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Nucleus had collaborated significantly with a leading business service consumer & wholesale Bank in the Business Area of Cash Management.
The bank offers various collection services, namely, National Clearing and Collection Services (NCCS), Wholesale Lock-box Services (WLBS), International Collection Services (ICS), Electronic Collection Services (ECS) and Retail Lock-box Services (RLBS), via different in-house and third party systems. These systems were not integrated to support the increasing demands from customers in terms of consistent delivery channels as well as towards a more comprehensive and consolidated reporting on the services acquired by the corporate and institutional customers.
In view of this situation, a new application solution was required by the bank to provide integrated collections reporting, integration with additional delivery channels and more value added services to address the business needs of their customers. This system was a part of an overall solution within the bank. Some of the other systems had to do further processing of data captured by this system.
The Nucleus Solution provided consistent reporting interfacing via multiple delivery channel options for all countries in the region.
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> Value-added services Regional Integrated Collections Solution
> Additional channels and methods in all locations of the bank
> Integrated collection reporting across all countries
> Financing and Working Capital Management
> Suite of receivables financing product |
Using this solution, the bank was able to process customer account receivable files, generate bill and present it to the customers' counterparts, collect payment via various delivery channels and perform invoice matching against receivables etc.
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