FinOzone

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A hard to find flexible back office MIS consolidation tool

Traditionally automation in banking sector has been focused on the computerization of the front office operations. Undoubtedly this has brought in significant gains in branch productivity and superior service level to the end customer.

However, collection and consolidation information from front end transaction systems to meet various business needs like statutory reporting, internal control, business planning etc continue to be labour intensive, time consuming and lacks timeliness. The situation is further complicated by the multiple front-end systems of different vendors being used by the bank.

FinOzone, Nelito’s MIS consolidation of Core Banking Solution, offers a cost effective feature rich system that offers opportunity to streamline the data collection, analysis and delivery and its effective business usage by: -

•	Consolidating data from the front end transaction system
•	Reducing the cycle time to produce statutory financial statements
•	Providing visibility to the various operational information
•	Reducing the operational risks by providing relevant business critical information in timely fashion
•	Supporting hierarchical operational structure

Key Features:

• .	Allows bank's control and reporting hierarchies to be defined for information exchange. Up to seven levels of hierarchies can be defined. A typical four level hierarchy is branch, region, zone, and HO.
•	Allows use of diverse data transporting strategy. Supports use of leased line; Dial up line, (FTP) or internet (email), removable storage media etc.
•	Uses latest technology components to encrypt and compress data transmission.
• .	Supports multilevel workflow. Branch can first generate and verify reports. On verification, next level can consolidate and verify to propagate the information to next level in hierchy.
•	Allows consolidation of reports that can be generated from front-end transaction system. Even for those reports for which information is not available from the base transaction system, manual entry of data and further consolidation is supported.
•	Allows definition of different users and their rights to access reports.
•	Provides check at each level of consolidation whether all branches under that level have sent files. Allows repetition of the old period data to deal with contingency situations when the branch is not able to send the report in time.
•	Allows generation of all kinds of reporting information at the central location itself. Moving of the data can also be made automatic so as to eliminate the back office work at branch level.
• .	Can publish generated reports using Microsoft's "Sharepoint" web portal. As and when consolidated report is verified at HO, the PDF file of this report can be published in the web portal under the appropriate heading.