What we can provide to your businesses
NCore specialises in providing Banks with electronic delivery channel products to embrace and extend their customer touchpoints. NCore's electronic banking product family encompasses multi touch point banking services such as the Internet, Mobile and Phone banking delivery channels.
The NCore electronic banking platform allows Banks to extend its fee based revenue streams by facilitating both local and international payment / fund transfer transactions. These transfer transaction types allow Banks to expand on their e-commerce and traditional branch based business.
A key component to the NCore product family is its XGate Enterprise Application Integration middleware platform that allows for quick and seamless integration with the existing legacy platform systems of the Bank. XGate forms the core foundation technology that all of NCore's products are built on top of.
As Banks reach out to service their customers and partners more intimately, the need arises to provide for strong authentication security systems to mitigate identity attacks through the various phishing and trojan schemes. It is to this end that NCore provides ubiquitous mobile phone based 2 factor authentication (2Fa) tokens to address the security needs for strong authentication and transaction authorisation.
Electronic Banking
Today's customers are demanding online services. They'll go elsewhere if your Financial Institution doesn't provide them. Multi-channel Electronic Banking is not the future, it is now.
Fortunately, NCore now offers you VirtuaBanker, a realistic and affordable solution. We can help you add Online Banking to your customer service options within weeks, without the pohibitive cost usually involved.
If you are now on the verge of entering the online market, VirtuaBanker can represent a significant leap forward for you.
It's an extraordinary opportunity to expand the range of your present market and serve your existing customers where they want to be served - in their homes.
Enterprise Application Integration
In both "look and feel" and functionality, your online operations have to work seamlessly as part of your Financial Institution's overall operations and image.
VirtuaBanker has been architected on a flexible transaction middleware (code named XGate), which will easily integrate with your existing back end legacy Host Core Banking systems. The middleware has been designed to inter-operate with your Host systems either at the database, screen, transaction or messaging level utilising the existing Host message formats and communication protocols.
To your customers, your online presence will be in complete visual harmony with your Company's image.
Most likely you will already have a web site (without transactional capability). There's no need to change that. VirtuaBanker can be unobtrusively yet efficiently integrated into your site your customers are already familiar with.
Strong Authentication
2 Factor Authentications
The NCore Soft Token Mobile Authentication add-on solution (vToken) helps Financial Institutions deploy strong, two-factor authentication for their users without incurring the costs and challenges associated with hardware tokens, readers and the associated software on each workstation.
vToken runs on all intelligent mobile phones, PDAs, and any Java enabled mobile device. The soft token is lower in cost and more convenient because it uses existing devices that most users already own. As an added benefit, user resistance is significantly reduced since users typically are already comfortable carrying and using these devices.
VirtuaRemit
End-to-End Automated Remittance Processing Platform
The VirtuaRemit Automated Remittance Processing System is a web based application designed to streamline and simplify the processing of inward and outward remittances by providing a single remittance processing platform that will interface with remittance carriers/facilities such as SWIFT, Local Currency or Dollar Clearing Systems and Overseas Foreign Worker Funds Transfers.
Origination
The VirtuaRemit Origination sub-system is a web based branch level system that is used by banks and remittance companies to originate remittance transactions.
Key features include remitter / beneficiary database, transaction origination and maintenance, general ledger and auto GL entries generation, treasury services, currency and exchange rate management, anti-money laundering and know your customer (KYC) features, rule based charges engine and extensive system parameterisation.
Remittance Gateway
The XGate remittance gateway allows banks and remittance companies to quickly and easily connect to foreign remittance partners with minimum programming.
With the XGate Process Editor (XPE), operations personnel implement online real-time links diagrammatically to the 3rd party systems of remittance partners. The XPE tool generates software code automatically which is then uploaded into XGate.
The XGate remittance gateway manages the data communication protocols with the various systems of remittance partners, performs message formatting / dissection and data mapping of message fields.
Distribution
The VirtuaRemit Branch Teller sub-system allows banks and remittance companies to process and payout remittance claims by beneficiaries of a remittance transaction.
VirtuaRemit Branch Teller is the single user interface for the branch personnel to access remittance data from multiple remittance service providers.
VirtuaRemit Features and Functions
Global Processing Architecture
The VirtuaRemit platform has been architected to meet the processing demand of multi-country operations spanning the globe.
A key advantage of such architecture allows for the bank or remittance company to deploy into different countries and territories with relative ease and speed. The main attributes of the platform architecture include:
- Centralised Processing
- Business Rule Consolidation
- Common Integration Architecture
VirtuaRemit Technology
The VirtuaRemit platform is built using state-of-the-art Internet and Service Oriented Architecture (SOA) technologies. The very latest in XML data management and transformation techniques, straight through processing (STP) mechanisms, middleware sub-systems, web automation, rule based engines, .NET and Java Web Services technology are employed.
Unlimited Branches and Agents Worldwide
With its web based front-end, the VirtuaRemit platform allows for ease of deployment into countries and territories that the bank or remittance company wishes to deploy into. The VirtuaRemit back office administration module allows for the set up of unlimited branches or outlets in one or more countries and supports 3rd party franchise agents.
Automated Transaction Workflows
Remittance transactions are originated, routed, amended, authorised, approved or rejected and paid out seamlessly within the VirtuaRemit platform. The lifecycle of a remittance transaction is governed by a flexible in-built workflow engine.
Customer Information Database
The customer information repository within the VirtuaRemit platform encompasses both remitter and beneficiary information. The integrated customer information database enables the bank or remittance company to implement effective Know Your Customer (KYC) policies and procedures.
Currency and Exchange Rate Management
The VirtuaRemit system handles multiple currencies as well as multiple exchange rates for each currency. Exchange rates may be applied globally or uniquely for each country, branch or agent.
Rule Based Engine for Charges
As business rules and regulatory compliance vary from one country or region to another, the VirtuaRemit platform comprises an expert system shell that implements a rule based engine. The rule engine allows for the dynamic injection and/or alteration of business rules and parameters without the need to modify, alter or shut-down the system.
Anti Money Laundering Features
OFAC checks and United Nation watchlists may be uploaded automatically into the VirtuaRemit platform. All transactions processed by the system are filtered on an online realtime basis. The VirtuaRemit workflow engine works in tandem with the suspicious transaction filter to flag and isolate questionable transactions.
Extensive Reporting
The VirtuaRemit platform is packaged with a comprehensive set of management, operations and regulatory reports. Reports may be generated on an ad-hoc or batch basis, and may be output into a range of formats. All reports within VirtuaRemit are easily customisable and extensible.
Seamless, Easy and Rapid Integration
Seamless online real-time integration to 3rd party systems of remittance partners is the name of the game in the remittance business. The VirtuaRemit XGate remittance gateway allows for the bank or remittance company to embrace and extend the systems of remittance partners quickly and easily. This is done through the use of the XGate Process Editor (XPE) which is a graphical tool that enables the user to define the integration link with any 3rd party system.
