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FinnAxia – Integrated Transaction Banking Suite

Nucleus Software's FinnAxia is an integrated global transaction banking solution built on latest Java J2EE technology over Service Oriented Architecture (SOA) platform. FinnAxia enables banks to breakdown traditional product silos, launch personalized products/services over multiple channels and achieve operational excellence. Banks can provide their customers a single and real time view into their accounts across

  • Editorial Team
  • May 12, 2021
  • 3 minutes

Nucleus Software's FinnAxia is an integrated global transaction banking solution built on latest Java J2EE technology over Service Oriented Architecture (SOA) platform. FinnAxia enables banks to breakdown traditional product silos, launch personalized products/services over multiple channels and achieve operational excellence. Banks can provide their customers a single and real time view into their accounts across multiple entities, currencies and jurisdictions, and also give them access to tools that help them manage their cash and working capital better on a 24*7 basis. The suite provides end-to-end solutions from Receivables, Payments and Liquidity Management to Financial Supply Chain Management. It empowers financial institutions to establish and maintain a market-leading presence through the flexible, speedy and efficient execution of transaction banking processes.

The key product components of FinnAxia are:

  • Global Receivables
  • Global Payments
  • Global Liquidity Management
  • e-Financial Supply Chain Management
  • Business Internet Banking
  • Mobile Transaction Banking

FinnAxia Global Payments is a comprehensive payments solution that enables banks to handle both low and high value payments for corporates such as vendor payments, salaries and tax payments. The solution is capable of managing bulk processing of domestic and cross border payments backed by effective management of debtors and creditors who directly impact the efficiency of corporate working capital. FinnAxia Global Payments arms banks with a comprehensive set of features to manage payment initiation, payment processing, authorization matrices, A/P reporting, advising & alerts along with payments reconciliation for the bank’s corporate customers. Important features include Bulk payments, payroll, cheque printing, supplier vendor payments, standing orders and managing correspondent bank relationships for multi-currency payments in multi country and multi time-zone environment.

FinnAxia Global Receivables Management provides a comprehensive set of features geared to manage bank’s corporate customers’ receivables needs, across currencies, transaction types and jurisdictions. Supporting both paper and electronic modes of receipt, the solution facilitates banks in defining flexible collection products based on the corporate banking operating model, thereby ensuring optimum fund consolidation viz; Cheques, Cash, I-ARMS, Invoices Matching, E-Receipts, Virtual Accounts, and Direct Debits. The solution can connect to multiple host systems for a seamless and integrated view, provides user-friendly  A/R reports and alerts and also comes with cash flow forecasting capabilities.

Global Liquidity Management helps banks provide a 360 degree visibility of cash positions to their corporate customers resulting in better utilization of available funds and reduced interest costs (through short-term bank borrowings). Banks can setup and manage complex cash concentration and pooling structures for automated fund movements and consolidation within the corporate headquarters and its subsidiaries. Global Liquidity Management automates all transactions, interest & tax calculations and manages a registry of intercompany lending/borrowing history and limits for the corporate entity.

e-Financial Supply Chain Management offers an integrated way of managing invoice presentment and transaction processing across a Corporate's supply chain, covering its entire supplier and dealer ecosytem.      e-FSCM aims to optimize working capital, automate operations, eliminate paper and manual processing and bring about operational efficiency in the supply chain management workflow.

Business Internet Banking is the internet front end for bank’s customers to view and manage their total financial position, anywhere and anytime. It has a responsive design for anytime anywhere access and a flow driven menu for navigation ease. The system allows the bank to swiftly set up and provide role based access to new transactional users ensuring greater employee efficiency. The customizable dashboards provide a 360 degree visibility of transactions and enables single window operations for payments and receivables. It also comes with speedy query resolution capabilities through online chat and customer service desk.