India – February, 21 2018
Aurionpro Solutions Ltd (NSE: AURIONPRO) (BSE: 532668) today announced that HDFC Bank (HDFC) has gone live with the upgraded version of iCashPro+’s Nostro reconciliation module which is a web based solution that would empower the bank with a consolidated platform for Indian and overseas branches. This automated platform will enable HDFC Bank branches to auto balance reconciliation the Nostro accounts for enhanced transaction management.
- Upload SWIFT MT940 /MT950 (External files – Account Statement) for multiple accounts maintained in the system. Same time validations executed while uploading external file.
- Upload of UBS – FCC files (Internal files – Core banking system) for multiple accounts maintained in the system
- Reconciliation engine with the Matching Rules defined
- Auto-matching/Manual Matching (One to one, One to many, many to many)/Unmatching/splitting
- Reports: Key repots : Outstanding, Balcur report, Internal statement, External statement, List of Match transaction, Ageing Analysis.
Mr Sharad Bishnoi, Executive Vice President, HDFC Bank, Mumbai, India said: “Our relationship with Aurionpro extends over 14 years and as always, we are pleased with the Aurionpro solution and delivery commitment. This implementation heralds another milestone in our journey towards providing solutions that anticipate customer and market needs. Aurionpro Nostro Reconciliation module has delivered the automation and efficiencies we were seeking from the previous labour intensive process within the Nostro reconciliation function.”
Commenting on the successful implementation, Shekhar Mullatti, Global Head, Banking, Aurionpro said, “We are delighted to be the chosen partner for HDFC Bank, one of India’s premier banks for automation of Nostro reconciliation. Now the bank is empowered with consolidated system for Indian and foreign branches this will improve efficiency, and reduce delinquencies.”
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India’s leading housing finance company, HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 37 million customers across hundreds of Indian cities using multiple distribution channels including a Pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and the ability to deliver world class service with rapid response time. Over the last 22 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of December 31, 2016, the Bank had a distribution network with 4,555 branches and 12,087. ATMs in 2,597 cities/towns. For the quarter ended December 31, 2016, the Bank’s total income was INR 207.48 billion (Rs 20,748.3 crore) as against INR 182.83 billion (Rs 18,283.3 crore) for the quarter ended December 31, 2015. Net revenues (net interest income plus other income) were INR 114.51 billion (Rs 11,451.8 crore) for the quarter ended December 31, 2016, as against INR 99.40 billion (Rs 9,940.7 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended September 30, 2016, was INR 38.65 billion (Rs 3,865.3 crore), up by 15.1% over the corresponding quarter ended December 31, 2015.
Total income for the year ended March 31, 2016, was INR 709.73 billion (Rs 70973.2 crore). Leading Indian and international publications have recognised the bank for its performance and quality.
For more information, please log on to: www.hdfcbank.com.
Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) Aurionpro is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry leading IP to deliver tangible business results for global corporations. Employing more than 1,200 domain and technology experts across North America, Asia and Europe, Aurionpro caters to a host of clients across BFSI, Telecom and Logistics industry.
For more information, visit www.aurionpro.com