Tracom’s bespoke banking applications are not only designed to complement the shortcomings of core banking applications but also help automate heavily manual processes, minimize or eliminate inefficiencies, enhance inter-operability of divergent systems and provide innovative customer-facing solutions.
EDI (Electronic Data Interchange)
Software that works with the bank’s internet banking system to process mass payment files from customers’ financial systems, undertake validation and re-format the customers’ files into the specific format that is admissible by the core banking system.
Rather than prescribe to customers the format that they would submit mass payment files in, a leading bank approached Tracom to harmonize the diverse types of file formats sent by customers into one common format. Tracom deployed EDI to reduce the pre-submission processing burden on the part of the customer, thereby helping boost customer satisfaction. On the other hand, file payment delays owing to errors and incompatibility were greatly minimized.
ARGEN (Automated Audit Repots Generator)
ARGEN is a system that automatically generates audit-related information pertaining to customers in line with the bank’s internal policies/procedures and customer requests. Besides improving customer satisfaction, the solution helps the bank eliminate the risk associated with furnishing the customer with erroneous information drawn from manual processes.
At one of the leading global banks with a presence in Eastern Africa, the manual process and head count involved in generating audit reports and audit letters was intolerable. Since adoption of the system, the bank
Automated ATM Reconciliation
The ATM Recon product is a highly automated tool that undertakes ATM reconciliation more rapidly, with ease and generates informative reports, at branch and head office levels in a timely manner. Plans are afoot to upgrade the solution to be able to debit and credit affected accounts in an automated fashion.
At one of the top three banks in Kenya with an ATM estate of over 200 ATMs, the head office headcount alone before adoption of the solution was at 30. The automation enabled the bank to minimize the resources and time spent in manual reconciliation at its branches, besides drastically reducing both errors, and the head office headcount by over 75%.
MMPE (Mobile Mass Payment Engine)
The Tracom Mobile Mass Payment Engine (MMPE) suite is a set of applications that comprise of a highly robust mobile mass-payment engine that processes mass payments and collections to and from a bank account, via a mobile operator’s mobile money system. MMPE boasts in-built reconciliation and reporting modules and is highly parameterized to conform to a bank’s requirements.
Seeing how long it took, and how logistically inefficient it was to pay thousands of rural farmers via conventional payment methods, a leading bank in the country opted for mass mobile payments. However, the challenge was how the bank would integrate its core banking systems with those of a mobile network operator, and how it would grapple with the issue of refunds, unsuccessful transactions and the resulting reconciliations. Tracom successfully undertook the integration and the bank has since turned the service into a revenue generator and customer satisfaction instrument for its customers.