Chennai, Nov. 19: As part of the state government’s ongoing efforts to digitise the government machinery, state cooperative minister Ko.Si. Mani on Friday launched exclusive common application software for all district, central cooperative banks and urban cooperative banks in the state.
The new software would enable facilities like ATM, Internet banking and SMS banking, a feature only private and nationalised banks have, Mr Mani said. It also meets international standards for financial transactions in terms of security and it would be scalable to core banking solution too.
The new software also enables inter-operability between banks besides cutting down cost and optimising efficiency of service to the customer.
The software also deprives the cooperative bank customers of linguistic restrictions since the system could be converted to a language of user’s choice.
To begin with, data porting into the common application software ia being done in 1020 branches and about 930 bank branches are online. The new common application software developed with the support of Electronic Corporation of Tamil Nadu (Elcot) using open source technology could be altered or transferred to any other government body since the complete source code of it would be propriety of the cooperative department.
The software comprising 33 modules has been designed to cater to branch banking and head office module. While the branch module would meet all the basic banking functions of the district, central and urban cooperative banks, the head office module would cover back office operations such as staff management, payroll, tapal, reconciliation besides treasury operations such as investments and borrowings.
courtesy : Deccaan Chronicle
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