Home > Industry Solutions > Banking & Finance > PSS > NGRTGS - PRISM
 

New Generation Real Time Gross Settlement - Prism

 

Now offering 1st in India, a unique Payment Hub Management Service designed to ease the complex management of your Payment systems.

 Introduction

logoThe new Real Time Gross Settlement (RTGS) system was launched by Governor of Reserve Bank of India on Oct-2013.  With its advanced liquidity and queue management features, the new RTGS system is expected to significantly improve the efficiency of financial markets.


Reportedly the first in the world to be built on ISO 20022 messaging standards, the new RTGS system is highly scalable and will have several new functionalities. These include advance liquidity features, including gridlock resolution mechanism and hybrid settlement facility, facility to accept future value dated transactions, options to process multi-currency transactions, etc.


The new ISO 20022 compliant RTGS system provides three access options to participants – thick-client, Web-API (through INFINET or any other approved network) and Payment Originator module.


In early years of RTGS implementation, many large and mid-size Banks have invested into sizable money in building RTGS infrastructure using Payment Originator Module. Since, technology was it’s nascent stage, implementation and operations had it’s own challenges.
With advent of New RTGS regulation 2013, Web-API based systems have changed the way RTGS system is deployed. Legacy RTGS system carried database in the local servers which not only to be managed but required very sophisticated Disaster Recovery Management mechanism. All this used to put lot of pressure on investment, keeping small banks away from owning their RTGS system


New RTGS system with Web-API system offers resource light system which can is independent of local database hence implementation is extremely fast with zero management efforts at affordable cost.

Omnitech has built such robust Web- API based new RTGS- Prism system which has all those features that are applicable to NGRTGS system suggested by Regulation 2013 ( URL Link ).

NGRTGS-Prism payment hub solution , shall enable aspiring Cooperative Banks to own RTGS infrastructure at affordable cost. Our new Solution shall offer not only efficient interface to connect Core Banking System of Banks to RTGS system of RBI seamlessly but also facilitate requirements like notification, liquidity and reconciliation of RTGS transactions.

 

Our solution has removed technical complications of managing local databases and requirement for it’s Disaster Recovery. Due to simplicity of architecture and agile technology, solution is highly scalable and resource light. So much so that it can be deployed onto the redundant hardware available with Banks. The deployment is extremely simplified and time saving offering cost benefit of around 30% compare to it’s legacy RTGS solution.

The product is under beta testing and Commercial launch of the product is slated to be by December 2014


The features v/s Benefitsof the RTGS-Prism system are as follows

Salient Features
Customer Benefits
1.
Scalable
Saving incremental cost in Hardware upgradation
2.
Resource Light
Cost effective in infrastructure investment
3.
No local database
No investment in databases
4.
Simple Disaster Recovery Management
Lower IT Management complications
5.
Simple Implementation
Less time to implement
Partner Us
 
 
Brochure Download
Corporate Brochure
 
Related Links
 
 
 
 
 
 
 

About-Omnitech Industry Solutions Services Investors Careers Contact With Us
Profile Banking and Finance Managed Services Investors Home Careers Global Presence
Our People Manufacturing Application Services Reports & Filings Opportunities Enquiry
Our Partners Retail Delivery Models Corporate Governance Investing in employees Privacy policy
Advantage Omnitech It/Ites Business Continuity Services Faqs Why work at omnitech Disclaimer
Copyright © 2012 Omnitech InfoSolutions Ltd. All Rights Reserved.
Best viewed in IE 7 and above.