iBanking

  • iBanking - Retail Banking
  • Package Summary
  • Membership
  • Liability Scrutiny
  • Term Deposit
  • Notice Deposit
  • Recurring Deposit
  • Loan Emergency Loan
  • Loan Gold Loan
  • Loan Termed Loan
  • Loan - Loan on Deposit
  • Overdraft
  • Chitty / Group Deposit/ MBF
  • Locker
  • Verification - Passing Official
  • Verification - Passing Cashier
  • Analytics
  • Security

Retail Core Banking for Co-operative Banks and Credit Unions

iBanking is a banking software solution developed by iCrats which enables complete computerization of co-operative banks and credit unions operations. It was developed from ground up with close interaction with experts in banking domain and has took nearly 9000 man days for development. It not only benefits from the technical expertise of the company and banking domain expertise of the consultants but also from the problems faced by the consultants and end users during computerization of co-operative banks and credit unions. The system can grow with ever increasing demand of the user. The modular structure makes the future expansion easier.

We lead others follow in innovation in Co-operative banking sector, NBFCs and credit unions in South India – Kerala and Tamil Nadu.

  • Any Branch Banking since 2002
  • Core Banking Solutions since 2003
  • Disaster Recovery sites since 2004
  • SMS alerts and campaigning module since 2005
  • Employee Self Service, Payroll, Pigmy deposit collection machine integration and Intranet since 2006
  • ATM interfacing since 2007
  • Internet banking since 2009
  • NEFT /RTGS since 2010
  • Mobile banking since 2011
  • Biometric authentication and Human Capital Management since 2012
  • Online repayment since 2013
  • GST since 2017
  • Aadhaar Verification since 2018
  • Our systems are secured by multi level authentication/authorization and SSL systems. We do keep detailed audit trail for all the transactions.

Package Summary

  • User definable Share Class Type and its attributes.
  • Membership Application processing.
  • Automated Member Number generation.
  • All Member related transactions can be carried out from a single user interface (screen).
  • Official/ Residential / Mailing addresses of a member can be updated and the address history is maintained.
  • Superior Officer’s details as well as Asset details of a member can be maintained.
  • Member’s Photo and Signature can be stored within the database (system).
  • Membership status displayed as alerts.
  • Member transaction history shown in a tabular format with the last three transactions immediately visible.
  • Employee productivity improvement features in the transaction user interface (screen) like automatic Share Value calculation based on Face value when share numbers are entered or vice versa, Dividend Amount to be paid calculated by the system based on the To date given.
  • Membership search (with Bit search) for the given address criteria.
  • Member Registers (Admitted, Disqualified, Expired).
  • Member Liability statement as on a date.
  • Membership Annual Statement, Summarized or Detailed Membership As On statement.
  • Determination of Recommended Dividend percentage.
  • Dividend calculation based on dividend percentage declared.
  • Dividend Registers for a financial year, Paid during a period/date, Payable during a period/date.

Liability Scrutiny

  • Liability as on a date for specified member number.
  • Provision to choose between Direct and Indirect Liability or both can be calculated simultaneously.
  • Flexibility in modules to be considered for liability calculation.
  • Provision for taking printouts of member liability.
  • Available from all ledger screens.

Ordinary Deposit

  • User definable deposit types and its attributes.
  • For a given deposit type, different interest rates can be set for different customer types for a period.
  • Provision to capture rates for Loan on deposit.
  • Automated account number generation.
  • Joint account operation with up to four account holders.
  • Provision to capture Operator/Nominee/Guardian details.
  • Details of Bills pending for the account can be retrieved directly.
  • Provision to Return/ Refer/ Stop cheque leaves.
  • Provision to freeze accounts.
  • Inoperative Transfer wizard for automatic closure of idle accounts and opening of respective Inoperative accounts.
  • Unclaimed Transfer wizard for automatic closure of idle accounts and opening of respective Unclaimed accounts.
  • Folio charge deduction wizard for deducting folio charges from idle accounts.
  • Interest Application Wizard for calculating and applying interest for all accounts of the selected deposit type for the specified period based on monthly minimum balance and revised rates if any revision exists.
  • Automatic lien adjustment during account closing.
  • Cheque validation during payment transaction. (Cheque Number, Cheque Date, Account Limit)

Term Deposit

  • User definable deposit types and its attributes.
  • For a given deposit type, different interest rates can be set for different customer types for a period.
  • Provision to capture rates for Loan on deposit.
  • Automatic account number generation.
  • Joint account operation with up to four depositors.
  • Provision to capture Operator/Nominee/Guardian details.
  • Provision to freeze accounts.

Term Deposit

  • User definable deposit types and its attributes.
  • For a given deposit type, different interest rates can be set for different customer types for a period.
  • Provision to capture rates for Loan on deposit.
  • Automatic account number generation.
  • Joint account operation with up to four depositors.
  • Provision to capture Operator/Nominee/Guardian details.
  • Provision to freeze accounts.
  • Interest Application Wizard for calculating and applying interest for all accounts of the selected deposit type for the specified period.
  • Interest calculation takes holidays also into account if maturity date falls on a holiday. (depends on the attributes set during deposit definition).
  • Simple or Compound Interest Calculation.
  • Automatic lien adjustment during account closing.
  • Matured Deposit Transfer wizard for automatic closure of matured accounts of the selected deposit type and opening of respective Matured Deposit accounts.
  • Cash Transaction limit verification during payment.
  • Renewal of accounts allowed based on deposit type attributes and renewal history is maintained.

Notice Deposit

  • User definable deposit types and its attributes.
  • For a given deposit type, different interest rates can be set for different customer types for a period.
  • Provision to capture rates for Loan on deposit.
  • Automatic account number generation.
  • Joint account operation with up to four depositors.
  • Provision to capture Operator/Nominee/Guardian details.
  • Provision to freeze accounts.
  • Interest calculation takes holidays also into account if maturity date falls on a holiday. (depends on the attributes set during deposit definition).
  • Automatic lien adjustment during account closing.
  • Cash Transaction limit verification during payment.
  • User updateable Deposit Notice date.

Recurring Deposit

  • User definable deposit types and its attributes.
  • For a given deposit type, different interest rates can be set for different customer types for a period.
  • Provision to capture rates for Loan on deposit.
  • Automatic account number generation.
  • Joint account operation with up to four depositors.
  • Provision to capture Operator/Nominee/Guardian details.
  • Provision to freeze accounts.
  • Automatic lien adjustment during account closing.
  • Cash Transaction limit verification during payment.
  • Automated Pending installment and fine calculation.
  • Quarterly Compounding Interest Calculation.
  • Provision for Extension of due date of a matured account if any installments are pending.

Loan Emergency Loan

  • Can define various types of loans and its attributes.
  • Interest revisions for each type of loan that can be applied only to new loans or all existing loans.
  • Application processing.
  • Eligible amount calculation (based on shares held, salary, liability & arrears)
  • User definable asset grading & NPA report.
  • Interest amount calculation from the given date and reverse calculation of interest-applied date from the given received amount. The interest calculation take cares all the interest revisions.
  • Transaction history will be shown in tabular format on ledger entry screen.
  • Net liability/arrears of the loanee and the liability report is available in the ledger as well as application.
  • Notice generation.
  • Various types of arrear/ balance statements.

Loan Termed Loan

  • Can define various types of loans and its attributes. Loan sureties can be member, property, vehicle or a combination of these.
  • Interest revisions for each type of loan that can be applied only to new loans or all existing loans. The interest calculation take cares all the interest revisions
  • Application processing.
  • Recommended amount & installments calculation based on user definable parameters. ie, Shares held, salary, liability, arrears, retirement period, property value, share held by surety, salary of the surety, retirement period of the surety etc.
  • Committee recommendation report.
  • User definable asset grading & NPA Report.
  • Interest amount calculation from the given date and reverse calculation of interest-applied date from the given amount.
  • Transaction history on the ledger entry screen in tabular format.
  • Provision for EMI loans.
  • Supports multi-part payments.
  • Rebate calculation.
  • Automatic EMI installment amount calculation
  • EMI-installment amount could be recalculated and re-fixed based on interest revisions.
  • Net liability of the loanee and sureties.
  • Notice generation.
  • Various types of arrear/ balance statements.

Loan - Loan on Deposit

  • Can define various types of loans and its attributes.
  • Application processing.
  • Recommended amount calculation (based on deposit amount balance and other liabilities of the deposit).
  • User definable asset grading & NPA Report.
  • Interest amount calculation from the given date and reverse calculation of interest-applied date from the given amount.
  • Transaction history on the ledger entry screen.
  • Net liability of the loanee.
  • Lien statement.
  • Auto-updation of lien details at the time of disbursement, receipt and closing.
  • Various types of arrear/ balance statements.

Overdraft

  • User definable Overdraft Type and its attributes.For a given overdraft type different rates can be set for different limits and these rates can be revised. New limits can also be defined for the overdraft type.
  • Overdraft types can be defined against surety of Member, Vehicle, Property, Gold and Deposit. The criteria’s to be considered for Limit determination can be given individually for each surety type.
  • NPA grades can be defined for each Overdraft Type.
  • Overdraft Application Processing.
  • Overdraft applicant details fetched directly from membership module based on the given member number.
  • Member Liability statement As on a date.
  • For OD against Member or Deposit surety details will be fetched directly from the respective modules.
  • Recommended Limit calculation based on surety and generation of report for submission to committee.
  • All Overdraft related transactions can be carried out from a single user interface (screen).
  • OD Interest calculation based on daily minimum balance.
  • Interest amount and Interest up to date will be calculated based on Transaction date or on the amount involved in the transaction.
  • Cheque validation during payment transaction. (Cheque Number, Cheque Date, Account Limit)
  • Provision for renewal OD account based on overdraft type attributes and renewal history is maintained.
  • OD account limit can be revised. Interest dues will be calculated based on the limit applicable for the period concerned.
  • Provision for declaring an account as NPA.
  • Details of Bills pending for the account can be retrieved directly.
  • Overdraft transactions shown in a tabular format with the last three transactions immediately visible.
  • Provision for entering other charges.
  • Account holder addresses can be updated from Overdraft module itself, which will be reflected in membership module also.
  • Interest Application Wizard for calculating and applying interest for all accounts of the selected overdraft type for the specified period.
  • Provision for issuing Stop Memo against an account or Stop Payment against a cheque.
  • Provision to Return/ Refer cheque leaves.
  • Overdraft Registers (Opened, Closed, Freezed, Expired).
  • Overdraft Annual Statement, Summarized or Detailed or Rangewise Overdraft As On statement.
  • Cheque Stop memo, Returned and Returned Listing.
  • OD Account Balance Confirmation certificate.

Chitty / Group Deposit/ MBF

  • Can define various Chitties/GDs/MBFs
  • Chitty/ GD suspense collection facility.
  • Automatic transfer of chitty/GD suspense to premium a/c at the time of registration.
  • Automatic creation of foreman’s installment receipt auction transfer.
  • Transaction history will be displayed in tabular format on ledger screen.
  • Future liability of the chittal will be displayed on the screen.
  • Chittal addresses can be updated from the module itself, which will be reflected in membership module also.
  • Fully automated calculation of premium, veetha palisa, ready commission, interest, foreman’s commission and bid amount.
  • All Chitty/GD related transactions can be carried out from a single user interface.
  • Various reports like Chitty daybook, chitty subsidiary ledger, chitty cash book, chitty extract, chitty arrear details, Kurry table, chittal lists, non-defaulted chittals etc.
  • Chitty balance sheet.
  • Provision to enter chitty related miscellaneous expense and income.
  • Facility to enter chitty related sureties( members, deposits & others) which will be considered in the liability and lien calculation.

Locker

  • User definable lockers.
  • User definable locker types based on cell dimensions of the defined locker.
  • Locker rent definition based on Locker types.
  • Provision for mapping key numbers to locker cells.
  • Provision for defining Bank Locker cell in a given locker.
  • Facility for Locker Rent revision.
  • Locker Application processing.
  • Graphical representation of locker and locker cell availability.
  • Storage of standing instruction for locker rent collection.
  • Locker rent notice generation.
  • Automated calculation of Locker dues.
  • Graphical representation of locker and locker cell status (Arrear, Joint, Disabled, Vacant, Occupied)
  • Rent revisions in the period concerned are also taken into account for Rent calculation.
  • Locker Transaction Log is maintained.

Verification - Passing Official

  • Passing official user interface in which details can be seen on a Daily basis.
  • Cash and Transfer transactions available in separate tabs for easier verification.
  • Provision for viewing Passed and Not Passed Transactions separately or together.
  • Transactions can be viewed in summarized or detailed formats.
  • Receipt and Payment transactions can be viewed separately or simultaneously.
  • Passed / Unpassed Status of associated transactions will be set automatically when user changes status of any one transaction.

Verification - Passing Cashier

  • Cashier Verification user interface in which details can be seen on a Daily basis.
  • Receipt and Payment transactions available in separate tabs for easier verification.
  • Provision for viewing Passed and Not Passed Transactions separately or together.
  • Passed / Un passed Status of associated transactions will be set automatically when user changes status of any one transaction.
  • Provision for Batch Processing of multiple vouchers to determine net payable or receivable.
  • q. Verification - Cash Book
  • r. Verification - Cashier Denomination
  • Cashier denomination in which user only has to input Cash Taken to Counter and Counter Closing Balance.
  • Cashier scroll net balances shown for easier balance determination and verification.

Analytics

a. MIS-Line diagram


  • User definable templates.
  • User definable items of comparison.
  • Infinite combination of items to perform comparison.
  • Consolidated bank (Head Office) as well as Branch wise performance over a period.
  • Enables efficient monitoring and decision making by board of directors.

b. MIS–Pie diagram


  • Enables efficient monitoring and timely decision making by board of directors.
  • Consolidated bank (Head Office) as well as Branch wise position as on the date.

c. RBI Report – Form IX


  • Template based RBI statements.
  • User definable head details
  • Provision for retrieving previous RBI filings.

d. Balance Sheet Template


  • Dynamic anytime RBI & Departmental balance Sheet with reserves, payables & receivables.
  • Dynamic anytime Balance Sheet from user defined templates.
  • Provision for retrieving previous Balance Sheets/template.
  • Branchwise ad Consolidated R&D, General Ledger, Balance Sheet

Security

  • General security framework built over industry standards for identifying and applying practices for authorization, authentication, cryptography, session management, sensitive data management, infrastructure security, auditing and logging.
  • Authentication: Unique user codes and passwords for Core Banking Access; Password expiration and user disablement; User passwords stored one-way encrypted
  • Authorization: User credentials and privileges validation on every resource and application block; Personal permissions on banking services
  • Session management: Unique session identifiers and secured session details storage; Session lifetime control on every discrete user action
  • Sensitive data management: Sensitive data stored, sent over network and logged in encrypted form Infrastructure security: Secured network infrastructure provided by the Bank; Encrypted traffic between application tiers; SSL where applicable; Securing banking servers
  • Auditing and logging: Full log of user activity; Audit of application activity through all application tiers