VSoft Technologies a leading Banking and Payments solutions provider for banking and Financial Institutions gives an over view of Cetrum Mandate enabled ACH Payments System and NACH platform of NPCI.
2. NPCI – NACH Objectives
A
Centralized Platform across the country
Harmonizes
Standard & Practices in ACH Payments
Consolidates
Provide
2
multiple ECS Systems across the country
National footprint to all CBS enabled banks.
3. NACH System Overview
• Facilitates interbank, high volume, electronic transactions
which are repetitive and periodic in nature.
• NACH Credit: Distribution of subsidies, dividends, interest,
salary, pension etc.
• NACH Debit: Collection of payments pertaining to telephone,
electricity, water, loans, investments in mutual funds,
insurance premium etc.
• Participants: Banks, Financial Institutions, Corporate and
Government
3
5. Mandate Initiation: Sponsor Bank
Customer Initiates Mandate
through Corporate
Sponsor Bank Initiated Mandate Flow
1
Verification &
approval of
mandates
Destination
Bank
7
Corporate
Corp. sends
2 mandate to
Sponsor
Bank
12
Updates corporate
with details
Returns Files 8
Send to NACH
Mandate status updated
in NACH
9
10
Mandate Status
Updated 11
Back-end
Digitization of
physical
mandates
5
Files Sent to
Destination
Bank
6
NPCI NACH Network
Returns file sent
to Sponsor Bank
3
Sponsor
Bank
4
5
Data & Image files
sent to NACH
UMRN
generated by
NACH System
6. Mandate Initiation: Destination Bank
Destination Bank Initiated Mandate Flow
Customer Initiates Mandate
through Destination Bank
1
Corporate
2
Corp. updates
database &
sends
8 confirmation
response to
sponsor bank.
Confirmation of
mandate status
sent to Destination
Bank 11
Destination
Bank
3
Updates
7 corporate
with
details
Mandate status
updated in NACH 10
Sponsor Bank updates
database & sends
confirmation
4
6
6
Verified
image/data
sent to NACH
NPCI NACH Network
9
Verification
& approval
of mandates
Back-end
Digitization of
physical
mandates
Sponsor
Bank
5
Verified files sent to
Sponsor Bank
UMRN
generated by
NACH System
9. Overview of Features
End-to-end Solution
Image Based Mandate Management Module
ACH Transaction Management Module
Fully Compliant with NPCI Guidelines
Easy Administration
•
•
•
Common Console for user setup and security configuration
Configurable Product-based ACH transaction processing
Corporates and Corporate Users setup
Comprehensive
Mandate
Management
•
•
•
•
•
Initiation and acceptance of mandates
Compliant with multiple scanner types
Intelligent image analysis, auto repair & duplicate detection
Outward and inward mandate management
MIS & Analytics
Comprehensive
ACH Transactions
Management
•
•
•
•
Outward and inward ACH transaction management
Wide range of transaction types – ACH, APBS, ECS and EBT
Rich MIS & Analytics
ISO 8583 Compliant Interface to CBS for ACH transaction posting
Value Added
Services
9
•
•
•
•
•
•
Corporate Interface for Direct Mandate Upload
Net position monitoring facility for Corporates
Automated alerts and feedback for Corporate users
10. Product Roadmap
Version 2.0:
Product Feature Evolution
• Charges Module
10
Version 1.0:
• Mandate Management
– O/w & I/w processing
– Lifecycle Management
– Archival & Research
• Transactions Management
– O/W & I/W processing
– Archival & Research
• Corporate Access
– Status Reports
– Transaction upload
– Itemized reports
– Charges logic
– Invoicing
• End user alerts
– sms alerts
– email alerts
• Customized Process Flows