"Security" is one term everybody realizes the importance of most, when it is breached. With more and more security breaches being reported in the financial markets' space, it appears that the awareness towards tighter security has become more pertinent and prominent than ever before. Well, this statement is likely to be true even in future. As the technology is improving convenience, speed and functionalities, equally and parallely new ways of breaching the security are evolving. Isn't it the fight for the one-upmanship between benign & malign elements, always on?
With the world swinging towards faster payments, it has also increased the risk of parting with the money with wrong hands, even faster. The problem assumes more serious note with huge investments seem flowing from institutions and allegedly by some state sponsors too. The conspiracy acts are of truly international in their spread – creation of fictitious accounts for nefarious credits, sustained network intrusions and eaves- dropping of the identified institutions, understanding the internal processes (possibly by way of insider or disgruntled ex-employee involvement), conversion of the booty into crypto currencies or through unorganized / unregulated markets and last but not least attempts to erase the evidences!
While security breaches are not new to the financial world, with the electronic settlements of funds becoming more so efficient, even the trusted names in that space like SWIFT had to shout their perspective of the problem and the steps that are being embarked upon to bring back the point that "S" (as in SWIFT) stands for Safety & Security. With the responsibility of securely transmitting huge treasury and other payment messages (besides other business messages) on SWIFT (Society for Worldwide Interbank Financial Telecommunications), it is imperative that SWIFT continues to carry the image that it had stood for over the years. While SWIFT has categorically issued statements that its network and Core messaging services have not been compromised, it goes without saying that security can never be seen in isolation. As announced in this year's Sibos event at Geneva, SWIFT is coming out with a 'Customer Security Program' to extend the security and compliance requirements & control points more into the customer environments. Subject to SWIFT board's approval this program is expected to be operative shortly (watch for this space for more information in the coming months).
In order to ensure that the financial ecosystem is safe, it is not sufficient to secure the respective environments but it is equally important to have reasonable security hygiene ensured at the counterparts too. It may be quite common to shoot and thwart a missile in the air but it is very difficult to stop a fully validated real-time customer payment message, once released from the sender. In the recent events where the local systems have been breached, because of the better controls and checks at the Nostro providers' end, deeper damage could be averted and in some cases even completely foiled. These kinds of filters may become as USPs and prove competitive advantages towards deciding correspondent banking relationships.
The Meticulousness of efforts to ensure customer delight by each of the team member during the course of the project is appreciable. - Data Archival Project
Overall we are happy with the services provided by Nelito. The implementation team is sensitive to our support requirements and does a good job.
We are extremely thankful to the whole team who have devotedly committed and created this excellent database. Much of our time was wasted in data retrieval from i link where we were facing lots of issues.
You have given us an awesome product which is superior to our Finacle itself in its display capabilities. The great idea of taking pdf/word/excel option is simply superb. Merging the party code and Finacle CIF and account numbers are another feather in the cap.
We have successfully made Nelito's Fincraft Software for NBFC live in early March for LOS,LMS and Sanjiv Khalkho, Arijit Chakraborty with his team have been very instrumental in making this software live . I would like to appreciate on the turnaround time during the go live phase of the team in getting some of our key requirements done and helping our users to use the software for recording and disbursing all the sales from the software.
In technology side I would like to praise Pramod Navale and Ganesh Khetmalis for in depth knowledge of the product and their technical skills is outstanding. Looking forward for the continued relationship for our next release and whole of 2018.
"We are extremely pleased with the kind of support extended by you and your team for our year end work. Although whole bunch of people worked for making the support seamless from your end, my special thanks to following resources. Anurag, Arpit, Arvind, Pranit, Suraj, Udgran, Nilesh, Leena and Udgrand. Also, thanks to all others who have supported us directly or indirectly at your end."
"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."