United Bank of India: Streamlined Cash Management Process

United Bank of India (UBI) is one of 14 major banks in India which were nationalized on July 19, 1969. The Bank has 28 regional offices and 1440 branches, over Rs. 37,167 crores of deposits and Rs. 22, 641 crores of gross advances as of March, 07. UBI is also known as the 'Tea Bank' because of its age-old association with the financing of tea gardens. It has been the largest lender to the tea industry.

The Challenge:

To make a user-friendly system for Cash Management; so that the users could adapt to it easily and don't have to face any technical hindrances.
Some UBI branches were connected to the Core Banking System (CBS) while quite a few were yet to be moved to the CBS. To interface with both the systems mainly for posting the accounting entries was a tedious task but with the help of our technical and functional experts, all problems were solved satisfactorily.

The Solution:

The web based Cash Management system provides a closely woven suite of modules taking care of all the Cash Management functionalities of Collections, Payments, Liquidity Management, etc. Each of the modules can function independently or in collaboration to the existing modules.

It helps the Bank in:

Processing large volume of transactions
Product customization using workflow
Multi Currency, Multi Country, Imaging and STP Functionalities

The Results:

Converting opportunities into lucrative business
Automation of the processes leading to faster Turn Around Time (TAT)
Optimum utilization of the wide spread Bank Network to maximize the profit level
Formulate newer business strategies by using the unique cash management features and functionalities