Case Study

CENTRALIZED CORE APPLICATION SOFTWARE FOR BUSINESS ACCOUNTING

The customer is a premier, profitable financial services company in the public sector, based in India, with over 600 branches and a turnover exceeding Rs 100 B. The existing IT system of the customer was distributed and facilitated only branch-level automation. Inter-branch transfers had to be factored manually. Key figures in branch-level data were synchronized to the central Office through a periodic process for creating MIS and other reports. This mix of manual, automated and non-synchronized processes often led to data integrity issues. The customer could also not provide any-branch-banking on a full-fledged basis to its thousands of clients due to the lack of a centralized real-time transaction processing system. The customer was desirous of automating all the core business accounting processes and offering its clients better services by introducing modern concepts like “any-where, any-time and any-device” banking gradually which required a sophisticated and centralized core application capable of real-time transaction processing.

SOLUTION METHODOLOGY

NeST Digital devised a solution for the customer involving the following phases:

  • System study to capture and analyse user requirements and pain points, including study of IT systems deployed in the customer facility.
  • Business Process Re-engineering of the processes and workflows followed by the customer after Bench-marking the same with industry best practices.
  • Design, development, testing, deployment and roll-out of a JEE-based web application (with MySQL DB back-end), to automate all the core business processes with related data migration, training & hand-holding of the customer personnel, etc.
  • Maintenance & support of the application, along with enhancements there-of (on-going project)

  • The core application developed and deployed by NeST Digital has a function point count of more than 20,000, indicating its size and complexity. It completely automated the business processes of the organisation (related to accounting and client servicing) with the following modules:
    • Chitty
    • Loan
    • Overdraft
    • Fixed Deposit
    • Fixed Asset
    • Data Migration
    • Accounting

Since the branches are spread out over a large, geographical area, redundancy in connectivity is provided through a primary MPLS backbone and a back-up VSAT network. Back-up through DR Server is provided for the main Central server to ensure Business Continuity.

NeST Digital is currently assisting the customer in rolling out the new core application to all the branches in a phased manner. To step up the performance and ensure concurrent log-in of around 3500 users simultaneously, clustering of Application Server and Database Server are also being undertaken.

The implementation of the core application has helped the customer achieve 100% automation of all financial product-related business processes. The clients of the customer are able to get the benefit of any-branch-banking. The stake-holders get real-time MIS reports. Thus, the system has not just eliminated data integrity issues, but also stepped up overall eciency and client satisfaction.

ABOUT NEST

NeST Digital, part of the US $ 200 m NeST Group, is a premier company specialized in providing software services and solutions to customers from diverse verticals like Aerospace, Banking & Financial Services, Insurance, Utilities, Healthcare , Manufacturing, etc. The company works with multifarious technology platforms, including Microsoft, Oracle, Open Source and legacy (mainframe), and combines domain expertise with proven skills in GIS, enterprise mobility and web technologies to create both custom applications and implement COTS solutions to meet the business requirements of its customers, which include start-ups, SMBs and Fortune 500 companies in equal measure.