SuVikas ECCS

TM

Core Banking Solution for Employees Co-operative Credit Societies

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. Murthy Veeraghanta
Chairman and Managing Director, VSoft Technologies and recipient of Business Leadership award from Indian.

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.

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 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 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. Set up thrift deposits Department-wise demand generation Multiple demand generations based on defined parameters 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 Set up customised welfare products like medical, fellowships etc. Cashier member receipts Cashier GL receipts Cashier employee receipts Cashier GL Payments Cashier Employee Payments Pay Bill Details Cashier Supplementary Payments Set up opening and closing cash management with denominations Receive membership closure application Authorise member closure

Welfare Module

Membership Applications Processing

Cashier Receipts

Member Loan Account

Payments:

Cash Administration

Thrift Deposits Demand

Member Closure

Recovery

SuVikas ECCS Functional Diagram

Touch Screen Kiosk Hand Held Device Mobile Banking Internet Banking

Delivery Channels

Deposits

Transactions

Administration Loans Clearing

Cash Withdrawal Transfers Renewals Share Transaction Remittance Cashier Transactions Local Clearing Outstation Clearing Cheque Post Dated Cheque Clearing File Based Clearing ECS Debit & Credit

Utilities

Financial Management Risk & Compliance

Product Definition Account Opening Account Closure Account Maintenance

Customer Lockers Information System Passing

Transactions Batch Posting Interest and Dividend

Report Writer

Shares

Reports

MIS Reports Customized On-Demand Reports Statutory Reports

Integrated Modules
Investment

Head Office Operations

Branch Definition Send To and Receive From HO Processes

ECCS Module
ECCS Accounts Demands

Membership Application Processing

Recovery

Member Loan Accounts

Welfare Module Customer

Thrift Deposits

Information Reports

Cashier Receipts

Shares

Cash Administration

Payments

Reports

Salient Modules in SuVikas

Savings 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 Accounts
Interest payment, use of debit cards, ATM cards, debiting charges, ability to link the account to Flexi Deposit products, personalized cheque printing.

Deposits
Fixed Deposits Provision to compute interest. Open a series of deposits at a time for a given customer. Pigmy Deposits Collection of deposits with handheld devices. Provision to upload data to the application. Recurring Deposits Provides interest payment so that small changes do not adversely affect the customer and also the benefit for early payment is not denied. Flexi Deposits Sweep-in and sweep-out facility based on the predefined limit available in both RD and FD formats.

Loans
Supports all types of loan products and related documentation-personal loan, housing Loan, consumer loan, automobile loans etc. Gold Loans Supports 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 Accounts
Supports 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.

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 Management
NPA marking, NPA movement, NPA registers.

Overdraft/Cash Credit Limit

Define, 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.

Investments
Account 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.

Remittances
Issue, cancel and realization of DD and Payorder. Supports AIMAS.

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

Clearing
Supports inward, outward and postdated cheque clearing.

Bills Collection
Inward and outward bills collection. Purchasing and discounting of bills.

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

Messaging & Alerts

Intra-bank broadcasting of messages and alerts across the bank, branches, or specific users for communicating to the staff about various communiqus and client-specific requirements.

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

Optional Features in SuVikas

Internet Banking This feature allows users to perform transactions, payments etc. over the Internet through the banks secure website. Customers can do their banking anytime, anywhere. Point of Sale / Touch Screen Kiosk Facility This feature allows POS / Kiosks to be integrated with the application so that the banks customers can access their accounts and conduct transactions. Mobile / SMS Banking and Alerts This 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 Management This 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 Payment Allows users to pay for a variety of utilities and services.

Business Benefits
The 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 futureready co-operative bank.. Flexibility Flexibility 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. Integration SuVikas 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. Value The 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 Environment Your choice of database/application serverhardware and operating system software.

Freedom of Choice

Deployment Options
Deploy as an in-house solution or as an outsourced service.

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

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

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India, Asia-Pacific, Middle East

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