In last decade, Banks have observed transformation of banking experience end customers led by Information Technology (IT) enabled solution and services such as Core Banking, Internet Banking, Mobile Banking, Wallet, Cards and Kiosk Banking. Both banks and their customers are benefitted by the evolution of IT in Banking sector. The business models of Banks are now oriented around achieving customer delight through IT enabled solutions and services.
A big slice of Banks' annual budget is now being allocated to their IT department. To meet the demand of regulatory and customer satisfaction banks need to spend more on procuring and maintaining IT Solutions, IT hardware, system software and Networking. Banks with lesser financial background find difficulties to meet the desire level of IT Implementation due to higher capital expenditures.
Cloud computing can help banks to lower the capital investment in IT infrastructure. Cloud computing converts big capital expense into smaller operational expenses. Worldwide not only smaller banks but larger banks too are now perceiving vision to adopt cloud based IT solutions to control the expenses on IT infrastructure.
Cloud technology enables banks to adopt a new model at lower cost for delivering innovative channels, reduced TAT to market new offering, meeting customer expectation and comply regulatory guidelines. Cloud based solutions deliver a higher value proposition of IT solutions and services in rapidly changing technical paradigms.
In cloud computing, system admin can remotely assemble, install, configure and deploy virtual resources to run the business solution. Moreover, cloud IT infrastructure can be expanded or reduced at any time based on the expected utilization and requirement without any astonishing financial burden.
Cloud computing will help Banks to meet the following business challenges:
Cost of Regulatory Compliance
Bank can afford the required solutions at lower cost in "Software as a Service" model to comply the regulatory requirements
Cutting down capital investment on IT infrastructure will reduce the capital inadequacy of the Bank
Market Competition / Business Growth
Bank can save 3Ms (Man, Minutes and Money) by implementing cloud computing and utilize these in new business opportunities
Banks on cloud computing are better prepared to economic uncertainties, environmental changes and shift of customer expectations
In India, the newly licenses Small Finance Banks and Payment Banks are proactively embracing cloud computing for their core and surround banking solutions. It is not only helping them to reduce the capital expenses to start the business but also aiding flexibility to scale the infrastructure in future based on the growth of the business.
Nelito is offering its core banking, financial inclusion, KYC and other surround solution on cloud. Cooperative Banks, UCBs, PACS, Credit Societies and NBFC can use these cloud based solution and reap the benefit of cloud computing.
Nelito provides the complete spectrum of services with regards to cloud, our services comprise of consulting, architecture setup, designing, implementation, and monitoring.
We empower businesses by accelerating innovation, and providing business agility while optimizing costs. Comprehending the constant need to experiment and innovate.
We offer development across Software-as- a-Service (SaaS) for enabling customer to leverage the benefits of Cloud.
"Nelito has Good knowledge of industry. Good customer orientation. They were Flexible and Open to new ideas and suggestions."
"For a Bank of our size, this system suffices and is very cost effective. Almost all of the bank’s activities run on the one system. Nelito constitutes a partner more than a supplier and the relationship includes provision of the bank’s underlying technology as well as its Fincraft range of applications."
"The best mix of functionality and technological support and our vision of “Cash Less and Paper Less” work environment for Sonata has come true with our technological partner Nelito. I highly recommend FinCraft Core Microfinance platform and especially integrations with a number of third party services."
"Nelito has successfully deployed the Online Reporting and Management Information System (ORMIS), which has streamlined the reporting process and their analysis. Its team is responsive, provided satisfactory support and has sound expertise to deliver time sensitive & critical projects. Exemplary team work."
"We are happy to use FinCraft Data Archival & Retrieval solution from Nelito Systems; it has given huge ROI in terms of saving revenue by retiring legacy applications. We get all desired reports in a timely manner from the solution."
"Nelito is known for its exemplary services to the users at all times. Your team provides excellent service and they are pro-active in providing solutions."
"On the whole a professional and capable and competent team. Providing solutions adapted to clientele updated on technology front."
"Proactive & professionally supportive, technically skilled team."
"Fincraft CBS software & Doorstep Banking Solution helps our society’s functionality towards digitalization & paperless working. It reduces our manpower requirement and workload, also gives us fast reporting for our institution as and when required."
Exemplary relationship set by Nelito’s PCS team which helps project to grow vertically. We have always been very impressed with the quality of service we have received from Nelito. They are reliable efficient professional and above all truthful. This alone sets them out from much of their competition.
"E-district Manipur project was undertaken and successfully implemented by Nelito in a record time. The online services offered under this project has made a marked difference in the quality of life of the citizens and is taking the state towards a digital Manipur."
"On 20th of November 2016 our bank data was migrated to FinCraft and we have completed one year successfully in FinCraft. So we thank all the team members of both IFTAS and Nelito for your great co-operation in this success. We expect more & more co-operation in implementing new technologies in banking sector from your side in future."
"My bank is working with Nelito from the last about 9 Years and the services provided by the company may prolong our association."
"The Bank is associated with M/S Nelito since 2002. M/S Nelito Systems Ltd has been our CBS vendor since 2009. The Products, quality of service offered by them are excellent. They have a very good support team and are trained enough for handling any type of situation."
"We appreciate your local team who continuously supported & assisted our team to meet the goal."
"Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others."
"As Vendor strict adherence to process & procedures. Risk Mitigates in Place. Flexible to customer requirements."
"Bank has implemented CBS of Nelito Ltd in the year 2008-09 in phase manner. Also integrated RTGS/NEFT, CTS, MMS etc. which help us in smooth automation of banking operation."
"Experience during development of Rating Engine Module has been good in the context of commitment to meet timelines & lot of hard work has been put by Nelito's team."
"Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth."
"Nelito and its team has always been supportive and efficient in achieving the tasks set up by the Dept. Apps developed by the software engineers for the Public Health Dept. have proved to be excellent among the top competitors and have been acclaimed for its effective service delivery to the end user at the grass root level which is the foremost object of any Govt. organization. Many thanks for the sincere efforts."
"We appreciate Nelito team who were always on time and responsive to our needs and changing ideas. They worked efficiently from the project inception to its completion in a timely and professional manner. Their understanding of this space has been invaluable to the success and launch of 'PMAY CLSS' app."