This document discusses how Innoviti's uniPAY system streamlined payments and reconciliations for an educational institute. The uniPAY system integrated billing and payments, centralized transactions in the cloud, and aggregated payment options like EMI plans. This reduced manual efforts, errors, and costs while improving the customer experience by offering convenient payment options.
Technology and trends in banks
Benefits of technology in banking
Banking software products
Globalisation of banking
Satellite banking
Technological development
Phone banking
Online banking
RTGS
NEFT
Bancassurance
Core banking solutions
Prabhav Jain | Ulti kitab
Technology and trends in banks
Benefits of technology in banking
Banking software products
Globalisation of banking
Satellite banking
Technological development
Phone banking
Online banking
RTGS
NEFT
Bancassurance
Core banking solutions
Prabhav Jain | Ulti kitab
What constitutes a Core Banking System ? Advantages and disadvantages of core banking system and why we need core banking system. For more visit https://www.sesameindia.com/core-banking-solution-beaconpro
Confused about the changing world of chip cards? Learn everything you need to know about payments, EMV and eChecks from Forte Payment Systems' Josh Budd.
The National Payments Corporation of India (NPCI) NACH platform facilitates high volume inter-bank electronic payments which may be repetitive or periodic in nature. Customers can authenticate NACH mandates in various forms using paper mandates as well as electronic mandates for these kinds of payments.
Computerized banking system is a proven, secure, modular, on-line, real-time, flexible, scalable, multi-currency. It is user friendly, easy to manage, and easy to operate information system, based on fully integrated and co-operative components.
This study notes will give you the complete knowledge about Centralized Online Real-Time Environment Banking System. From initially required knowledge to like how the bank works with the list of primary operation it also explains the detailed architecture of banking system with all relevant parameters. In addition, it also gives you the detail like audit procedure with relevant controls. Also gives you the required knowledge of IT Act and Cyber Frauds and more.
Payment and settlement systems in india vision - 2019-21Mukul Kumar
This PPT is intended to give a brief overview of the vision document titled “Payment and settlement systems in India: Vision – 2019-2021” published by RBI.
Indian Banking Moving towards a new landscape - Current Trends in Indian Ban...Resurgent India
Given the fluctuating interest rate cycle and underlying macro-economic factors, banks have been looking to diversify their sources of income. This has led to emergence of new products under asset management, wealth management and treasury.
Connected with Your Systems. Connected with Your Suppliers. Vendorin Connect integrates seamlessly with most financial systems, requires no investment in hardware or software, leverages your existing bank relationships, and provides a direct connection to hundreds of thousands of electronically enabled suppliers who are ready to begin accepting electronic payments from your organization. The result is a quick and easy implementation and the immediate conversion from checks to electronic payments.
What constitutes a Core Banking System ? Advantages and disadvantages of core banking system and why we need core banking system. For more visit https://www.sesameindia.com/core-banking-solution-beaconpro
Confused about the changing world of chip cards? Learn everything you need to know about payments, EMV and eChecks from Forte Payment Systems' Josh Budd.
The National Payments Corporation of India (NPCI) NACH platform facilitates high volume inter-bank electronic payments which may be repetitive or periodic in nature. Customers can authenticate NACH mandates in various forms using paper mandates as well as electronic mandates for these kinds of payments.
Computerized banking system is a proven, secure, modular, on-line, real-time, flexible, scalable, multi-currency. It is user friendly, easy to manage, and easy to operate information system, based on fully integrated and co-operative components.
This study notes will give you the complete knowledge about Centralized Online Real-Time Environment Banking System. From initially required knowledge to like how the bank works with the list of primary operation it also explains the detailed architecture of banking system with all relevant parameters. In addition, it also gives you the detail like audit procedure with relevant controls. Also gives you the required knowledge of IT Act and Cyber Frauds and more.
Payment and settlement systems in india vision - 2019-21Mukul Kumar
This PPT is intended to give a brief overview of the vision document titled “Payment and settlement systems in India: Vision – 2019-2021” published by RBI.
Indian Banking Moving towards a new landscape - Current Trends in Indian Ban...Resurgent India
Given the fluctuating interest rate cycle and underlying macro-economic factors, banks have been looking to diversify their sources of income. This has led to emergence of new products under asset management, wealth management and treasury.
Connected with Your Systems. Connected with Your Suppliers. Vendorin Connect integrates seamlessly with most financial systems, requires no investment in hardware or software, leverages your existing bank relationships, and provides a direct connection to hundreds of thousands of electronically enabled suppliers who are ready to begin accepting electronic payments from your organization. The result is a quick and easy implementation and the immediate conversion from checks to electronic payments.
As Fintech companies have flooded the scene and disrupted the financial industry, traditional banks have had to innovate in order to stay ahead of the pack. We bring to you the latest terms and innovations of the Banking Sector, through this presentation. Hope you find it useful.
Digital Invoicing & Digital Payments | Emagia Digital Invoicing Software | Di...emagia
Digital Invoicing & Digital Payments
2021 Big Year for Digital Invoicing and Digital Payments
The movement toward working from home has exposed the inefficiencies associated with paper invoices and paper checks in the B2B space. Banks were closed. Paper invoices and checks delivered to offices sat in unopened envelopes. Thus, the pivot to digital B2B invoicing and digital payments became an immediate priority for businesses.
Digital Invoicing (aka E-invoicing and E-billing) is electronic delivery of an invoice to a customer (vs paper invoice sent via Postal Service) by email, SMS, portal, EDI and other electronics channels.
Most Digital Invoicing applications include added functionality: (a) pull in data required for invoice from ERP for automated production of invoice, (b) include Credit/Debit adjustments, (c) electronic distribution and tracking (d) reminders and dunning
Digital Payments, aka Real Time Payments (RTP), and “Frictionless Digital Payments” are electronic payments that transfer funds and remit advice
Digital Payments are made directly between buyer and seller through a direct, secure, payment gateways using credit card, direct ACH debit or credit, wire, direct transfer on an Account to Account (A2A) basis.
Digital Invoicing & Digital Payments Synergy
Digital Invoicing, Digital Payments, and a Customer Care Portal are most powerful when offered together
The combination is appealing to small and medium size B2B customers & B2C customers to deal with the invoice review & pay. Stripe claims 75% of invoices it delivers on behalf of its clients are paid same day!
A Customer EIPP Portal facilitates the end-to-end transaction: (a) enabling the payment and (b) providing access to the invoices and statement of account (c) providing digital assistant for 24x7 account enquiry
Payments can be made via a wide range of mobile devices
All Invoicing and payment data is captured
Digital Invoicing
The Imperatives of Invoicing:
a. Accuracy (99+%)
b. Delivery in prescribed method (email, SMS, portal)
c. Meet customer’s invoicing requirements: information & format
d. Many European & LatAM govts require e-invoicing
Digital Invoicing achieves high accuracy by extracting invoice data from ERP, eliminating human error, deliver invoices electronically in multiple ways
Know The Reason Why eCheck Payment Processing Is RisingPaycron
Many big companies in the US are searching for ways to streamline the payment process and even improve the customer transaction experience by adopting the eCheck payment processing system. Read PDF to know more!
Automation of business-to-business (B2B) payments continues to remain elusive. While checks are stubbornly pervasive, there is promising news in the vision for processing data and dollars among business partners. This session will detail NACHA and other industry organizations’ initiatives leading the way in facilitating the move from paper instruments to electronic payments by mid-sized and smaller businesses. Learn about opportunities for electronic disruption and where financial institutions might begin to gain traction in B2B ACH payments.
Explore Sarasota Collection's exquisite and long-lasting dining table sets and chairs in Sarasota. Elevate your dining experience with our high-quality collection!
When listening about building new Ventures, Marketplaces ideas are something very frequent. On this session we will discuss reasons why you should stay away from it :P , by sharing real stories and misconceptions around them. If you still insist to go for it however, you will at least get an idea of the important and critical strategies to optimize for success like Product, Business Development & Marketing, Operations :)
Reflect Festival Limassol May 2024.
Michael Economou is an Entrepreneur, with Business & Technology foundations and a passion for Innovation. He is working with his team to launch a new venture – Exyde, an AI powered booking platform for Activities & Experiences, aspiring to revolutionize the way we travel and experience the world. Michael has extensive entrepreneurial experience as the co-founder of Ideas2life, AtYourService as well as Foody, an online delivery platform and one of the most prominent ventures in Cyprus’ digital landscape, acquired by Delivery Hero group in 2019. This journey & experience marks a vast expertise in building and scaling marketplaces, enhancing everyday life through technology and making meaningful impact on local communities, which is what Michael and his team are pursuing doing once more with Exyde www.goExyde.com
Salma Karina Hayat is Conscious Digital Transformation Leader at Kudos | Empowering SMEs via CRM & Digital Automation | Award-Winning Entrepreneur & Philanthropist | Education & Homelessness Advocate
What You're Going to Learn
- How These 4 Leaks Force You To Work Longer And Harder in order to grow your income… improve just one of these and the impact could be life changing.
- How to SHUT DOWN the revolving door of Income Stagnation… you know, where new sales come into your magazine while at the same time existing sponsors exit.
- How to transform your magazine business by fixing the 4 “DON’Ts”...
#1 LEADS Don’t Book
#2 PROSPECTS Don’t Show
#3 PROSPECTS Don’t Buy
#4 CLIENTS Don’t Stay
- How to identify which leak to fix first so you get the biggest bang for your income.
- Get actionable strategies you can use right away to improve your bookings, sales and retention.
Textile Chemical Brochure - Tradeasia (1).pdfjeffmilton96
Explore Tradeasia’s brochure for eco-friendly textile chemicals. Enhance your textile production with high-quality, sustainable solutions for superior fabric quality.
How to Build a Diversified Investment Portfolio.pdfTrims Creators
Building a diversified investment portfolio is a fundamental strategy to manage risk and optimize returns. For both novice and experienced investors, diversification offers a pathway to a more stable and resilient financial future. Here’s an in-depth guide on how to create and maintain a well-diversified investment portfolio.
Best Crypto Marketing Ideas to Lead Your Project to SuccessIntelisync
In this comprehensive slideshow presentation, we delve into the intricacies of crypto marketing, offering invaluable insights and strategies to propel your project to success in the dynamic cryptocurrency landscape. From understanding market trends to building a robust brand identity, engaging with influencers, and analyzing performance metrics, we cover all aspects essential for effective marketing in the crypto space.
Also Intelisync, our cutting-edge service designed to streamline and optimize your marketing efforts, leveraging data-driven insights and innovative strategies to drive growth and visibility for your project.
With a data-driven approach, transparent communication, and a commitment to excellence, InteliSync is your trusted partner for driving meaningful impact in the fast-paced world of Web3. Contact us today to learn more and embark on a journey to crypto marketing mastery!
Ready to elevate your Web3 project to new heights? Contact InteliSync now and unleash the full potential of your crypto venture!
2. A Glimpse Of Innoviti
2
Case study: Transforming payments
in educational institutes
3. A Glimpse Of Innoviti
3
Problem identification
• Time consuming: Billing and payment are two
independent activities
• Human errors: Entry of card numbers &
approval codes
• Excessive manual efforts
• Double debits adding to customer worries
• Double debits adding to customer worries
• Tedious MIS reconciliation at backend
• Extra man hours leading to additional costs
• Quality concerns
• No EMI’s
4. A Glimpse Of Innoviti
4
Proposal
• Integrates billing tender modes with e-payment
acceptance to reduce reconciliation concerns
• Centralizes all transactions in cloud for least cost
routing (LCR) & automatic settlement
• Aggregates payment options – point redemption, EMI,
CC to simplify cashier process and enhances
customer experience
• Helps cut costs through fraud prevention and
improved productivity
• Helps in packaging services based on patient insights
• Supports marketing programs by offering an
unparalleled view of patient transaction analytics
uniPAY – Innoviti’s automation system for accepting credit/debit card
payments
5. A Glimpse Of Innoviti
5
Existing transaction & reconciliation flow
Ramesh comes to
the bill counter of
Alpha Institute
He stands in the
queue & submits
the application form
Cash collected.
Txn closed
He swipes the card/
inserts it in EDC to
facilitate transaction
Txn info gets transferred
from EDC to acquirer
bank server thru phn
network
Acquirer bank transfers
data to issuer bank thru
VISA/ MASTER for
authentication
Txn gets approved.
Charge slip is
printed @ EDC
Money transferred
to Alpha Institute’s
account
Cash
Card
Billing process initiated.
Billing amt reflects on
billing system
He decides on
payment mode.
Transaction gets
initiated
Suresh – the cashier
manually enters bill
amt into bank EDC
Suresh handles the time
consuming manual
settlement @ EOD
Finance & Back end
teams of Alpha Institute
are consumed by
manual reporting
Suresh is unable to present EMI
options to support deserving students
without financial back-up unavailable
6. A Glimpse Of Innoviti
6
Streamlining the flow using uniPAY
Ramesh comes to
the bill counter of
Alpha Institute
He stands in the
queue & submits
the application form
Cash collected.
Txn closed
He swipes the card/
inserts EDC to
facilitate transaction
Txn info transferred
from EDC to acquirer
bank server thru phn
network
Acquirer bank transfers
data to issuer bank thru
VISA/ MASTER for
authentication
Txn gets approved.
Charge slip is
printed @ EDC.
Money transferred
to Alpha Institute’s
account
Suresh handles the
time consuming
manual settlement
Cash
Card
Billing process
initiated.
Billing amt reflects on
billing system
He decides on
payment mode.
Transaction gets
initiated
Suresh – the cashier
manually enters bill
amt into bank EDC
Finance & backend
teams of Alpha
Institute are consumed
by manual reporting
7. A Glimpse Of Innoviti
7
Revised transaction & reconciliation flow
Customer comes to
the bill counter
Billing.
Billing amt reflects
on HIS
Decision on
payment mode.
Transaction initiated
Cash collected.
Txn closed
Innoviti switch
transfers the data to
the acquiring bank
Cash
Card uniPAY client gets
invoked.
Amt details transferred
to EDC
Card swipe/ insert.
Encrypted data
transferred to uniPAY
client
Txn info transferred
from uniPAY client to
Innoviti Server through
hospital network
Acquiring bank transfers
the data to issuer bank
thru VISA/ MASTER for
authentication
Transaction settles
automatically.
Money transferred in T+1
days to ABC Hospital
account
Suresh now presents EMI options to
support deserving students without
sufficient financial back-up is made
available
8. A Glimpse Of Innoviti
8
Benefits
Increased sign-ups
covering infra costs
(with EMI options)
Insights from
payments data
Offers (cash
backs, reward
point redemption,
etc.)
Deserving
candidates
sign up (EMI
options)
Offline & Online
integration
Marketing
Finance/ Accounts
Tracking & review
of student data
Savings on telephone costs,
late settlement charges, DCC.
Nullification of cashier fraud
No double debits Monitoring &
measurement
Quick MIS
reconciliation
9. A Glimpse Of Innoviti
9
Benefits
Faster, safer & more
convenient options Higher
accountability
No human errors
Queue busting Auto settlement
& reporting
Operations
S. No Summary of benefits Status
1 Quality
2 Financial control
3 Multi-bank acquiring for least cost routing
4 Increased enrollments (with EMI options)
5 Bajaj Finance EMI
6 Student experience
7 Employee satisfaction & retention
8 Payments data driven promotional campaigns
10. A Glimpse Of Innoviti
10
New solutions implemented
• Billing system calls uniPAY client which is connected to EDC with a USB cable
• Card payment now takes place in an integrated mode where cashier swipes the card in the EDC
• Card information gets encrypted at EDC and transferred to uniPAY client
• uniPAY client transfers this information to uniPAY server using institutes network
• uniPAY switch then transfers the data to the acquirer bank
• Acquirer bank transfers the data to issuer bank for authentication post which it sends an authentication
code to EDC for printing the charge slip
11. A Glimpse Of Innoviti
11
Approximate savings
Cost reduction/Revenue Unit Savings
Telephone cost Rs 262,800
Reconciliation issues Rs 238,150
Late settlement charges Rs 1,314,000
Late presentment charge-back cases Rs 39,420,000
Conversion of cash to card Rs 1,576,800
Fraud costs Rs 26,280,000
DCC savings Rs 6,570,000
Total cost reduction Rs 75,661,750
Cost reduction/Revenue % 0.29%