Finozone

Traditionally automation in banking sector has been focused on the computerization of the front office operations. Undoubtedly FinOzone has brought in significant gains in branch productivity and superior service level to the end customer.

However, collection and consolidation of information from front and transaction systems to meet various business need like statutory reporting, internal control, business planning etc continue to be labour intensive, time consuming and lack timeliness. The situation is further complicated by the multiple front-end systems on different vendors being used by the Bank.

FinOzone, Nelitoa s MIS consolidation component of Core Banking Solution, offers a cost effective feature-rich system that offers opportunity to streamline the data collection, analysis, delivery and its effective business usage by:

a c Consolidating data from the front end transaction system
a c Reducing the cycle time to produce statutory financial statements
a c Providing the cycle time to produce statutory financial statements
a c Reducing the operational risks by providing relevant business critical information in a timely fashion
a c Supporting hierarchical operational structure
a c Allows Banka s control and reporting hierarchies to be defined for information exchange. Up to seven levels of hierarchies can be defined. A typical four level hierarchy is branch, region, zone, and HO
a c Allows use of diverse data transporting strategy to be used. Supports use of leased line.