To be competitive, banks constantly spend money on acquiring software applications – new or upgrades and new releases of an existing application. When these applications are outsourced from vendors, banks look for independent testing and validation services from the companies who have domain expertise, software development skills, expertise in testing and validation methodology, tool expertise and above all deep domain and product knowledge to contribute and enhance the said software applications through testing and validation. Inspirisys is ideally placed in providing this service and be a significant differentiator in value enhancement
Inspirisys has built up expertise on Java platforms and Microsoft platforms. This expertise coupled with domain knowledge in banking is used for providing application re-engineering services to banks, which are planning to move to newer technology platforms, framework and software strategy for scalability, cost reduction, user friendliness, higher maintainability and portability reasons. We will propose suitable re-engineering model that best fit the banking requirement after analyzing their existing setup and their current and future expectations.
Banks having client investments made for IT infrastructure are constantly looking for partners to whom the in-house developed application maintenance is given for minimizing risks and maximizing returns and migrating new technology platforms. Inspirisys is ideally positioned to take such application maintenance responsibility by offering the portfolio of services such as domain consulting, version management, code maintenance, system documentation, end user training, verification and validation, data migration & platform migration. We adhere to the stringent service level agreement and help the banks to reduce the total cost of ownership for their applications.
The domain consultants who provide consulting have expertise in application development, particularly in controlling product specifications, verification and validation, implementation and client sign off. This expertise is provided as a service by Inspirisys to Banks, which is desirous of developing complimentary solutions to core banking solution to meet their specific requirement.
Inspirisys can take up studies of Retail Banking, Corporate Banking, Subsidiary Banking, Consumer Banking, Management Information System, Currency Chest Management, Supervisory Control Regulations for Central Banks, Treasury, Settlements, Customer Relationship Management and Government Banking. Each study will clearly define the scope, objectives, and deliverables leading to the bank getting their problems studied, analyzed, tabulated, and presented in a form that will help them to take critical business decisions.
Inspirisys has been providing packaged application implementation services for the universal core banking solution Finacle to several banks in India and abroad, particularly in Asia-Pacific, Middle East and African Region. This expertise has been retained and enhanced to provide packaged application implementation services to any bank, which plan to migrate from legacy system to a core banking solution. As a part of this service, we provide consulting for selection of core banking solution, core team formation and training, user acceptance testing, data migration strategy, data migration services, MIS infrastructure, and so on. Each such client engagement will be for a period of 6-12 months, depending on the size of the bank and scope of the project. And, Inspirisys has successfully executed several such engagements in the last eighteen years.
To conclude, Inspirisys is uniquely placed to provide a range of services to banks that are keen to achieve quick and measurable returns on their investments in IT products and services.
The turnkey implementation service starts with a project kick off. After the project kick off, services offered for this category include:
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ISMART is a complete web-based management information system infrastructure. By deploying this, banks can quickly set up a bank wide web-based management information system through extraction of data and publishing of reports. Through its internet feature, external agencies like central bank, any supervisory/regulatory authority, etc., can access core banking solution as well as customer and control information periodically. The product provides a high ROI by reducing cost, improving efficiency, and increasing timely information flow. There are several banking clients including international clients for this product.
BI360 is basically the brainchild of the banking division of Inspirisys. It is developed on the background of providing the banks with MIS reporting and primarily helps the top management in making crucial decisions. It provides the appropriate interface to collect existing data from the banks existing software systems. It also has interfaces to enter additional data for MIS reporting at the bank/branch level. This data is then aggregated at various levels for reporting. This is the low-end cost solution for the banking industry, which is well succeeded in this industry.
GBM is developed by Inspirisys for meeting the banking requirements of handling government business at various bank branches spread across the country. GBM is a centralized web-based solution and having the capability to integrate with any of the Core Banking Application/Government Portals/Third Party Sub Systems. GBM covers the following requirements:
GBM generates all the management information reports needed for the bank/government/central bank authorities. By using this software, banks will be in a position to transfer the funds due to government/government agencies on time as well as claim funds on time that is due. It supports automatic interest calculation, commission calculations, etc. It helps the banks to improve productivity as productivity is a function of knowledge and delivery and also increase their non-interest earnings by way of turnover commission.