National Automated Clearing House (NACH) an Overview by VSoft
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Transcript of National Automated Clearing House (NACH) an Overview by VSoft
NACH Mandate Management An Overview
VSoft Technologies Pvt. Ltd.
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NPCI – NACH Objectives
A Centralized Platform across the country
Harmonizes Standard & Practices in ACH Payments
Consolidates multiple ECS Systems across the country
Provide National footprint to all CBS enabled banks.
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NACH System Overview
• Facilitates interbank, high volume, electronic transactions
which are repetitive and periodic in nature.
• NACH Credit: Distribution of subsidies, dividends, interest,
salary, pension etc.
• NACH Debit: Collection of payments pertaining to telephone,
electricity, water, loans, investments in mutual funds,
insurance premium etc.
• Participants: Banks, Financial Institutions, Corporate and
Government
NACH Process Flows
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Mandate Initiation: Sponsor Bank
Corporate
Sponsor
Bank
NPCI NACH Network
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5
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7
9
10
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1
Customer Initiates Mandate
through Corporate
Destination
Bank
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Back-end
Digitization of
physical
mandates
Files Sent to
Destination
Bank
UMRN
generated by
NACH System
Data & Image files
sent to NACH
Verification &
approval of
mandates
Updates corporate
with detailsCorp. sends
mandate to
Sponsor
Bank
Returns file sent
to Sponsor Bank
Returns Files
Send to NACH
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Mandate status updated
in NACH
Sponsor Bank Initiated Mandate Flow
812
Mandate Status
Updated
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Mandate Initiation: Destination Bank
Corporate
Sponsor
Bank
NPCI NACH Network
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5
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9
10
11
1Customer Initiates Mandate
through Destination Bank
Destination
Bank
2Back-end
Digitization of
physical
mandates
Verified
image/data
sent to NACH
UMRN
generated by
NACH System
Verified files sent to
Sponsor Bank
Verification
& approval
of mandates
Updates
corporate
with
details
Corp. updates
database &
sends
confirmation
response to
sponsor bank.
Sponsor Bank updates
database & sends
confirmation
Confirmation of
mandate status
sent to Destination
Bank
3Mandate status
updated in NACH
Destination Bank Initiated Mandate Flow
Centrum Mandate Enabled ACH Payments System
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Product Vision
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Overview of Features
End-to-end Solution• Image Based Mandate Management Module• ACH Transaction Management Module• Fully Compliant with NPCI Guidelines
Easy Administration• Common Console for user setup and security configuration• Configurable Product-based ACH transaction processing • Corporates and Corporate Users setup
Comprehensive Mandate
Management
• Initiation and acceptance of mandates • Compliant with multiple scanner types• Intelligent image analysis, auto repair & duplicate detection • Outward and inward mandate management • MIS & Analytics
Value Added Services
• Corporate Interface for Direct Mandate Upload• Net position monitoring facility for Corporates• Automated alerts and feedback for Corporate users
Comprehensive ACH Transactions
Management
• Outward and inward ACH transaction management • Wide range of transaction types – ACH, APBS, ECS and EBT• Rich MIS & Analytics • ISO 8583 Compliant Interface to CBS for ACH transaction posting
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Product RoadmapP
roduct F
eatu
re E
volu
tion
Version 1.0: • Mandate Management– O/w & I/w processing– Lifecycle Management – Archival & Research
• Transactions Management– O/W & I/W processing – Archival & Research
• Corporate Access – Status Reports – Transaction upload
Version 2.0: • Charges Module – Itemized reports– Charges logic – Invoicing
• End user alerts – sms alerts – email alerts
• Customized Process Flows