Retail/Private Banking

The Internet allows financial firms of different sizes to enter markets and reach customers previously out of reach to them. It also provides substantial economies of scale and scope in data storage and data processing.

New sophisticated financial products mandate data quality & online account management. Today, banks do not see Internet Banking just as an additional delivery channel but as an effective strategy to cross-sell & provide value-added services to their clients. Internet banking has had significant effects on the structure and performance of the banking industry, in general.

Zensar has proven experience and rich expertise in developing & supporting feature-rich Internet banking solutions. This strength has helped us in maintaining long-standing client relationships.

Key functions & features of our Internet Banking Solution include:

• Demand & Term Deposits, Finance/Lending, Guarantees, Credit/Debit Cards, Treasury products
• Account maintenance, Account queries, Account Summary, Transactional History, Beneficiary maintenance
• Payments & Transfers, Rewards & redemptions, Statements, Salary Payroll, Third Party Client Administration
• Mobile banking, SMS/Fax/Email Notifications, Document retrieval (statement, tax certificates, etc ), Audit Log
• Profile/Role based menu & functionality access, Multi-user access
• Dual Authentication, Authorization (Maker-Checker), Web Security & Multi-browser compatibility
• Integration with various Product Houses & CRM application
• Web Security features for protection against HTML injection, SQL injection, Authentication, etc

To survive and win amidst today's market competition and regulatory scrutiny, retail financial service providers are focusing on their customers like never before. Customer intelligence has become the key to identifying, acquiring and retaining high-margin account holders.

CRM applications allow institutions to create more consistent, meaningful and profitable interactions with their customers across various channels including sales, partner channels, the Web, and call centers. CRM systems often tie into other core systems (that help to run the business) to realize its objective. CRM applications standardize, automate and share customer management activities to improve client interaction.

Zensar has engaged with various high-end financial institutions to develop and support be-spoke CRM applications. We have effectively addressed the key challenges of Reporting, Marketing, Sales and Support in our solution.

Our value proposition in the CRM space includes:

• Best in class customer servicing
• Customer Information maintenance - demographics, employment, financial, compliance & other related data
• Customer Associations, Product Information, Common business data maintenance
• Portfolio management, Cross-selling, Compliance checks - AML, KYC, BASEL II
• Tasking, Prospects management, Alerts & notifications, Audit log
• User Administration - profile & role based access
• Authentication, Web Security & Multi-browser compatibility
• Integration with various Product Houses & Internet Banking application
• Channel enablement - Internet banking, mobile banking, etc for customer

Foreign Exchange firms across the world agree that retail clients in the foreign exchange market are increasing at a rapid rate and will only continue to do so. Significant changes in customer lifestyles have resulted in heightened overseas travel for leisure, business or education. The thriving financial markets and de-regulation (read lesser regulations) has attracted customers to increasingly invest in overseas markets.

Foreign Exchange firms across the world agree that retail clients in the foreign exchange market are increasing at a rapid rate and will only continue to do so. Significant changes in customer lifestyles have resulted in heightened overseas travel for leisure, business or education. The thriving financial markets and de-regulation (read lesser regulations) has attracted customers to increasingly invest in overseas markets.

Banks see a huge opportunity in this area as these customers instinctively turn to their bankers for their foreign exchange needs. As customers are becoming more well-informed, banks face challenges in providing attractive exchange rates and service the request to the satisfaction of the customer. Technology has enabled them in quick client servicing, transaction matching, efficient accounting, regulatory compliances tracking & many more.

Zensar has been managing retail forex systems for major retail and private banks - involved in development & support & modernization of these applications.

Key functionalities that are supported by our solution:

• Buying & selling of FCY Cash, Travellers cheques, Demand Drafts & Telegraphic transfers (SWIFT)
• Deal types - Travel, Gifts, Investments, Family maintenance etc
• Facility extension to Groups & Corporate
• Allowance Limits, Deal types, Roles and access maintenance
• Order, Quote, Deal & Contra-deal capture, Matching process
• Compliance check (AML/KYC), Required documentation capture, Regulatory forms
• Exchange Control approval & transaction authorization
• Transaction funding, Exchange rate extractions from internal/external suppliers, straight through processing, allowance limit updation
• Diary/Calendar Maintenance for collection & delivery from/to customers
• Parameterized search functionality, Reconciliation, Balance of Payments position, historical data
• Fees, commission and VAT maintenance & calculations
• Invoice generation, Email notifications, Audit Log
• Integration with various Product Houses, CRM & Internet Banking application End-of-day settlements with Product houses & Accounting systems