Newsletter

InSight
VSoft’s Newsletter  November
2013


Chairman’s Message.

Over the last 17 years of its existence, VSoft has grown from a small group of individuals to a large global team.  The journey has not been easy.  Looking back, what makes me the proudest is our resilience in the face of some of the biggest challenges. We have worked together to crack the toughest software bugs in the shortest period. Some of our most irate customers have turned around to become our staunchest supporters. All along, teamwork has been the source of motivational energy for the team and its members. As the quote goes, “The strength of the team is each individual member…the strength of each member is the team.” I am confident than ever that VSoft will continue to work together as a team to meet the expectations of those who have made us what we are – you, our customers.

VSoft to Introduce Mandate Enabled ACH Payment System.

VSoft’s new product, Centrum Mandate Enabled ACH Payments System, is a comprehensive bank-side system, which will allow banks to participate in NPCI’s newly launched National Automated Clearing House (NACH) System, includes a powerful ACH Transaction Module and an advanced Image-enabled Mandate Management System in addition to archival and research capabilities for both images and transactions.  Some of the other value added services that the system would provide are; a corporate interface by which corporate customers of banks get access and analytics information, a bill pay interface to process variable payments, and an automated alerts/feedback system for consumers.  VSoft has demonstrated the system to NPCI officials and received encouraging feedback on the vision of the product.  With NPCI’s National Automated Clearing House (NACH), banks across the country will soon be able to process bulk and repetitive electronic payments for their retail and corporate consumers.  Today, only banks in the 90 Electronic Clearing Service (ECS) centres are able to participate in this electronic payments service.   

New CTS Service for Bulk Batch Processing.

VSoft’s new Bulk Batch Processing will allow its CTS customers to process bulk cheques presented by their corporate customers in a faster manner than normal cheques.  VSoft’s team achieved this primarily by introducing a new Sort Pattern. Bulk cheques will be scanned separately using the new sort pattern to create Bulk Batches.  Changes in processing workflow have also been implemented to speed up processing for bulk cheques. With the new service, banks can provide faster cheque clearing service to their corporate customers.  

VSoft’s CBS Live in 14 Apex Branches of OSCB

Our SuVikas Core Banking Solution has gone live in 14 Apex Branches of Odisha State Cooperative Bank (OSCB). The implementation and development teams worked round the clock and were able to overcome challenges in data migration and verification to ensure go-live deadlines. All the core modules are now running live and all the 14 Apex Branches have completed one half-year-end process and one month-end process successfully. Starting next month, VSoft’s team will start work on converting 17 DCCB’s of OSCB.

Five banks/sites went live with CTS 

The following banks/sites have gone live with CTS.

  • Bharat Co-operative Bank went live in the Mangalore Centre.  

  • Varracha Co-operative Bank went live in the Surat Centre.   

  • Sarawat Co-operative Bank went live in the Mangalore Centre.

  • Kalupur Commercial Co-operative Bank went live in the Mumbai Centre.

  • NKGSB Co-operative Bank went live in Hubli & Belgum Centres.

In This Issue

Chairman’s Message.

VSoft to Introduce Mandate Enabled ACH Payment System.

New CTS Service for Bulk Batch Processing.

VSoft to Introduce Mandate Enabled ACH Payment System.

VSoft’s CBS Live in 14 Apex Branches of OSCB

Five banks/sites went live with CTS 

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Madhapur, Hyderabad,
India

Ph:
+91-40-44775777, FAX:
+9-40-44775888,
www.vsoft.co.in

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