Global Receivables

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Installations across 22+ countries

FinnAxia Global Receivables

Product Module Overview

FinnAxia Global Receivables Management provides a comprehensive set of features geared to manage bank’s corporate customers’ receivables needs. Global Receivables solution facilitates banks in defining flexible collection products based on corporate banking operating model, thereby, ensuring optimum fund consolidation viz; Cheques, Cash, I-ARMS, Invoices Matching, E-Receipts, Virtual Accounts and Direct Debits (Physical & Electronic). The solution is based on Java J2EE with web services to connect to multiple host systems for a seamless and integrated view.

We design, develop and configure computer hardware and software for banks and other organizations in the financial services industry.

Business Benefits

Reduced operating costs and enhanced operational efficiency.
360 degree account position view; balance consolidation.
Flexible product definition; segmented products
Reduced business risk by working capital optimization
Seamless integration with downstream systems
High business opportunity; multiple channel support

Features

Flexible and parameterized banking solutions facilitating tailor-made offerings
User driven business rule definition using Product Derivation Rules
Multi-country, currency, lingual, legal vehicle, channel, time-zone, browser
Direct Debits collections support via physical mandate and electronic mandates
Cash Collections with denominations
Collection and reconciliation with virtual accounts
Cheque Collections - With CDC-PDC management and Arrangement based credit for customer
I-ARMS - With full and partial reconciliation facilities
Wholesale Lockbox
Payout Customer and Coordinator facilities
E-Receipts & Virtual Accounts
Credit Line Monitoring through Risk Manager
Dynamic billing (GST enabled)
Dynamic Accounting (Centralised & Branch Level)
File Format manager - With various Uploads and Downloads options
Alerts for various business partners – Banks , customers and Payers
Report scheduling (Incremental and consolidated) with password configuration options
Rich MIS for various business groups like profitability, volume, pricing, collection reports
NPCI compliant Direct Debit Mandate capabilities via both physical and electronic forms
NACH Debits
Configurable Accounting and posting facilities with advance Consolidation and Narration options
Support of inward NEFT, RTGS and IMPS transactions along with virtual accounts
Configurable Transaction download – can be used as clearing download, feed to ERP etc.
Centralized accounting for Parent – subsidiary relationships
1. Inward TT (FCY Transactions)
Bill amount segregation to multiple accounts (Customer or Virtual account or GLs)
Payout functionality enabled for all transaction types, Cash, Paper and Electronic
Payout generation from customer's account or bank GL account
System Bank Mandates Processing via NPCI
Sudden Holiday handling, credit postponed to next business date
- Bill Collection - Integration with customer ERP and manual entry of bills by bank user for non ERP customers
- - Fund segregation with bill collection which enables credit to multiple accounts (real or virtual) with segregated amount

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Nucleus Software has been our technology partner since a long time and we have been using their flagship product ever since. FinnOne™ has helped the Bank over deliver its promises and thus ensure customer delight. We are proud of our association with Nucleus Software and look forward to a further strengthened future.

- Munish Mittal, EVP & Head – Technology Solutions Group, HDFC Bank
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