Our Core Banking Solution thus addresses very unique requirements such as members owned entity & management, small & micro businesses focussing on regional competencies, large customer base engaged agriculture & related activities, remote location with no or unstable connectivity. Given our presence in similar rural and micro banking focussed regions, our solution is capable of providing a modern, scalable technology platform with comprehensive features out-of-the-box.
Our Core Banking framework developed for this class of banks easily integrates unique requirements such as shared ownership, interest subvention, micro-savings products, and finance products that suite agricultural, farming, small-scale, handicraft & artisan businesses.
Core Banking Solution for State Co-operative banks, District Central Co-operative Banks and Primary Agricultural Credit Societies
In the co-operative banking hierarchy in India, the finance flows from a State Co-operative to District Central Co-operatives (DCCB), which form the prime credit facilitator at a district level and Primary Agricultural Credit Societies (PACS) form the end-point to which credit needs to be delivered.
OMNIEnterpriseTM Core Banking Solution for this segment carries some unique features to enable the banks to provide differentiated finance tools to support the agricultural economy, track the credit flow and measure & report outcomes.
OMNIEnterpriseTM Core Banking Solution for State Co-operative Banks and District Co-operative Banks
It is a proven solution with successful implementations pan-India. The solution allows the banks to offer retail as well as business oriented products & services and more importantly, provide a backbone for the financial inclusion objectives. It is developed on modern technologies and architecture that is suitable for this segment that operates largely in remote, rural areas.
The solution addresses the pain points of this segment by removing customer duplication, providing customer insights, maintaining data integrity, processing real-time updates and providing comprehensive compliance reporting.
Having implemented robust & scalable core banking, our client banks have been able to easily step onto digital revolution path. They have implemented diverse solutions that add a lot of value through enhanced customer reach and access to banking products & services 24 x 7. Some of the solutions that offer high level of traction are:
Some of the unique functionality offered to State Co-operative Banks and District Co-operative Banks:
Share Capital Management and Members Management
Loans classification as per NABARD guidelines
Kisan Credit Card Management
Reconciliation of DCCB and PACS accounts
Managing AIMAS transactions
Managing investments in G-SEC and Bonds
Over 150 pre-packaged reports that cover MIS reports, Regulatory Reports and Statistical Returns for NABARD and NAFSCOB
OMNIEnterpriseTM PACS Solution
Primary Agriculture Co-operative Societies (PACS) play important role in the economic betterment of farmers in India.
In the three tiered structure of the co-operative credit societies in India, PACS form a critical link at the base level, practically acting as the face of co-operative initiatives to the farmers. As of 2013, there are more than 90,000 PACS serving credit needs of 3 crore farmers.
InfrasoftTech having worked for close to two decades in the co-operative sector in India, has designed & developed software solutions addressing unique needs of PACS such as Member Management, Crop Loans & Crop Insurance, Kisan Credit Card, Stock management, etc.
The PACS application developed by InfrasoftTech offer the following differentiators that beings immediate benefits for the societies:
The key features and functionality of the PACS application are:
We at CAL Bank has been using InfrasoftTech’s Anti Money Laundering Solution. We as a business come under the category of essential services, and as our technology partner, InfrasoftTech continue to play a big role in helping CAL Bank Compliance function in ensuring continuous compliance check on our customers. We have been able to maintain business continuity despite all the challenges due to the Covid-19 Pandemic. Thank you for being available and supporting us throughout.
We are part of the essential financial services category in Qatar, and as our technology partner, InfrasoftTech is playing a vital role in supporting our Anti Money Laundering (AML) & CFT monitoring role. We highly appreciate InfrasoftTech team for their continuous support. We humbly thank them for being available and supporting us throughout all these testing times.
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