national automated clearing house (nach) an overview by vsoft
DESCRIPTION
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.TRANSCRIPT
NACH Mandate Management An Overview
VSoft Technologies Pvt. Ltd.
2
NPCI – NACH Objectives
A Centralized Platform across the country
Harmonizes Standard & Practices in ACH Payments
Consolidates multiple ECS Systems across the country
Provide 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
NACH Process Flows
5
Mandate Initiation: Sponsor Bank
Corporate
Sponsor
Bank
NPCI NACH Network
4
5
6
7
9
10
11
1
Customer Initiates Mandate
through Corporate
Destination
Bank
2
Back-end
Digitization of
physical
mandates
Files Sent to
Destination
Bank
UMRN
generated by
NACH System
Data & Image files
sent to NACH
Verification &
approval of
mandates
Updates corporate
with detailsCorp. sends
mandate to
Sponsor
Bank
Returns file sent
to Sponsor Bank
Returns Files
Send to NACH
3
Mandate status updated
in NACH
Sponsor Bank Initiated Mandate Flow
812
Mandate Status
Updated
6
Mandate Initiation: Destination Bank
Corporate
Sponsor
Bank
NPCI NACH Network
4
5
6
7
8
9
10
11
1Customer Initiates Mandate
through Destination Bank
Destination
Bank
2Back-end
Digitization of
physical
mandates
Verified
image/data
sent to NACH
UMRN
generated by
NACH System
Verified files sent to
Sponsor Bank
Verification
& approval
of mandates
Updates
corporate
with
details
Corp. updates
database &
sends
confirmation
response to
sponsor bank.
Sponsor Bank updates
database & sends
confirmation
Confirmation of
mandate status
sent to Destination
Bank
3Mandate status
updated in NACH
Destination Bank Initiated Mandate Flow
Centrum Mandate Enabled ACH Payments System
8
Product Vision
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
Value Added Services
• Corporate Interface for Direct Mandate Upload• Net position monitoring facility for Corporates• Automated alerts and feedback for Corporate users
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
10
Product RoadmapP
roduct F
eatu
re E
volu
tion
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
Version 2.0: • Charges Module – Itemized reports– Charges logic – Invoicing
• End user alerts – sms alerts – email alerts
• Customized Process Flows