• Streamline Payments Processing & Improve Operational Efficiency

    NACH – Mandate Management System (MMS)

Overview - FincraftTM NACH Mandate Management System (MMS)

The National Automated Clearing House (NACH) mandate was released by the National Payments Corporation of India (NPCI). NPCI implemented a web-based solution to enable direct debit and direct credit transactions across businesses and consumers while eluding the high priced credit card payment networks and processing fee of paper based checks.

NACH, helps in direct saving of transaction fees ensuing profits for the stakeholders involved. It is mainly used for making high volume, low value debit/credit transactions that are recurring in nature. It supports two types of transactions one is Direct Credit and other is Direct Debit.

With FinCraftTM Mandate Management System banks can now streamline payments processing and improve operational efficiency.

Mandate management is a solution designed according to the guidelines of NPCI that helps in creation, amendment and cancellation of mandates for NACH debit and credit transactions. It is an online system to handle incoming data from destination after being processed and validated as per NPCI.

Nelito has developed an online application that acts as a bridge between the bank and NPCI so that end-to-end operations for NACH mandates are met. The system has been designed according to the guidelines and standards of NPCI. The solution helps in reconciliation of mandates. The security and other standards are also maintained as per NPCI. Member banks can build their own solutions to address specific corporate and user needs for mandate management, thus ensuring better efficiency in customer service through a predominant mandate management system.

Key Features

  • Scan/Generate and Verify Mandates
  • Intelligent automation to reduce processing time
  • Seamless integration to the bank's core banking system
  • Centralized mandate repository
  • Compliance with international standards
  • Interactive voice response for call management
  • Preparation of mass mailers
  • MIS reporting

Benefits

  • Better tracking of mandates
  • High level automation
  • Reduction in turnaround time
  • Avoid the high interchange fees of the credit card companies
  • Significant cost savings
  • NACH aids financial inclusion
  • Efficient customer complaint management system

Testimonials

  • 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.

    K.T. Wadia (CEO)The Sutex Co-op Bank Ltd

  • 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.

    ChairmanThe Nainital Bank Ltd.

  • Support is very good. Resolution of queries done promptly.

    KPrafula Ranjan (CEO)Jharkhand State Coop Bank

  • We appreciate for support from Delivery/Support team for any issue/query, we are very much satisfied with the services given by Nelito Team.

    Sanjay Kumar Singh (Head Technology)Jharkhand State Co-Op Bank Ltd.

  • We've been working with Nelito Systems Ltd since 2009. Working with Nelito Systems Ltd is truly the great experience. They offered fresh ideas & thoughts about CBS and worked non-stop to accommodate our needs & desires. They are truly and elite company with caring & compassionate employees who are willing to help their clients achieve a quality end product.

    Sudeep Desai / Chirag Patel (I.T. Officer)The Baroda City Co-Op Bank Ltd.

Happy Clients

  • Citizencredit co-op Bank Ltd
  • Jharkhand overseas Bank logo
  • the sutex co-op bank ltd
  • Nainital bank
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