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Kotak Mahindra Bank goes Live with VSoft’s Centrum NACH

Hyderabad, 06 August, 2014: VSoft Technologies, a global provider of next-generation banking business services, is pleased to announce that Kotak Mahindra Bank is now live on the Centrum NACH platform. Kotak Mahindra Bank, a leading private bank in India, chose VSoft’s platform-BPO services for processing mandates and electronic transactions through the NPCI-NACH network.

Centrum NACH is delivered as a complete platform-based business process outsourcing service where people, process and technology work in unison to drive, support and accelerate NACH transaction processing. The Centrum NACH system consists of a robust image-based Mandate Management System and an end-to-end Payments Processing System coupled with strong information-exchange and customized MIS capabilities.

Mandates from partner banks are collected, scanned and digitized at VSoft’s Image Service Bureaus and transferred to VSoft’s central processing unit for further processing. The Centrum NACH System processes the digitized mandates and presents electronic mandate files to the NACH platform in the prescribed format. The Payments Processing module allows presentment and clearing of electronic transactions after due verification against respective mandates. The straight-through processing capabilities of the system coupled with the option to outsource maintenance and operations makes Centrum NACH an attractive proposition for financial institutions of all sizes.
Fore more information on Centrum NACH, please click here

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