM, Internet, Mobile and Cards

Key modules of the tool include

1) Enhanced Customer Due Diligence

2) Real-time Surveillance

3) Fraud Scenario Detection

a) Delivery Channel Analysis

b) Automated Clearing House (ACH) Monitoring

c) Card Based Transaction Monitoring

d) Know Your Employees - Monitoring & Detecting Fraud

e) Early Warning on Fluctuation of Customer Weighted Risk Score

BENEFITS

Tool supports multi-entity, multi-Currency, cross-vertical and multilingual operations in multiple jurisdictions or multiple lines of business within the same country or decentralized implementation with common view at parent level. A cross-platform compatibility allows flexibility in terms of standardization of technology.

As a common platform for anti money laundering and anti fraud the tool results in:

1. Savings on Infrastructure overheads to the tune of 80%

2. Reduction of 40% over staffing related costs

The platform not only identifies and thwarts illegal funds movement and fraudulent transactions but it also helps financial institutions manage and maintain their reputation.


CATEGORY: e-SECURITY SOLUTION

OVERVIEWOn-line authentication measures in banking and financial services still employ a traditional approach. The underlying infrastructure has been designed in a manner that leaves consumers with a multitude of inconsistent and uncoordinated experiences. Implementing and managing a single interface to every solution and application is financially inviable and resource-heavy for a bank or enterprise. In simpler words, legacy technologies for creating a strong authentication process are expensive. This leaves a multitude of challenges for the entire community.

The xFA Authentify application helps banks and enterprises to capitalize on the promise of mobile-based solutions while protecting customers and employees from the dangers of working in a ‘hostile environment’. xFA is a cloud based multi-factor authentication solution that offers the capabilities of digital certifications, coupled with a voice biometric tool. The ensuing customer experience is enriching, since it is delivered in an elegantly simple mobile application.

FEATURES The Authentify xFA service that powers the application, shields the end user and the enterprise from the complexity of deploying and using digital certificates and voice biometrics. The Authentify service continues to add in next generation authenticators- some of which include a currently supporting iOS/Samsung S5S fingerprint capability, Geo-location, NFC. Enterprises can further choose from a number of authenticators, which can be further customized as per a policy.

By eliminating the need to type passwords, and transfer User id’s and OTP deploying passwords across compromised PCs/mobile device and a compromised network- key stroke logging, MITM (Man in the middle) and many other online and digital attacks are thwarted.

BENEFITSAuthentify pioneered the concept of out of band authentication (OOBA) in 2000. Currently 17 of the top 40 banks and 4 out of the top 5 e-commerce companies use this service. Over 1500 banks are using the Authentify OOBA services. Authentify software and servers are utilized in industry leader data center operations in SAS 70 Level II/SSAE16 compliant production facilities at Sungard.

The Authentify application serves customers, banks and bank-employees. For a user, instead of remembering passwords, the user can wield a validated digital credential, tied to them by their voice biometric. The appearance and user interface is simple to use, like a mobile application. The Authentify xFA service that powers the application shields the end user and the enterprise from the complexity of deploying and using digital certificates and voice biometrics.

For user communities with user who do not have smart phones, Authentify can offer voice biometrics via standard mobile phones or on landlines too. Enterprise can still deliver a more unique and secure authentication process.

Authentify


CATEGORY: UNIFIED COMMUNICATIONS

OVERVIEWEvery bank and financial organization has an IVR system installed for customer interaction. Most enterprises believe it is essential to approach an effective call-flow measure to give customers a smooth experience. An effective IVR system is one that has a documented call-flow approach, which may lead to better customer experience.

With the proliferation of social media, communication channels and integrated technology platforms, customers now expect collaborative offerings spanning across products, channels and geographies. CS-Infocomm’s Customer Interaction emphasizes on creation of an enterprise communication hub to give a seamless and elite experience to customers.

FEATURES:The CS-Infocomm Video Interaction Module(VIM) Service provides a simplified, secure channel of communication including voice, video, and data over the Web to further enhance the customer engagement experience. Contacting a company representative or service agent is seamless for partners, prospects, and customers, as they can quickly initiate a voice or video call via their browser directly from your company website. This keeps customer frustration to a minimum and maintains a seamless level of interaction to enrich their overall web experience.

The unified interaction suite consists of three modules. Namely a process that enriches the existing IVR, integration of a Video interaction along with collaboration on WEB and Mobile, and thirdly a remote banking terminal. The Unified Interaction suite integrates traditional voice, mobile, SMS, Instant Messaging and social media to offer a seamless experience to the customer. The customer experiences the same work-flow on all media be it voice, mobile, twitter or whatsapp. The

self service with simple and meaningful algorithms or process flows results in less dependency on the IVR.

In case the customer interaction disrupts during the course of self service interaction, the system picks up the thread from that point to other media channel. Some of the additional features within the suite are availability of a text chat module, co-browsing, data-sharing, and Click-through voice and video calls directly from the Web.

There is zero foot-print integration. This means there are no plug-ins, downloads, or installs required. Contextual user data can be associated with the calls. The suite also enables Secure communications with signaling/media encryption and firewall traversal.

BENEFITSWebsite visitors experience the seamless integration of multi-channel communications, including real-time voice only and face-to-face video calls. There is no need to install an additional third-party application for customers. This therefore enhances customer experience and eliminates the incompatibility concerns and complexity.

With the remote banking terminal a bank can create a hub to extend its services to unbanked or under-banked areas in a cost-efficient manner. CS-Infocomm’s customer interaction suite is a complete solution to handle inbound, outbound, remote customers through all communication channels and social media. It has partnered with technology companies in the CTI space and is therefore able to build a positive customer experience.

Unified Interaction Suite


CATEGORY: e-SECURITY SOLUTION

OVERVIEW

CISCO Firepower is industry’s first adaptive, threat-focused next-generation firewall (NGFW) The NGFW has been designed for a new era of threat and advanced malware protection. The FirePOWER series delivers an integrated threat defense to manage an entire attack continuum – that is before, during, and after an attack. This is done by combining the proven security capabilities of the Cisco ASA firewall with the industry-leading Sourcefire threat and advanced malware protection features. The solution uniquely extends the capabilities of the Cisco ASA 5500-X Series NGFW beyond what today’s solutions are capable of.

BENEFITS

The product is a widely deployed, enterprise-class firewall with remote access VPN and advanced clustering for highly secure, high-performance access and high availability to help ensure business continuity. Granular Application Visibility and Control (AVC) capabilities supports 3,000 application-layer and risk-based controls that can invoke tailored intrusion prevention system (IPS), threat detection policies to optimize security effectiveness.

Cisco ASA with FirePOWER next-generation IPS (NGIPS) provides highly effective threat prevention and full contextual awareness of users, infrastructure, applications, and content to detect multi-vector threats and automate defense response. Reputation- and category-based URL filtering offers comprehensive alerting and control over suspect web traffic and enforces policies on over millions of URL which are spread across 80 categories.

Advanced Malware Protection provides industry-leading breach detection effectiveness, a low TCO, and superior protection value that helps banks discover,

understand, and stop malware and emerging threats missed by other security layers.

FEATURES

Cisco ASA with FirePOWER Services is centrally managed by the Cisco FireSIGHT Management Center. Management Center provides security teams with comprehensive visibility into and control over activity within the network. Such visibility includes users, devices, communication between virtual machines, vulnerabilities, threats, client-side applications, files, and websites. Holistic, actionable indications of compromise (IoCs) to correlate detailed network and endpoint event information and provide further visibility into malware infections. Management Center also provides content awareness with malware file trajectory that aids infection scoping and root cause determination to speed time to remediation. Cisco Security Manager provides scalable and centralized network operations work-flow management. It integrates a powerful suite of capabilities; including policy and object management, event management, reporting, and troubleshooting for Cisco ASA firewall functions.

Cisco ASA with FirePOWER Services incorporates an integrated approach to threat defense, reducing capital and operating costs and administrative complexity. It smoothly integrates with the existing IT environment, work stream, and network fabric. The purpose-built appliance family is highly scalable, performs at up to multigigabit speeds, and provides consistent and robust security across branch, Internet edge, and data centers in both physical and virtual environments. With Cisco FireSIGHT Management Center, administrators can streamline operations to correlate threats, assess their impact, automatically

Firepower


CATEGORY: CARDS SOLUTION

OVERVIEWDatacard’s CardWizard software is an instant issuance solution for debit and credit cards. In minutes, consumers can leave a branch or store location with a personalized, permanent and activated debit card.The solution has been continuously refined to meet customer requirements for over 15 years now. It has delivered measurable results in more than 7,000 financial and retail locations worldwide.

The solution empowers card issuers to effectively manage card programs securely, reliably and flexibly anywhere. The central card issuance solutions sets clear global standards for security, productivity, cost control and card marketing innovation. The innovative instant issuance solutions is revolutionizing the way banks and retailers attract and retain cardholders.

FEATURESThe solution is integrated with more than 30 card management (CMS) and card authorization systems, streamlining the issuance process and making implementation fast and efficient. It integrates with a broad range of Datacard issuance systems that allows for secure and affordable issuance of multiple form factors, including embossed cards, flat cards, contact and contact-less smart cards.

The solution has been designed to meet the needs of any smart card program, CardWizard software solution empowers card issuers to build cost-effective smart card personalization into their issuance environments. It utilizes industry leading data preparation and personalization solutions. The instant issuance solution streamlines the issuance process and making implementation fast and efficient.

The solution is easy and flexible to integrate with bank’s existing CMS which provides easy usability and interface to operation management. Instant issuance of financial cards eliminates the wait time

it takes for cardholders to receive their payments cards in the mail – which at times can take up to two weeks. Cardholders leave the branch with their permanent, fully functional, personalized card that is activated and ready for use. There is no third party intermediation and the risks of sending cards and PIN mail is eliminated.

The cost to issue and dispatch financial cards and PIN can rise significantly due to non-delivery or wrong delivery and sometimes even expose the risk of misuse on the cards. By using CardWizard, banks can reduce these risks.

BENEFITSThe tangible benefits of the CardWizard software to the management include production of a competitive differentiator, improved portfolio performance, realized via operational cost savings and improved metrics. For the product marketing teams, the suite helps increased activation and usage, identify Potential new/refreshed acquisition channel, and improve using key drivers/portfolio metrics.

The operations team can leverage from the suite to reduce postage expense and batch runs, eliminate PIN mailers and the hassles of additional re-issuance. Retailers and bank branches can explore opportunities to cross-sell other products, which therefore can create a positive customer experience, thereby exceeding customer expectations. The Intangible Benefits include Higher ROI and ROA for the executive management. The product marketing team can leverage from an increased brand appeal amongst the target segment leading to a larger market share.

Cardwizard


CATEGORY: PRINTER/MFD

OVERVIEW

The CE870TM is an instant issuance system, integrated with Datacard’s Card Wizard issuance software. The system promises instant issuance of Debit & Credit cards. Datacard believes that an instant embossed credit and debit card measurably improves activation rates and the overall card usage.

Multiple applications, including Financial Instant Issuance (FII) in financial applications, and Retail Instant Issuance (RII), in retail and dual branded FII/RII applications of Datacard Instant Issuance system have been put in use. There are use cases with large financial institutions, retail stores, on the loyalty, and dual-branded credit applications front. Over 3000 systems have been deployed by Datacard group. The State Bank of India uses Datacard services for its SBI Intouch Project, China Everbright Bank, US-Chase Bank, UK-Barclays Bank are some other prominent users of the system.

FEATURES

The system offers features such as standard embossing, indent printing and magnetic stripe encoding, EMV compliant smart card personalization, six-compartment input hopper, direct-to-card printing and a touch-screen interface and full-color.

Datacard CE870 is the industry’ first technology providing multiple personalization features such as embossing, front and rear indenting, thermal printing along with mag stripe and EMV chip personalization. The personalization supports 3DES/AES encryption standards as per VISA / MasterCard instant issuance guidance. The CE870 is also equipped with multi-hoppers (up-to 6 nos) facilitating automatic feeding of cards (configured using software) based on the customers requirement. Software operated locking/unlocking is a unique feature of CE870

BENEFITS

Analysis has determined that instant issuance over the life of the product with customer value add out paces central issuance costs. The CE870 provides a customer service value advantage, and over time reduces the costs incurred over a central issuance system. For the Executive Management the benefits include a higher ROI and ROA. The device works as a competitive differentiator, improves portfolio performance, which is realized via operational cost savings and improved metrics.

For the Product Marketing team the benefit includes an increased brand appeal amongst the target segment, increased- market share, activation and usage. The device also enables the product marketing teams to use the device as a new acquisition channel. The operations team is enabled to perform better, as the device promises a higher operating efficiency, higher tail tooth ratio, reduction in postage expenses, and small batch runs. The device eliminates the need of PIN mailers and re-issuance hassles.

A Branch/Retailer can offer a consistent customer experience, thereby generating higher revenues, increased customer satisfaction. Retailers are powered with an opportunity to cross-sell other products, which further creates a positive customer experience.

Instant Card Issuance


CATEGORY: FINANCIAL INCLUSION

OVERVIEW

In recent years, India has witnessed development which has made it the second fastest growing economy in the world today. But, providing financial services to more than 40% of the population, living in the rural areas and bringing them in the financial mainstream still remains a challenge. To overcome these impediments and help the banks in the journey of Inclusive Growth, HCL Infotech has brought about its business and technology capability. Their financial inclusion initiatives have resulted in 4.75 mn enrollment across 20,000 villages which has been achieved with their network of 9000 + business correspondents.

HCL’s has utilized best of breed ICT tools and solutions and front-end devices for their financial inclusion initiatives.

FEATURES

HCL financial inclusion components run on front-end devices capable of reaching out and delivering services to remote areas inaccessible to traditional banking network. HCL Micro ATM’s come with inbuilt biometric authentication, smart card solution and multilingual voice guidance facility that uses GPRS / WiMax / VSAT technology . The device comes with printer and magnetic strip reader to process the banking transactions by connecting to Core Banking System. It has an extensive online transaction processing capabilities, supported by a robust synchronizing engine

HCL kiosk banking solution is a one- stop mobile solution for enabling door step banking through use of smart cards and simple ICT tools like laptops, web-cams and battery back up devices. On the BC network front, HCL has set up a complete ecosystem for the BC to ensure they are trained and equipped to support customer registration, cash transactions and service both inquiries and requests. These BC who act on behalf of the bank also offer services like loans, insurance, pension and other third-party

products to the smart-card holders at their doorstep and as per the card holders’ convenience.

HCL brings on board capabilities in the areas of technology, strategy for customers on-boarding and delivery through channels ranging from laptops to specialized hand-held devices. On the IT Infrastructure Management solutions front, the solutions offered includes Data Center Management and Support, Network Support, Enterprise Security Service, End User Computing like Desktop Services, System Management, Directory Services etc. HCL technology ensures maximum uptime, high availability, quick response and efficient operation of the installed IT equipments at various remote locations.

BENEFITS

For Banks, more than 4.75 mn new customers have been added for 19+ public sector banks spread across 25 states in the financial inclusion drive. HCL has extended banking services reach to 500+ districts and 20,000+ villages resulting in more number of banking transactions. The Operational cost for providing banking services has been reduced by 70% vis-à-vis brick-and mortar model. HCL’s solutions also enabled extending banking services to unbanked regions using intelligent devices communicating GPRS giving more customers and higher reach.

The solutions provided new revenue models in the financial inclusion business The benefits to Business Correspondents include, creation of new jobs and entrepreneurship for more than 9,000 local agents who were either retired or jobless youths. HCL provided a consistent monthly income ranging from Rs 5,000 to 15,000+ on a revenue shared model.

Some of the societal benefits include, providing customers easy and secured access to 19+ large public sector banks and regional rural branches and extension of banking services such as savings bank account opening, cash deposit/ withdrawal, funds transfer, Micro-credits, loans, insurance etc on HCL’s Micro ATM device.

Financial Inclusion


CATEGORY: BACK-OFFICE SOLUTION

OVERVIEW

IDEA Imaging is a web based Image Capture, Processing, Archival and Retrieval solution designed to facilitate loan processing and on-boarding by Banks. It was launched in April 2011 at HDFC Bank and has proven itself to be reliable and scalable in demanding environments with a large user base.

Approximately 2.5 lakh to 3 lakh imaging units per month - are now processed through the IDEA Imaging process.

Regardless of the system in which the loan originates and the form of its origination - image or non-image based - the images of all the disbursed loan documents are archived in IDEA Imaging Retail Assets Storage. Web-based scanning and indexing are accessed by users at more than 25,000 DSAs across India; thus making paperless lending process faster. IDEA Imaging has successfully cleared various load tests, data and application security tests Cleared the critical Soak Test with a 98.88% result for 500 users, 1700 logged-in sessions during a 1 hour 30 minutes run.

FEATURES

IDEA Imaging enables Banks to provide Web-Based Paperless Loan Processing. The suite helps distribute scanning of loan files to DSAs/Branches. Loan files can be scrutinized before submission to back-office systems to identify document inadequacies early, thus reducing overall processing time. The scanned documents provide access and transparency at all stages in the enterprise loan origination process. The suite is integrated with Loan origination systems such as Nucleus Software’s LOS and LaserSoft’s SME system.

The Waves SOAP Interface with Apache Axis2/Cframework is a seamless Web Service and can seamlessly interface with the Bank’s enterprise loan origination systems.

The loan Documents are stored in a Digital Archive that serves as a long term

image storage and retrieval platform for the entire collection of Retail Assets loan documents.

The central processing corrects and revises document images in a secure and controlled manner. Customer Signatures can be cropped from loan application form for future-referral checks, authentication and improved & secure customer servicing.

The suite provides a real-Time Dashboard and reporting structure. Reporting feature provides detailed and historical data needed to ensure optimal performance over time. A reverse proxy ensures safer internet access.

BENEFITS

Intangible benefits include low cost of ownership with low infrastructure needs and embedded database. Changes in business rules are deployed on the server and so application change requests can be rapidly deployed with no client side deployment requirements. The suite has a CIO/Security Maker-checker out-of-the-box with complete audit trails that enables most security checks. The suite has an embedded database with no external querying window implies captured data is made available only in well-defined contexts. Business Users are enabled with features that allow rapid customization to meet changing market or regulatory needs. Real time dashboards make the task of operations’ supervisors easier. Low training requirements allow for capturing tasks to be easily scaled to manage peak business volume surge.

A rapid Turn-around-time on loan application helps win customer satisfaction. The scanned documents can also help in eliminating human error and possible document loss. High responsiveness leads to the likelihood of customer references and additional business. The process therefore leads to a positive impact on dealer’s loyalty owing to the quick turn-around-time. IDEA Imaging Solution has an immense impact in crunching retail asset Turn-around-times for capturing and processing loan applications.

IDEA Imaging


CATEGORY: ATM SOLUTION

OVERVIEW

The government and regulators expect ATM as a channel to transfer subsidies and other payments. However the big sized ATM’s in a dedicated room consume a huge infrastructure which is capital intensive. Hence an Opex model is the only available option. Conventional ATM therefore make the government programs slower to adopt.

Leo primecomp’s Star Series- is a full fledged desktop ATM. It is next generation cash dispensing machines made with proven and best technologies to meet the country’s growing demand and challenges. A technically superior ATM, called as the i-ATM (intelligent ATM) addresses the needs and challenges of the country through technology and innovation.

In addition to the existing technology of the current generation ATM’s, these ATM’s have advanced technology such as wireless connectivity, and components that enable security, cost-effective measures and are compliant with green energy requirements.

FEATURES

The next-gen ATM has a 15.6” screen, encrypted with Pin Pad- FDK keys and compliant with PCI standards. The ATM offers a dip type card reader, receipt printer, 2 cassettes with 50 notes in one spray capacity, and dispenses notes at a speed of 5 Notes/sec. The ATM communicates via USB, Bluetooth, TCP/IP, 2g/3G, Wifi and biometric. It can operate on Windows 7 and 8.1.

For a Bank/white label deployer, the ever increasing rentals, electrical charges and challenges associated with security pose as major hindrances in the ATM growth. The star series desktop can be kept on a desk/hung on a wall and hence seek lesser rental than a conventional ATM placed on ground. A hybrid power mode ensure that

the ATM for its 90% operation will work on non-conventional sources in sunny areas. The system works on hybrid solar, does not require security guard, saving a huge opex cost. The CDM comes with advantages to the services teams such as self note calibrator, reduced usage of wear and tear materials and hence an occurrence of note-jam is minimal.

BENEFITS

The design enables lower Capex as compared to the 2 cassette CDM (cash dispensing machine) available in the industry today and hence enabling more ATM’s for the country. Star series ATM provides a 30% savings in Capex expenses. The ATM has been deliberately designed to cuts usage of plastics and use of MS wherever possible. The solar-powered ATM, on account of its light weight minimizes the amount of wood/paper used in the packaging and is therefore lighter.

The ATM have been equipped with an Alert system, when the ATM’s are in need, the alert systems get into action through hooters, SMS, email and Phone. The ATM have been configured to recognize motion and take intelligent actions. The ATM has been configured to stop transacting when it encounters masked person, more than one person transacting, and an unwanted violent action noticed in and around the ATM. The ATM has been designed to send automated SMS, email, and photo captures to a designated person in charge of the services. In the event of an attack, the ATM transmits SMS commands from a designated person, to activate standards such as an allowed electric shock to prevent mis-use and damage on an ATM. In worst case scenarios, the inbuilt GPS helps track the ATM.

i ATM (Intelligent ATM)


CATEGORY: CALL-CENTER SOFTWARE

OVERVIEW

InterDialog is a unified contact center suite from Teckinfo. The suite is a reliable and robust solution for managing inbound, outbound and blended contact centers. The highly efficient telephone, process workflows and networks make the product scalable, and easy to manage contact centers reaching upward of 1200 seats per setup.

FEATURES

Teckinfo’s InterDialog UCCS consists of intelligent dialing engine(Predictive Dialer) which connects live customer calls to the telecaller thus increasing the productivity. There is a configurable retry mechanism , which helps to keep on retrying the non contactable numbers as defined thus ensuring to connect with the customer . There is a provision to assign/un-assign set of leads to set of agents, based on skill-sets etc. without hampering the general operations. In built scheduler ensure that all the call back/ follow up cases gets addressed on the scheduled date/time. A supervisor console gives live status of all telecallers of his/her group ,thus enabling the supervisor to take corrective action. In case if any telecaller exceeds the defined business thresholds the supervisor can thereby bring in discipline and therefore more productivity.

Built in voice logger ensures a high quality voice recording of calls and tags the record file with additional parameters of business importance. Reports such as call wise, telecaller performance wise, can be used to analyze the performance. Auto email scheduler sends a set of critical reports from each location to a concerned business head, thus eliminating human intervention and dependency to get critical business data on time.

A utility installed at central office helps

the business to automatically allocate and upload lead list into the dialing software CRM designed and developed in line with the business needs, ensures the complete automation of collection process and eliminates all inefficiencies and errors and giving various reports to the business. Teckinfo‘s InterDialog UCCS is a made in India product of international standards.

BENEFITS

InterDialog helps achieve a complete automation of business process. The CIM (Customer Interaction Module) can be 100% Customized. A Central Management of Data saves time and eliminates errors. Therefore the tool leads to better utilization of Manpower, increased productivity, automation of key reports, and sizable increase in collection. These lead to an ease in business operation.

Since the system has used better CTI tools, there is an Automatic and faster dialing of data by the system. This further helps distribute data to remote locations instantly. Intelligent algorithm in the system enables sort dialing process on the basis of descending order from high value to low value collections. This enables to recover major chunk of money earlier in the month and then concentrate on low values, which helps to achieve business target in a scientific way.

Supervisory features in InterDialog helps the floor managers to view status of every tele-caller in real time and take corrective actions instantly. Businesses can leverage from the abundant reports to create a multitude of analytical reports and take mine insights to take dynamic decisions. An automated voice blasting feature helps to remind overdue of payment to the customers, without human involvement, thus bringing the targeted revenues from sincere customers, who missed the payment cycle due to oversight or busy schedule or other genuine reasons.

Interdialog


CATEGORY: MOBILE PLATFORM

OVERVIEW

Juspay Safe is a Payments-focused mobile Browser specially designed for banking websites with a clear focus on improving security and user experience. Currently Makemytrip, RedBus, and TickerGoose are few of the non-banking clients that utilize the browser.

Unlike conventional browsers that cater to generic use cases like online gaming or social networking, the Juspay Safe browser has focused on banking websites and innovated on client side security methods to protect banks and consumers from growing threats and vulnerabilities in the mobile internet space.

FEATURES

The browser is safer and is easy to use. Juspay Safe follows minimalistic design principles that streamline the Cards and Net Banking payment process with innovative features like OTP helpers, Password Keyboard, 2G network optimization. This reduces the transaction time to less than a minute even on slow networks.

Consumers transacting through the browser benefit from, Easy navigation, visually appealing user-interface, capability to choose a relevant keyboard for mobile devices depending on input type. First-time online shoppers receive instantaneous help. The application is network optimized, 2G users enjoy smoother flow and higher success rate. The UI for simplifying OTP input reduces the number of steps and eliminates app switching.

Single click PKI authentication in partnership with banks provides unparalleled user experience.

BENEFITS

The innovation helps incorporate an Industry First Advantage. Increased conversion leads to more revenue. Merchants incorporating Juspay Safe into their mobile apps have seen up to 10% improvement in conversions. That is a reason for rapid adoption with all important merchants in India. Connected Smart-phone users are growing exponentially and Juspay Safe is poised to help merchants capture this potential.

The cost of managing cash is estimated to be 2% of the entire GDP. Juspay Safe catalyzes exponential growth of mobile payments. It has the potential to take our economy into the cashless future. The right security measures can create an efficient electronic banking system without physical infrastructure requirements.

Retailers accepting conventional payment methods such as cash can reduce their Cash on delivery footprint. On-line businesses starve today due to the inefficiency of ‘cash-on-delivery’ approach which has higher operational costs and customer/operational frauds/disputes. Improved Mobile Payments is the key stepping stone that m-Commerce is waiting for to improve their share of prepaid orders. Juspay’s mobile browser helps retailers bridge the COD gap.

JUSPAY


CATEGORY: FI PLATFORM

OVERVIEW

CB Konnect platform provides a common payment aggregation and gateway platform for government and partner payments. CB Konnect platform provides for the configuration and management of various bank’s government schemes and payments channels. This helps banks reduce the effort on customizing core banking systems. The platform also manages, encrypts, validates and transforms at its layer thereby reducing the stress on core banking systems. CB Konnect provides banks a single unified platform for points of integration.

CB Konnect helps overcome challenges faced by banks such as huge volumes of transactions. It additionally enables overcome the custom integration aspect with technology protocols in payment mechanisms of the PFMS and State Govt that can be referred to as ‘point to point’. There is a considerable time loss to respond to government and regulatory requirements. The integration expertise on payments systems is complicated which thereby leads to additional challenges for quicker turn-around. CB Konnect helps overcome these issues.

FEATURES

The platform has a Web UI integrable with bank infrastructure for ease of use. It is intuitive, can validate data related to transactions to reduce human errors, and provides a rich dashboard for monitoring and managing transactions. Having been designed on a service based architecture, it has the ability to adopt to the banks business needs and demands. The platform offers a STP for transaction processes thereby reducing errors in transaction processing. Being built on financial standards, it adheres to regulatory requirements. It is currently live and operational with banks and can be leveraged as a middle ware for government payments and receivables.

The Service based architecture of the

platform provides support with API’s and service based approach allowing for quick integrations across CCBS and other systems. The platform due to its plug and play adapters and validation and transformation interface, has reduced the cost incurred by banks to modify CBS.

It also supports DSC (digital certificate) based payments for various service offerings, thereby eliminating the need to have a PPA (Print Pay Advice) requirement. Also with a work flow engine, approvals are also available on the platform UI reducing the need to procure physical proofs. CB Konnect encapsulates and integrates payment mechanisms for PF, Escroll, NPCI e-KYC, Midday meals, and state government treasury collections.

BENEFITS

A total of 54,20,114 transactions have been put through until January 2014 and Rs 628 crore has been transferred to the Government Subsidies background. Rs 3,370 crore has been transferred to 2.1 crore LPG beneficiaries. Public Finance Management System (PFMS) has active interface with 90 Banks. Of these there are 26 PSBs, 59 RRBs and 5 large Private Sector Banks. Less than 4% of the total amount transferred is through DBT which has accumulated to 54 lac transactions in a year. The suite serves as a common gateway solution to all government payment businesses and can support over 800+ government schemes.

Few additional benefits are as follows,

1) Preferred Government Payments Integration platform in over 10+ banks

2) Preferred middle ware for CMS, NPCI, eKYC and UIDAI integration

3) Ready to deploy platform in the government payments and channel integration

4) Achieved “Zero Data Gap” consistently with PFMS

5) 4-6 weeks implementation

6) Product Architecture Reviewed by Microsoft.

CB Konnect

mindgate

Delivering Innovation

TM


CATEGORY: FI SOLUTION

OVERVIEW

Mistral’s Money Mobility Suite enables mobile-banking, agent-banking, mobile-money and mobile-POS solutions to reach the next billion consumers in the growth markets. The mobile phone is revolutionizing the economies of financial service. Whether a financial institution, banking agent, retailer or mobile operator, one cannot afford to under deliver on mobile offerings.

The money mobility suite from Mistral Mobile provides mobile financial services front-end platform which works on any phone, network and anywhere- allowing banks to reach and serve more customers, faster and more cost-effectively than ever before.

FEATURES

Mistral mobile solution removes the challenges of a constantly evolving marketplace by supporting every major mobile interface, for example android phone and tablets, Java-enabled phone, i Phone and i Pad, Blackberry, Windows Mobile, Symbian, voice-only phones and mobile browsers. The various solutions built on top of money mobility suite for different customer needs include m-banking solution, m-agent, m-POS and m-Money solution. m-Banking Solution is an emerging market bank account access solution that enables consumer retail banking services to everyone on their mobiles.

m-Agent banking is a complete agent banking solution to enable the rapid, cost-effective roll-out of agent services everywhere. m-Money Solution is a complete ready-to-deploy mobile money solution for mobile money and payment service providers, while m-Pos solution is an emerging market-specific retailer payment acceptance tools for fast scaling of the acceptance network.

Mistral Money Mobility Suite is currently implemented and operational at Adarsh Credit Co-operative Society. Other features

of the service include increase operational efficiency: The tool is online Everywhere, optimizes Branch Operations, address and better float management, increased customer confidence. The tool helps build higher trust with customers.

BENEFITS

Mistral Mobile promises increased revenue. Anywhere financial services: with or without data connection. The advantages are as follows:

1) Reduce Cost

2) Lower customer support through improved interfaces

3) Lower telecommunication costs versus alternatives

4) Reduce core system costs for operation and equipment

5) Reduce risk with industry leading and patent pending security

KEY BENEFITS

The bank claims the following early benefits as a result of introducing the concept in the country:

(i) Increased Teller Productivity as tellers will no more be required to do cash counting, sorting, counterfeit note detection, BOD/EOD checks, elimination of physical cash movement et al;

(ii) Innovative branch design – Smart Teller Assist makes for an ideal solution to small-area-branches as it eliminates the requirement of having a cash storage vault, physical teller pedestal, cash counting, counterfeit note detection machine(s) et al;

(iii) Improved customer experience as customers get undivided attention of a teller who is no more spending time on counting, sorting et al. and customer gets only clean notes in the process and

(iv) Improved controls and security - all the counting and verification is conducted inside the recycler, minimizing the time that cash is exposed. The machine provides full note tractability and automated reports.

Money Mobility Suite


CATEGORY: GREEN-IT HARDWARE

OVERVIEW

Indian made DSK mobiliz is a product that strikes perfect balance between cost and functionality. The device is a mobile laptop that functionally and aesthetically works as a laptop with the features of a mobile phone. DSK mobiliz has been designed as an affordable information device, feature-rich with high-power efficiency. The device has a unique use-case for financially strapped rural Indian market. The rural Indian market is one that observes frequent power outages, network and infrastructure challenges.

The device is intended to reach the millions of rural Indians who may have never held a computing device in their hands. DSK mobiliz features capabilities such as INTERNET applications, open office productivity software, multimedia for essential computing usage in open source architecture.

FEATURES

The device is powered with an OMAP 3503 ARM Cortex A-8 @ 600Mhz CPU. The device has a 512 MB of Mobile DDR RAM coupled with a 4 GB eMMC inbuilt storage. The storage can be further expanded via external mediums such as cards. The Display Device is a 7.0” TFT LCD which sports a 480 x 800 WVGA resolution with 256K colors. The display panel consists of a Resistive Touch screen.

The standard Built-in peripherals includes two USB 2.0 Host Ports, a Wireless LAN Interface, an Ethernet Port, SD/MMC Slot and a 2 Mega Pixel CMOS front Camera. The on-device keyboard sports a QWERTY look with 80 Keys. Optional peripherals include Biometric Sensor, GPS Receiver, Dot matrix / Thermal Printer, CDMA / GPRS USB data modem.

BENEFITS

DSK mobiliz is ultra low weight (approx 900gms) sturdy, slim, a unique design that enables the LCD display to be laid flat or to be angled to give best viewing when used on a lap or on any surface. The easy to use touch screen feature makes it absolutely user friendly.

The device utilizes green computing standards to efficiently power the device. The components have been chosen with a focus on low power consumption with no compromise on performance. The unique feature of DSK mobiliz is a low (3.5watts) power consumption as well as solar-photo voltaic operation with a small (A3) solar-PV panel for regions where power is scarce. It has battery life greater than 6 hours which makes “field use” possible for a full work shift.

DSK mobiliz has high security transaction capability with provision for smart cards, biometrics and has a rich set of connectivity features of CDMA, WiFi, GPRS, GPS Ethernet, etc.

DSK mobiliz


CATEGORY: MOBILE PLATFORM

OVERVIEW

MoneyOnMobile application is an android app which offers convenience to customers for making easy payments to their financial transactions such as utility bills, recharges, DTH etc. A customer can either download the MoneyOnMobile app from their website or via the Google Play Store. The application is India’s first multilingual application that supports ten languages and is designed to be quick and easy to use for consumers across all geographies in India. Over 500,000 M-Wallet consumers are currently using this service.

FEATURES

Money On Mobile is a service aimed at bringing quick, simple and efficient mobile payment solutions. MoneyOnMobile enables purchase of goods, making easy payment top-ups, payment of utility bills, DTH recharges at the click of a button using its Digital Wallet.

MOM (Money on Mobile) service is capable of performing micro financial transactions at any mobile phone, and is bank/operator & technology agnostic. MoneyOnMobile offers a vast range of services on real-time basis, irrespective of geography, time and mobile operator of the customer. The service reliability is excellent in comparison with service providers such as Ypaycash, ItzCash, Airtel Money and Vodafone mPesa since it is based on SMS, which is a basic telecom service. It is network Agnostic, hence can be used by consumers irrespective of their network operator. Consumers are not required to share any bank details and can transact from any of the 220,000 retail outlets across India and pay cash to load their M-Wallets. Consumers do not require a smart phone, a basic handset with SMS capabilities is all that is required to make payments via MoneyOnMobile.

BENEFITS

MoneyOnMobile’s M-Wallet instrument is safe and secure. It is PASA Compliant. Customers are provided with an M-Pin (Mobile Pin) to log in and T-Pin (Transaction Pin) to make a transaction. The M-Pin & T-Pin are not stored on the user’s device. Hence the process of making payments is not only convenient but is also secure.

The MOM application which was the recipient of the “Best Mobile Wallet” award at The Emerging Payments Awards held in London is extremely scalable and easy to deploy. The mwallet app has also won the AEGIS GRAHAM BELL AWARD – 2013, in the category of Innovation in m-Money. The MoneyOnMobile application is capable of integrating across various technology platforms like LINUX, WINDOWS, and JAVA etc. and has successfully integrated with more than 30 companies. MoneyOnMobile platform gets seamlessly integrated with any of clients existing platform ensuring minimal change in the existing infrastructure, thereby incurring minimum cost.

Retailers can utilize the MOM application to make payments on behalf of the consumers. Payments are made in real time hence there are no delays for retail consumers. A single-touch selection for option of payments, makes payments faster and easier for. A multilingual application adds convenience for retailers across all geographies in India. The cost of Infrastructure in comparison with other players is Nil when using MoneyOnMobile application. Retailers can use their existing mobile phones to utilize the MOM application for transactions. Training, Transaction and acquisition costs are almost nil. The cost of transaction is one tenth that of a conventional payment mode.

Additional benefits include Reduction in Q’s at Client counters and overcoming the burdening challenge of cash and currency related challenges and expenditures for banks and retailers.

Money On Mobile mWALLET


CATEGORY: FRONT OFFICE

OVERVIEW

MOSA Pay is short for Mobile Salary Payment Solution. MOSA Pay is an easy online salary disbursement solution on mobile phones, designed for the needs of small and medium enterprises (SMEs), having a strength of 50 – 50000 direct or indirect employees. Digital prepaid payment instrument, also called Digital Wallet, are the latest innovation in financial product offerings. As per an RBI guideline, open system payment instruments can be used for purchase of goods and services and also permit cash withdrawal at ATMs.

The application has been developed as an employer friendly technology solution with an agile and customizable cloud software as a service (CSaaS). It uses Union Bank Money prepaid payment platform, residing on a mobile phone, to create digital salary linkage between the employer and employee. The employee account can be opened in minutes and ATM card is issued on the spot.

FEATURES

MOSA Pay CSaaS assist employers to manage monthly salary transactions in a digital way with ease and simplicity. The salary gets credited in the account as per the set / standing instructions on the specified date. Employees can avail DTH, Mobile Recharge and Bill Payment , Free of service charges. Employee Money Transfer charges are very competitive with respect to Remittance market .

The application allows financial and utility payment transactions through mobile phones, even without Internet connectivity, anytime and anywhere. It enables customers to store money in a digital form, and provides convenient and secure use through transaction m-PIN, OTP and SMS

receipt. It provides range of other mobile money services like cash deposit and withdrawal, money transfer, etc.

BENEFITS

The client (employer) gets a complete digital salary management solution. The cost per transaction charges depends on the employee strength and therefore gives more value for every new employee registration and salary disbursement.

The tool helps move towards a truly cashless & paperless digital ecosystem. An account can be opened on-line with minimum paperwork; Registration Form and KYC documents can be scanned and uploaded too.Employees can rotate the digital money in mobile account for various other services. All transactions are reported with an SMS receipt. It is therefore easier for the employer and the employee to manage, maintain and keep records. Additionally the clients can store these records in digital format MOSA cloud.

MOSA PAY


CATEGORY: FI SOLUTION

OVERVIEW

MYFI2 is a hand-held device manufactured by DSK digital. The device has been created with a purpose of finding a technology solution in the current financial inclusion program. The solution is meant to extend banking products across nation, which arise due to lack of banking infrastructure. The solution enables highly secured intra-banking services such as off-line and online account opening of various products like savings account, recurring deposits, fixed deposits, OD and local authentication through a smart-card, centralized authentication through biometric, and e-KYC across the nation. Off-line solution is offered as per IDRBT standards and online solution is as per Micro ATM 1.5.1 standards. This solution is equipped with multi lingual GUI voice & print capabilities.

The solution developed by DSK digital offers various business channels to Business Correspondents and therefore empowers them as an entrepreneur. The hand-held used in this solution is light weight & is designed ergonomically with integrated interfaces, which additionally makes it easy to use and service customers door to door.

FEATURES

The device has a 7” TFT display that gives sizable room to view entire enrollment forms category wise and also has a capability to be laid flat or angled for better viewing. Inbuilt input devices such as QWERTY keyboard, Touch pad, Touch screen can be added to increase productivity and to reach the achieve the targeted enrollment numbers.

The device is user-friendly, has multilingual capabilities and interactive icons which can be referred as intuitive even for novice users. A rear facing camera with angle adjustments helps capture clear enrollment photo. An inbuilt GPRS communication interface does away with carrying external dongles to connect on the net, these can handle enrollment as well as secured transaction in Financial Inclusion segment and

real time data transfer instead of conventional model of enrollments in laptop and transactions in POS terminals. The device is powered by a portable solar- photo-voltaic panel which promises an uninterrupted power supply.

BENEFITS

The solution provides device management, BC management and various MIS tasks related to operations and technical teams. The 900 gram device consumes 3.5 Watts and dissipates less heat contributing to GREEN environment. Compared to a conventional laptop that consumes about 100+ watts the MYFI2 device offers a backup of more than 5 hours. It has an option of using portable solar power for charging as most of intended applications would be in rural parts of the nation which has intermittent or absolutely no power supply available. Several environmental tests were certified by the standard testing quality certification for the device on parameters such as ability to withstand vibration, humidity, dust and water.

Numerous communication and connectivity interfaces enables integration of various external and internal hardware such as biometric, Thermal printer, camera, smart-card, SAM card, GPRS, wifi, Ethernet, USB modes, MSR and PIN-PAD, EMV, NFC. The device has been built on Open source standards, is platform independent, and the overall architecture empowers integration of various financial inclusion gateways and switches.

The need and dependency on local money lenders is eliminated which thereby curbs social evil. Secured transactions wins the trust and confidence of maintaining their accounts. The solution is a platform for business correspondents to embrace digital technology with ease and confidence. BC outlets acts as a delivery channel for various business which turns BC to an entrepreneur. For banks, the device is a cost-effective infrastructure that can be extended across nation. BC gets to act as a business facilitator for bank to promote additional banking products and loan recovery.

MYFI2


CATEGORY: FRONT OFFICE SOLUTION

OVERVIEW

The cost to a bank for transacting at the branch is almost 10 times the cost of a mobile based transaction. The share of mobile based transactions is steadily growing which in turn reduces operational costs. OmniEnterprise mobile banking app caters to the daily needs of banking services by providing easy access to a customer through a variety of personal mobile devices. In simpler words its a banking on the go application. The app covers comprehensive set of banking functions starting with simple account view to more complex transactions like inter-bank funds transfer. The solution also allows customized messaging from the bank to promote its portfolio of services, announce new initiatives and generally keep the customer engaged.

The app enables the customer to use the mobile device as a mobile wallet, allowing him to make various payments such as utility, mobile ticketing, entertainment etc using this solution. The app, once downloaded is self-installed. It takes the customer through easy registration process, post which the customer receives authentication code. The customer can start using the solution on completion of the registration process.

FEATURES

The day to day needs of a customer are serviced through a single app. It also provides mobile payment functionality from within the same app.

The application offers abundant and rich features. The app has a single registration process for mobile banking. It has an ability to set up multiple accounts with a bank linked with a single customer ID. It offers a simple and complex view of account balances and transactions The app can connect

with payment services wuch as IMPS from NPCI, and offer Bill Payment and management Service requests such as cheque book, pin change etc are offered through the app.

Besides the app offers location aware search capabilities and an enhanced security capability.

The mobile banking app works seamlessly on different operating systems and multiple versions. The solution can work on a mobile phone, tablet allowing customers to use a device of his choice

BENEFITS

A high level of traceability is provided through maintenance of transaction logs for audit purpose.

A middle ware tier has been designed to provide multi-protocol, multi-format integration capability for interfacing with external systems. From both the banking services as well as payments services perspective, the solution interfaces with multiple systems including the core banking solution, payment gateways, merchants, merchant aggregators, and other such systems. The security framework is designed to protect storage of data on the device as well as data in transit. The 2FA authentication further strengthens the transaction level security.

The mobile app helps reduce transaction cost substantially for a bank, having to pay in the range of INR 2-4 per transaction. There are no upfront solution or infrastructure costs which can generally be in the region of 10-25 Lakhs. Banks can leverage from an additional Revenue generation mechanism i.e. from merchant and utility There is a considerable 20% improvement in average account balance since the mobile based payments and funds transfer allows faster credit or in some cases near real-time credit.

OmniEnterprise Mobile Banking App


CATEGORY: COMMUNICATION PLATFORM

OVERVIEW

OCTOPUS is a functional enterprise social network (ESN) designed for use for entire enterprise- Senior and middle management, Ground level staff, and departmental groups such as HR, Admin, IT, Sales and Service groups. The tool has been implemented at the Polaris Group by Intellect Design. By being a functional ESN, the Octopus tool understand the basic needs of connect, communication and collaboration within an enterprise. It has direct impact on productivity addressing various enterprise pain points by aligning social to common enterprise business needs. Octopus tool has helped in progressive transformation of the enterprise by way of replacing internal e-mails with interactive conversations,

FEATURES

Octopus equips an organization to keep its work force engaged by making them visible, motivated, empowered, well connected, and addressing their unstated needs. All communication among employees for these aspects are handled by this functionality cluster. Most importantly, it builds a culture of “Just Appreciate” allowing any employee to appreciate any other on the spot with redeemable credit points with public visibility.

Octopus manages all project deliveries, customer interactions, knowledge-sharing, online collaboration and employee engagements across the business. 360-degree view and central information storage (Gold Copy) that Octopus enables, the organization no longer relies on email to record, deliver and collaborate on projects (100% removal of e-mail mailing lists, 98% removal of individual e-mails).

Project managers add customers to their project rooms to see ground reality and participate, directly leading to increased customer satisfaction. Social Flows lead to decentralized distribution of contextual decisions, eliminating individual

dependency. Zero integration between say ‘Procurement Team’ and ‘Finance Team’ by adding ‘Finance Team Room’ into a conversation.

BENEFITS

The productivity has improved by 8% and reduction in service / workflow times by 20% leading to increased profitability - Earlier, employees of Polaris Group would dig through emails, approach teammates to find documents, and history of some correspondence for information. Now they search through an always available centralized gold copy of a team (Social Rooms) or organization with entire history. The availability of knowledge circles has resulted in quick help from the organization at large. Social rooms within the Octopus tool provide an increased participation, transparency and an open kitchen governance framework for stakeholders. As such all decisions are made visible to room members. The ‘At a glance’ view through room walls, has made reviews transparent and non-disruptive. This has resulted in a 4% reduction in attrition due to increased engagement caused by people culture.

‘Common interest circles’ have helped to pursue social interests within the portal. Queries in ‘knowledge circles’ have led to identification of experts. Team rooms have no hierarchy with experts leading conversations in their area. Centralized bulletin boards with a chance to express and ‘like’ comments and new feeds. Internal job opening posts have provided internal opportunity exploration. The case of 100% business continuity with 75% reduction in employee on-boarding have led to new joiners looking at the appropriate conversations / documents to get started. This has resulted in reduced dependency. No hand-over of e-mail as a business process has resulted in risk-free business continuity. Polaris group as such has leveraged from the custom-built tool to build an 80% increase in organization innovation quotient.

OCTOPUS


CATEGORY: BACK OFFICE SOLUTION

OVERVIEW

Dadajee Dhackjee is the sole business partner of Welltec System’s South Korea for Pressure Seal Systems used for generating PINS on laser printer. This is a first in Indian market. Automatic pressure seal pin mailer has narrow bands of pressure sensitive glue specially imported from Japan, which when applied pressure creates a complete and secure seal .This technology eliminates manpower, folding and stuffing by hand man hours, envelopers and thus reduces cost of pin mailer courier.

FEATURES

The Conventional PIN Mailers are glued with Regular Glue resulting in the Paper getting stiff at the Folding Perforation because of which the Printer gets jammed and number of PINS are wasted. In the PIN solution, utilizes a pressure seal glue and the PIN sheet is in a sheet Form therefore there is no waste of paper resources.

Conventional PIN Mailers are glued resulting in paper stiffness at the folding perforation. Printer gets jammed and a number of PINS are wasted. With this solution, pressure seal glue and the PINS sheet would be in sheet Form. Banks either use a Dot Matrix or a Line Printer which is impact printing. Many a time due to wear and tear, printer head digits like 3 & 8 are not legible. The user of the PIN is unable to recognize the digit resulting in failure of transaction. This solution prints through Laser printer where the impression of digits would be sharper. clear and legible.

BENEFITS

In conventional PIN, the paper is per-carbonized inside the Sealed portion of PIN. Many a times the carbon inside the said sealed portion gets dried and hence the PINS that are printed are not readable. In this solution there is no carbonizing at all. With conventional PIN, any human pressure at the carbonized portion results in the carbon-impression getting transferred on the place of PIN. Due to the blackened portion, the Pins are not readable. The lay out design offered by Dadajee Dhackjee enables banks with space for advertisement on the Pins stationery.

The pin mailer saves time, costs, is environment-friendly and has an aesthetic appeal. Banks can utilize the ensuing PIN space for branding benefits too. The other intangible Benefits include a better presentation and marketable ATM debit and credit card pin mailer which can lead to a better customer experience.

Pressure Pin Sealer Sealer


CATEGORY: TESTING SOLUTION

OVERVIEW

STARC that stands for Sistema de Teste Automatizado por Reutilização de Código / Automated Testing System with Code Reuse is a High Automation Software Test Management Framework developed by Grupo HDI. It is fully integrated with all of the best software testing tools available in the market such as Compuware, IBM Rational, HP Mercury, Borland, etc. and provides user interface for requirements and test modeling. It generates all required artifacts for test execution, documentation and has dashboards and productivity reports. It is fully compliant with quality standards and norms such as SOX, CMMI, TMM, ISO etc.

FEATURES

High Automation Software Test Management Framework. It is integrated with all of the best software testing tools available in the market Eg. Compuware, IBM Rational, HP Mercury, Borland, etc. The tool is compliant with quality standards and norms like SOX, CMMI, TMM, ISO etc.

Other key features include

1. RTM

2. Modelling

3. Object registration via OCR

4. Simple test matrix generation and script generated automatically in accordance to test modeling

5. Integration with multiple automation tools

6. Automatic IVR tests, ATM & POS tests using robotic arm

7. XML file validation, and file generation according to predefined layout

8. API, Web Service testing

9. Automatic generation of technical tests

10. Table structure register and Table data validation

BENEFITS

IT teams can focus on business rather than test preparation and execution. The framework provides constant feedback, updates and application of standard norms and best practices. Changes within the system overtime cause minimal impact to productivity. The framework automatically monitors and scans for new changes in the code 24/7. Test data extraction can be automated, the framework auto-generates a Full-Error-data log.

All standard CMMI and TMM quality related metrics can be automatically generated. Months of test case generation, data preparation can be reduced to a few weeks across thousands of test cases. The framework offers full integration with existing documentation, control and defect management processes such as HP Quality Center (QC). The framework can leverage existing tools the customer may have such as HP UFT, or can be provided as a service also, providing the ability to use a specific tool that is best-suited for a customers’ environment.

STARC



OVERVIEW

TradeFree SaaS is a trade finance application solution that can be used on a pay-as-you-go basis. Users need not pay a license fee or a capital investment on servers and infrastructure. There is nothing to install on computer. Aditya Birla Minacs sets up the database; users just login and can start with the services.

TradeFree SaaS is a full function solution that fulfills all the business needs of a Bank and its corporate clientèle. It supports imports, exports, bank guarantee, remittances and export credit refinancing (pre-shipment and post shipment) needs. Bank’s end customers can have 24/7 access to the application enabling them to send requests, inquire status, generate/view reports, and more. TradeFree has won iCMO, Stars of the industry and NASSCOM top 100 innovations awards.

FEATURES

The service is powered with a high-speed Internet connection, and users can access their data from any device via the browser. Users have the freedom to work from anywhere and anytime—with real time communication and accuracy. The application manages all related infrastructure (example-daily backups on the host) and ensure undisrupted, secure service.

TradeFree SaaS also provides a customizable transaction work flow, configurable clause, limit and balance check and product wise cuff-off features helping the bank and its customer to enhance operational efficiency. The bulk uploads, exceptional approval, duplicate check, configurable notification messages reduce transaction processing time at bank and corporate.

TradeFree provides complete business functionality for corporate customer and Bank’s need. It includes Imports, Exports, Bank Guarantee, Remittances and Export Credit Refinancing functionality. The product

handles real-time limit, balance check, AML checks integrating with third party systems. Product maintains country and currency wise holidays.

The suite is easy to use, incorporates easy navigation menus, and minimal clicks. Is highly scalable being made available on a SaaS platform. A flexible architecture enables easy integration with CBS. It integrates with the Bolero Platform for Straight-Through Processing (STP). Such features help increase operational efficiency and reduce cost considerably.Being a browser-based product, there is no need for a client specific license/installation. The tool is platform and database independent as it is built on Java and related technologies. Multi-layered architecture supports extensibility.

BENEFITS

Configurable, automated workflows and workflow management enhances flexibility and operational efficiency, and reduces maintenance cost. One-time input of data at source supports Straight-Through Processing with middle/back office systems. Banks require minimal manual intervention as customers input data avoiding errors in data transcription and interpretation. LC applications receipts and digital payment instructions helps a client avoid paper applications and branch visits.

Built-in business validations (e.g. credit limit sanction checks as per international trade practices) reduce manual intervention and increase operation efficiency. Additional fields, configurable to need reduces change request cost. Automated alerts on transactions (e.g. updates and advices when back office processing is complete) increase operation efficiency and provide transparency to customers. Publish bank-to-corporate or intra-corporate messages help stakeholders informed instantly. Bulk transaction processing reduces operational cost. Digital signature authentication for secured and tamper-proof data transmission to banks make transactions highly secured.

TRADEfree


CATEGORY: BACK OFFICE SOLUTION

OVERVIEW

Veracious OASIS is an application development framework that allows users to create enterprise class content based applications from the ground up in half the time normally required and execute change requests with ease in days

Transaction Processing is available in most business solutions, however handling content has been a challenge. Documents are not the only content available applications– Email, SMS, Social Media, CAD drawings, Word PDF, around 250+ file formats are content rich and contribute to the decision making process of an organization. Each Content has its own purpose – post which it becomes dormant/gets archived. Today’s organization makes use of a combination of ERP’s, ECM’s, DMS’s etc, that need to be simultaneously updated and referred to make a decision.

This involves people, process and the content to be put together. For every transaction processing enabled business process - multiple copies of the same document / content are made to facilitate each business process, this in turn creates multitudes of problems. In addition to this, there is an enormous lack of standardization in application development, in the selection of technology, frameworks and coding language. Attrition rates are high in the software industry and maintaining code written by the Programmers after they have left is always a difficult task. Global software and solutions have found a solution to these problems. The solution is a content based business processes

automation that fosters collaboration within and amongst departments, complex work flows enabled with Case Management, flexible deployment models and accessible across devices, resulting in a quicker and well informed decision making.

BENEFITS & FEATURES

OASIS boasts of a series of benefits. OASIS provides a Content based Business Process Automation environment that pulls substantiating content of multiple file formats from multiple sources enabling well informed decision making and greater sense of control. Since it uses HTML 5, the application is web responsive that allows the user to engage with the application environment needing only the browser across devices, irrespective of the operating platform. The durability and reliability attribute of the product can be realized owing to the carefully selected technology stack and architecture that provides a dynamic, flexible, scalable environment.

The fundamental architecture of the product is supported by 5 engines that allows for a seamless integration with multiple core and sub systems that has been proven successful with numerous implementations. The standard approach to creating applications through the wiring methodology developed by Global Software and Solutions enables a minimal application development cost, and a smaller Go to Market Time frame, enabling organizations to take technology enabled solutions to their customers faster. The “Seed Once, Refer Anywhere” mantra eliminates the need to duplicate paper, thereby reducing paper consumption exponentially.

Veracious Oasis



OVERVIEW

Xelerate is the next generation revenue management and business assurance product which empowers financial services firms to create personalized offerings for their customers in real-time. Built on a highly scalable, industry independent platform with technology agnostic and bottom-up service oriented architecture, Xelerate enables banks to combine large volumes of customer and product performance data, including live profitability views, to make real-time decisions that enrich customer experience. Xelerate enables instant delivery of flexible, personalized offerings and bundles and reduces the time to market for new services.

FEATURES

SunTec’s revenue management and business assurance product suite, Xelerate (previously known as TBMS-F) was implemented as part of this technology initiative which enables DBS’s customers to perform real-time price inquiry for all cash-transfer transactions through multiple channels, such as Internet, mobile among others. This price inquiry provides the customers with transparency in the whole fee-calculation mechanism. Based on the price-inquiry results, the same fees and charges are levied once the customer chooses to complete the cash transfer transaction. The fees calculation for the price inquiry as well as for actual charging purposes is computed based on multiple customer and account specific parameters such as customer segment, average monthly balance, age, etc. and provides a unique, personalized pricing for the customers. The pricing engine takes the transaction record parameters and the customer profile information as input to arriving at the best matching price for the cash transfer transaction. Therefore

the whole process becomes completely transparent and the customer always gets the best price. Since this is apparent from the process, customer satisfaction and loyalty is enhanced greatly in addition to new customer acquisition.

BENEFITS

This project was undertaken to provide the retail and corporate customers with a faster and easier way to transfer funds within Singapore. For the first time, DBS retail customers are able to send personalized SMS notifications to payees when they use FAST to transfer funds. Customers also have the option for future dating FAST payment, up to 30 days in advance, and debiting their credit cards, in addition to their savings accounts. Retail customers can transfer funds via FAST online without any additional fees. Companies will receive notifications via email when a FAST fund transfer to their accounts is received or effected. Customers have the option of future dating FAST payments – upto 30 days in advance for retail and 90 days in advance for corporate customers. FAST is offered to all customers who are transacting on DBS IDEAL3.0. It is also a round the clock, real-time service, while payment methods such as MEPS or cheques are processed during business days only. FAST offers greater transparency of the payment types, and therefore payments can be managed more efficiently assisting companies in reconciliation of payments.

This project has already revolutionized the Singapore market. The fund transfers using DBS’s retail and corporate Internet banking platforms grew by over 13% from SGD 396 bn in 2012 to SGD 450 bn in 2013. Customers can use the FAST payments platform to customize their payments in any way they like – anytime, anywhere. It is a real-time service which allows customers to enjoy the benefits of payments immediately and therefore the adoption rate for this service is expected to be massive.

XELERATE


CATEGORY: RISK MANAGEMENT

OVERVIEW

Most mobile apps have started offering location based marketing services, Zumigo Secure offers anti-fraud risk management security system on top of its location based marketing services. Zumigo Assure offers a suite of security focused solutions that leverage mobile data to solve some of industry’s toughest challenges. It uses mobile devices to securely locate consumers at the time of transactions. Zumigo Assure offers multi-factor authentication for mobile devices, preventing the wrong people from accessing systems.

FEATURES

Zumigo Assure offers a suite of security focused solutions that leverage mobile data to solve some of industry’s toughest challenges. It uses mobile devices to securely locate consumers at the time of transactions. This data can be used to verify presence at a merchant for a financial transaction or proximity to a PC for secure login. This passive second factor verification is simple for consumers to adopt and for enterprises to implement. Zumigo Assure offers multi-factor authentication for mobile devices. It can be deployed as an SDK (Software-development kit) to the device or leveraged from the network. This product ensures that you know the device that is connecting to your network. This can be used to match a consumer to a mobile device, preventing the wrong people from accessing your systems. Zumigo Assure can also automatically fill out forms such as shopping carts or applications with mobile owner data. And with our partnerships with leading credit bureaus ti can even provide matching payment credentials ensuring a quick, simple transaction for consumers, while ensuring a secure transaction for businesses.

Zumigo is the first company to introduce a globally available product suite capable of leveraging data from mobile networks and device to verify transactions, devices, identities and support location-based marketing. Since consumers carry their mobile phones wherever they go, this is an innovation solution tot he challenge of confirming consumer intent.

BENEFITS

Financial organizations can leverage from the Zumigo application, to determine and validate customer presence during a transaction. The app can validate identity of a customer applying for a bank loan thereby helping prevent Fraud during the various business applications such as loan origination, mobile banking etc. Besides utilizing the app for a targeted marketing promotion, the app also helps create identity checks for OFAC and AML compliance.

The overall use of the app would enable banks to reduce customer dissonance and thwart fake transactions. Customer engagement is additionally enhanced since organizations would only send relevant promotional communication and messages and not expose customers to in-direct and irrelevant communication.

ZUMIGO Anti-Fraud Risk App