Products & Services

Core Banking Solution

VSoft’s IRIS CBS (previously SuVikas) is a comprehensive core banking solution for co-operative banks built on advanced web technologies. Its platform-independent and open-system architecture enables smooth integration with existing and future systems of financial institutions.

CBS

The solution includes core banking modules like Agri Loans, Borrowings, Kisan Credit Card (KCC), AIMAS clearing, and COBMAS clearing and non-core modules like Loan Originating System, Fixed Asset Management, Payroll, Treasury, Anti Money Laundering (AML), Asset and Liability Management, Internet Banking, and Mobile Banking. IRIS currently supports daily operations of over 80+ co-operative banks in India.

Key Features

  • Complete front and back office solution
  • Easy for adapting to different Indian practices
  • Web-based technologyOpen Source Operating System and Database
  • Single view of all customer relationships
  • Adequately parameterized
  • Platform-independent, currently available for both
  • Windows and Linux platforms
  • Full suite of analysis and RBI reports
  • Interface for ATM, RTGS/NEFT, mobile, CTS, file based clearing, ECS, Internet banking, information kiosks etc.

 

Deposits

  • Fixed Deposits: Provision to compute interest. Open a series of deposits at a time for a given customer (parameterised)
  • 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 pre-defined limit

Loans

  • Group Loan Linked Savings Schemes: Provides access to need-based credit, sharing of income from lending among savers in the ratio of savings
  • Multiple Schemes: Allows definition of more than one product to suit different market segments. For example, different types of Savings Accounts with different facilities and charges can be introduced, say for women and senior citizens
  • 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 (Multiple PLR). Different interest rates can be applied to individual loan accounts, based on risk perception

Reports

  • Annual Information Reports, Cash Transaction Reports (CTR), MIS and other Reports: Reports for management, customers, regulators; Registers, Day Books, Notices, MIS reports, Statutory reports, Daily reports, Ledger reports, Financial reports, TDS reports, Service Tax reports, Branch-wise reports
  • RBI Reports: Loans, NPA, Fortnightly and Monthly returns (Forms I, IX), Priority Sector, Prudential Supervisory Reporting System (PSRS), Computation of Capital Adequacy, Quarterly RBI Returns, ALM

Reports

This feature allows users to perform transactions, payments etc. over the internet through the bank’s secure website. Customers can do their banking from the comfort of mouse – anytime, anywhere.

Internet Banking

This feature allows users to perform transactions, payments etc. over the internet through the bank’s secure website. Customers can do their banking from the comfort of mouse – anytime, anywhere.

Mobile / SMS Banking and Alerts

This feature provides user with the facility to avail information such as transaction message, balanced enquiry, 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.

 

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