Tech mahindra
Tech mahindra

Commercial Payments

Tech Mahindra has been involved in the implementation of Payment Hub solutions that enable banks to consolidate and streamline their payment processing across various functional areas. Apart from assisting banks to increase operational efficiencies, drive STP, reduce TCO and reduce GTM for launching new products and services, we help banks to remain agile and nimble to the disruptions taking place in the payments world.

Key features of our solution offerings include

  • Payment Transformation strategy and Roadmap
  • End to end System Integration
  • Legacy re-engineering and documentation services
  • Architecture definition and implementation strategy
  • Payment engine selection and deployment services
  • System migration and decommissioning services
  • Payment digitisation services [Mobile, Analytics, etc.]
  • Value added products and services
  • Business Process monitoring strategy and implementation
  • Payment compliance assessment and strategy definition
  • Rapid prototyping and model based QA services
  • Platform based business models for payment processing
  • Dash boarding services for Corporates
  • Stress testing for payments services

Tech Mahindra offers proven solutions in the space of ACH (low value high volume, real time and file based) and RTGS (high value) integrations. Our solutions address various regulatory requirements, cater to business needs of customers and support banks to consistently manage high volume of transactions globally across the entire payments life cycle. We assist in building robust and comprehensive real time solutions with state of the art analytics capabilities. Our solutions are based on SOA design that allows flexibility, agility and scalability.

Key features of our solution offerings include 24x7 cost effective multi locational system maintenance, testing and production support. Tech Mahindra also offers the following services in Clearing and Settlement Systems Integration for domestic payments:

  • Support for end to end Domestic payment processing functions: Integration to ACH, RTGS, testing and support including file processing, transaction routing, transaction validation, fee calculation, exceptions management, automated rule-based return and recall processing etc., support payroll, expense and pension payments.
  • Support for major Domestic payment systems: Integration, testing and support services for domestic payment networks like GIRO, UK Faster Payments, CHAPS, BACS, CHIPS, Fed wire, Canada ACSS, NACH, NEFT, NG-RTGS etc.
  • Conceptualization, implementation, testing and support of Multi-currency, Multi-country, Multi-time zone and Multi-lingual needs requirements.
  • Implementation, testing and support of multiple intraday/ real-time settlement systems like UK Faster payments.
  • Implementation and support of Cheque truncation systems
  • Rule-based workflow and exceptions and STP management: Conceptualization, testing and support of Rule-based Workflow driven processing, Exceptions and Investigations services ensuring high STP rates
  • 3rd party integration: Integration services to domestic payment networks and 3rd party payment initiation channels/ corporate interfaces for payment initiation
  • User Dashboard solution for Corporates: Real-time dash boarding services for monitoring transactions
  • Supports physical and electronic collections including Mandate management
  • Settlement and Reconciliation services Provides for Reconciliation and settlement functions including generation of Settlement reports
  • Stress testing services for Payment queues and processing engines.

Tech Mahindra offers proven solutions in the space of cross border low value, high value and bulk payments. The solution caters to various regulatory requirements and enhanced business needs of customers.  We assist in building robust and comprehensive real time solutions with state of the art analytics. Our solutions are based on SOA design that allows flexibility, agility and scalability. Some of our service offerings include:

  • Support for end to end Cross border payment processing functions: implementation, testing and support of cross border payments and settlement functions including file processing, transaction routing, transaction validation and fee calculation.
  • Support for major Cross border networks: Implementation, testing and support services for major cross border systems - SWIFT, ISO20022 based messaging, SEPA, Target2, NACHA etc.
  • Correspondent banking: Support for Correspondent banking enablement, Maintenance of Nostro and Vostro, Network directory maintenance
  • Rule-based workflow and exceptions and STP management: Conceptualization, implementation, testing and support of Rule-based Workflow driven processing, Exceptions and Investigations services ensuring high STP rates
  • User Dashboard solution for Corporates: Real-time dash boarding services for monitoring transactions
  • Enhanced ROUTING framework
  • Payments services Legacy integration: Integration, testing and support services between legacy applications with messaging applications
  • Payments Infrastructure management services: 24*7 processing and monitoring services of Cross border payment systems ensuring zero downtime.
  • Stress testing services: for Payment queues and processing engines.

Tech Mahindra has the capability to build bespoke solutions as well as implement third party product based Corporate Banking Front ends. Corporate Banking front end solution is a user friendly one stop solution for all corporate treasury needs including Payment Initiation and Reporting. In addition, our solution offerings including the following:

  • Digital Corporate Channel definition/ design: Web/Mobile/Tablet
  • Re-architecting / Re-engineering channel interfaces
  • Gamut of solutions covering different areas of corporate banking like Cash management, Trade finance and Supply chain providing an end to end service.
  • Implementing user friendly features and enhanced customer experience with consistency in look and feel across the bank’s user interfaces
  • Ability to implement new product and solutions with very reduced GTM capabilities
  • Functional / Technical specifications based on industry framework (BIAN)
  • Specialized Usability services to analyse front end effectiveness and suggest improvements.

Tech Mahindra offers proven integrated Cash Management services that enable banks to bundle its corporate banking products in multiple ways based on regional and global needs of the bank to meet the specific needs of the corporate customers of the bank. Our solution offerings not only cover the traditional payments, receivables and liquidity management but also extend to supply chain financing, cash flow forecasting and electronic invoice presentment and payment.

Some of the key areas in Cash Management that Tech Mahindra focuses are as follows:

  • Liquidity management solutions which includes the traditional concentration and pooling products and also investment sweeps and inter-company loans with focus on liquidity optimization in a multi-country, multi-currency scenario Target Balancing and Notional pooling based liquidity solutions.
  • Receivables and Payables management for large corporates as well as SMEs
  • Cash flow forecasting
  • Balance reporting & Nostro reconciliation
  • Multiple customer access channels like internet, smartphone and tablets which enables corporate customers to conduct business on the move.
  • Seamless integration to corporate systems: Solution that enables faster time to market with innovative features like STP and easier integration with the other applications in the bank to meet the future needs of the banks’ corporate customers.
  • Host to host connectivity to support better processing speed of the banks’ payables, receivables and liquidity management products.
  • Customer on boarding: Centralized cash management solution which supports easy on boarding of corporate customers, multi country, multi-entity and multi-currency capabilities which can support country and region specific products but at the same time provide the banks customers a global view.

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Cost of ownership on Data Management

Cost of ownership on Data Management
For further information please write to connect@techmahindra.com

For further information please write to connect@techmahindra.com