BANKING SERVICES & SOLUTIONS
VSM’s Services in Banking are rendered with a focus on delivering value. In doing this, we leverage our substantial domain knowledge along with technology skills, to meet client needs.
FEATURES
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1. APPLICATION MANAGEMENT SERVICES
Banks use multiple solutions to manage their operations. Among all, Core Banking Solutions is their core activity.
We offer comprehensive Application Support Services to banks using Flexcube CBS. In these banks, we also support some surround solutions.
- L1, L1.5 and L2 support
- Coordination with OEM’s for L3 support
- Root cause analysis
- Testing of enhancements delivered
- Repository of commonly reported issues along with resolutions
- Training of resources on core banking solutions in retail and corporate modules like CASA, TD, GL, Loans & Advances and FCC.
- CBS version migrations support
We are currently supporting India’s third largest PSU bank, by partnering with a large SI.
We also offer Application Support Services for L1 and L2 in Mobile Banking payments like NEFT, RTGS, IMPS and UPI
BENEFITS
- We have good teams and can offer services without disruption
- Banks can focus on core areas that impact business
- With the use of knowledge repositories, training and root cause analysis, we can ensure that our teams function efficiently.
- TAT is considerable reduced as there is ready reference of repository of commonly reported issues.
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2. FATCA / CRS
VSM offers solutions and services in compliance to banks.
Currently, we offer these for FATCA (Foreign Tax Compliance Act) and CRS (Common Reporting Standard), which all banks have to comply with.
- We have a Software solution that handles FATCA and CRS
- This solution features
- Data extraction
- Data management
- Validations
- Classification of accounts and account holders as required under FATCA and CRS
- MIS reports
- Compliance reports
We are leaders in Software Based Services for FATCA and CRS.
Benefits that Banks get include:
- Software assisted data remediation services
- Error-free reporting
- Audit trail on data intervention
We have a client base of 12+ banks using our services and are leaders in this segment.
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3. RPA (ROBOTIC PROCESS AUTOMATION)
The process of automating business operations using “BOTS” to reduce human intervention is RPA. There is a growing demand for RPA in many industries, especially Banking. VSM is a partner with UiPath, which is one of the leaders in RPA platforms globally.
Domains covered:
Our focus in RPA is in : BFSI,and Healthcare
In any RPA implementation, process knowledge is as key as technical knowledge. In the BFSI domain, our senior ex-bankers will work with your team to study the process flows and even optimize the steps before implementing RPA.
As a partner with UiPath, we have implemented various processes in the following areas,
- Payment processes
- Reconciliations-for example, ATM
- Invoice processing
- Account opening processes and more
Benefits of working with VSM and UiPath:
- Optimal investments
- Help in choice of high ROI processes to automate
- Good domain knowledge
- Skilled RPA developers
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4. APPLICATION DEVELOPMENT
To get the most from all the OEM solutions that a bank would typically deploy, often, surround applications are needed to complement these and get most benefits. VSM can develop such applications and where necessary, integrate them with CBS and other solutions. With our domain expertise, and with a team of 100+ technical associates, analysts, ex-bankers, and testers, we can bring a lot of value to a bank.
- Domain knowledge
- Mobile applications development
- Areas such as Trade Finance, Bank operations, compliance and audit applications
- Cloud or on-premise deployment
Benefits
- Quick turn around
- Good knowledge of two most-used CBS solutions-Flexcube and Finacle
- Secure applications
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5. PROFESSIONAL SERVICES-ON DEMAND
Often, banks need on-demand help in completing software assignments that they may have taken up or for their System Integration partners.
VSM can provide such technical skills on demand in most of the commonly used skills-both generic skills sets like programming, and database, or package skills (Flexcube, Finacle, ALM and others)
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Clients
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Partnerships
