Banking and Finance is one of the most dynamic and continuously evolving industries. The advancement in sophisticated technologies and their applicability in these sectors have had enormous impact in transforming the BFS landscape.
Advancement in technology has enabled the delivery of banking products and services to its customers more easily and efficiently, increasing flexibility and convenience to its customers. Accelerated access to information, efficient & quick responses and flexible services are the hallmarks of successful banks. Banks have undergone tremendous transformations, as they now provide more complex services and newer products like internet banking, mobile banking, ATMs, credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, custodian services and private equity.
CMC has in-depth knowledge and comprehensive understanding of the banking and financial sector, having successfully served this sector for over 20+ years. Drawing from this experience, we have built custom made innovative and cost effective solutions which are providing mission critical services to key enterprises. Our banking products provide anytime, anywhere solutions with various delivery mechanisms like internet banking, telebanking and ATMs, all of which can be centrally controlled. Our solutions span stock exchanges, as well as depositories and custodial services, designed to address the changing needs of the industry and to meet special business requirements such as quick and flexible processes with robust and secure functionalities.
CMC has its own product,TC/4, that covers all corebanking functionalities for the Banking Industry.
TC/4 is a total banking solution, with integrated delivery channels such as internet banking, tele-banking and ATMs, that can be centrally controlled. It offers comprehensive and cost-effective data warehousing and disaster recovery systems, as well as online bank-wide MIS and automated inter-branch reconciliation.
CMC has in the past also built capabilities in building other key BFS solutions such as :
- Comprehensive customer and account management systems for information and data processing needs for retail banking operations.
- Treasury management system, addressing both domestic and forex.
- Risk management tools for management of Bank operations such as investment / disinvestment decisions, maintaining the required statutory liquidity ratio (SLR), credit reserve ratio (CRR) and other ratios as per Reserve Bank of India (RBI) guidelines
CMC’s Solutions for the Financial Industry are:
Versatile Engine for Centralised Training & On-Line Reporting (VECTOR) is CMC's automated system for securities trading. The system is tested to handle a volume of 100 orders per second on HP's L-class enterprise server. Our securities trading software is running at a dozen stock exchanges — in India and Bangladesh (Chittagong Stock Exchange). The Bombay Online Trading System (BOLT) is one of CMCs most known and significant implantations of an on-line Trading System for Stocks. The System has been operational at Bombay Stock Exchange since March 1995.
Derivatives Training & Settlement System (DTSS) can handle all kinds of derivative products like exchange trades index futures, index options and stock options. It provides a real-time interface to Standard Portfolio Analysis (SPAN), a risk management system developed by the Chicago Mercantile Exchange (CME). DTSS is also tuned to handle commodity options.
Versatile Depository & Accounting System (VeDAS is a comprehensive system for the complete installation and commissioning of a depository in an automated environment. At the core of the system is highly parameterized software designed for a centralized banking application. The system has enhanced security features that prevent user access to the server and the database. It initiates policy-based password protection at regular intervals, has different user-level access rights for the depository staff and conducts regular audit trails and account monitoring.
DpSecure:DpSecure is a centralized depository back-office product developed with the most up to- date technology. It uses an extremely thin client front-end, developed using COM components. This ensures that a minimum of resources are required at the branch workstations, resulting in protection of the existing infrastructure. It can also be integrated with other add-on delivery mechanisms like internet query, wireless application protocol (WAP), IVRS (tele-operation), ATM.
CMC’s offers a wide range of services for its BFS clients. The services are as follows:
Systems Integration Services
CMC provides services specific to BFS industry build with is deep domain experience in this sector including core application development, Non Functional and Functional Testing using existing test script and test case repository specifically developed for the BFS industry, Analytics & Data warehouse based on specific Key Performance Indicators (KPIs) for the BFS sector that are agnostic of the underlying core applications, Migration methodologies specific to the BFS industry and so on.
- Application Development & Maintenance services:
- Application Testing Services-
- Business Intelligence Solution and Services
- Data warehouse
- Business analytics
- Data Migration Services
The ITeS services provide crucial end to end services for BFS including Document Management Services Finance Management tools that can cope both efficiently and effectively with increasing regulations, expanding supply chains, cost pressures, competition, & advanced accounting support services globally with its proven IT solutions backed by team of accounting professionals and industry experts.
- Document Digitization Services.
- Document Management Services-
- Accounting Platform Services- Accounting including
- Liquidity Generation & Cash Management Analysis
- Pre and Post Merger Analysis
- PROCURE TO PAY advanced services and solutions to integrate and manage supplier-facing processes including supplier maintenance, supplier network management, payment processing etc.
- Enterprise IT Infrastructure Management Services
- IT Infrastructure Management Services
- Information Security Services
- Remote Infrastructure Monitoring Services (RIM)
- Training including specific Banking, Functional Training and Behavioral Training