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Payment and Settlement Services

 
 

The financial crisis in the international scenario has revealed the importance for Indian banking industry to adapt interbank payment done real time and on gross basis. In India, Payment Systems like RTGS (Real time Gross Settlement System), NDS (Negotiated Dealing System) & NEFT (Nationalized Electronic Fund Transfer), etc. encourages better and efficient fund management by banks. Faster and secured fund transfer would be possible in an electronic mode, mitigating the settlement and systemic risks in the payment system. RBI has also advised all the participating members to upgrade their RTGS/NDS system at the earliest to reduce credit risk, increase transparency of payments and enable better liquidity management.

However the current infrastructure on which the RTGS, IDRBT & CCIL applications have been running have become old and obsolete. RBI has recommended all the banks to upgrade their current infrastructure.

The Challenges that Banking & Financial Services face, in terms of implementing / upgrading Payment & Settlement Systems for smoother banking transactions include:

Support from Principal Vendors
Security concerns
Performance issues of the applications
System Integration with core banking application (Straight through Processing)
High total Cost of Ownership
Strict adherence to Regulatory compliance
Skilled resources needed to execute day to day tasks & resolve the problems faced
Mission Critical Applications
High Availability of the Infrastructure and the Applications
Integration with different payment & Settlement System Applications (Enterprise Application Integration)
Interacting with the Regulatory Bodies (RBI, IDRBT & CCIL)
Capacity Planning

 
 Streamline payments across the operational environment

Omnitech has been consistently building expertise in managing and maintaining payment and settlement systems of the banks. Keeping in mind the significance of payment and settlement system in day to day banking and financial transactional activities, we have thoughtfully designed an end-to-end, one stop solution window for organizations. Right from the initial stage of planning to implementation and providing key inputs and feedbacks as and when required, we support clients.

Through our robust services, we give banking customers a single point of contact for addressing any administrative challenges faced in the day to day running of payment settlement systems. Utilizing our vast experience in designing and implementing the RTGS/NDS setups, we have proactively helped our customers do the right sizing of their infrastructure and thus protecting their investment in the long run. We also help you to avoid the hassles of time-consuming multi-vendor co-ordination and offers to be a single point of contact for solving all queries related to payment Settlement Systems.

 
 Why choose Omnitech Payment Settlement Systems implementation
Integrated Payment & Settlement System Help Desk
Strategic Consulting on NDS & RTGS implementation
Proven track record with more than 20 +(NDS / RTGS) solutions offered
Pioneers to introduce the full-fledged DR site in Indian markets
Alliance with all major principals like IBM, HP, Oracle and Microsoft etc.
End to End Solution on RTGS / NDS (Hardware/Software/Services)
Comprehensive and cost effective services
Faster implementation without any business interruptions
Efficient reporting and review mechanism
Periodic audits for continual improvements through innovative PDCA methodology
Unique Delivery Models suiting customer requirements and RBI standards
Customized Service Level Agreements
ISO 27001 security standards and follows the ITIL framework
Round the clock support across 365 days with committed SLA’s
Banking Domain Expertise
 
 
 
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