In today's fast-paced and constantly evolving business world, managing a bank can be a daunting task. Banks must manage numerous customer accounts, process transactions, comply with regulations, and handle financial reporting, all while maintaining a high level of customer satisfaction. This is where Enterprise Resource Planning (ERP) software can come in handy.

ERP for banks is crucial for managing banking operations efficiently and effectively. It provides a comprehensive platform for managing financial and non-financial activities across the organization, including accounting, human resources, marketing, procurement, inventory, and customer relationship management. Here are some of the key reasons why ERP for banks is so important:

Integration of Operations

ERP software provides an integrated platform for managing different operations of a bank. It enables the bank to manage all functions in one place, ensuring that all departments can easily share information and work together effectively. This allows for better collaboration and more efficient decision-making across the organization.

Streamlined Processes

ERP systems automate routine banking processes and streamline workflows, making it easier to manage a bank's day-to-day operations. This eliminates the need for manual work, reduces errors, and minimizes the risk of fraud or other financial crimes. Additionally, it enables banks to provide more efficient services to their customers, which can lead to increased customer satisfaction.

Accurate Financial Reporting

ERP for banks provides accurate financial reporting, which is crucial for regulatory compliance and risk management. This includes tracking financial transactions, generating financial reports, and ensuring that financial data is up-to-date and accurate. This helps banks to manage their financial risks, comply with regulations, and make informed business decisions.

Better Customer Service

ERP software for banks can help banks to better understand their customers and provide more personalized services. By tracking customer interactions, preferences, and feedback, banks can tailor their services to meet the needs of individual customers. This can lead to improved customer satisfaction and loyalty.

Cost Savings

Implementing ERP software for banks can result in significant cost savings. By automating routine processes and streamlining workflows, banks can reduce the need for manual labor and decrease the risk of errors and fraud. Additionally, ERP systems can provide real-time data, which can help banks to identify areas where they can reduce costs and improve efficiency.

In conclusion, ERP software is a valuable tool for banks looking to manage their operations efficiently and effectively. By integrating operations, streamlining processes, providing accurate financial reporting, improving customer service, and reducing costs, ERP for banks can help banks to stay competitive and achieve long-term success.

IT IS OUR RESPONSIBILITY TO PROTECT PERSONAL INFORMATION OF OUR CLIENTS, AND WE TAKE THIS RESPONSIBILITY VERY SERIOUSLY.

Mindmill is committed to the choice and transparency when it comes to protecting our client’s privacy and that of all the users who visit our website & use our applications. This privacy policy is drafted to outline how Mindmill collects, stores, processes and manages the information that the client (also referred to as “User”, “You” or “Your”) provides us. The Policy also highlights your rights in terms of your data and how to contact us in case of any queries. We hold the right to make changes to our privacy policy at our sole discretion and it is the sole responsibility of the user to check this section for regular updates. This Policy Applies to our users who choose to use our website, use our applications, subscribe to our newsletter and products, request information or use our chat support service (altogether referred to as “services”). This privacy policy is drafted to assure the users that any information provided by them through various modes will not be misused, sold or rented to third parties by any means or under any circumstances.

How Do We Collect Data?

Based on the service used by the user, data is collected by using one or more of the three below mentioned methods-

Information Entered By The User

When you request any of our services, we may ask you for some of your personal information and other information, which may be used by us for processing your request. This information will include such details as: Your Name Your Country Your Email Id Your Skype Id Your Phone Number Other information that you choose to share

Cookies

Cookies are minor files transferred to your device/computer when you use our website for the first time. The information collected using these cookies is processed by us for the purposes of analyzing the traffic and other trends. This data is collected on the basis of “implied consent”, where we assume that by using the website, you choose to agree with our terms of usage until you choose to do otherwise. You can easily opt out of sharing your information through cookies, by changing your browser settings to “do not accept cookies”, browsing in anonymous mode or by not using our website. Our services also have links to third party sites and services that may use third party tools. The privacy policy of these sites may be different from us and we are not responsible for their compliance with their policies. Cookies may use certain third party tools to collect user information. Google Analytics- We may collect data about your device/browser, IP address and on-site activities in order to analyze and report about your interactions on our website. We may use this data to enhance the user experience on our site. We do not collect your personally identifiable information using cookies. To understand how Google analytics handles your data, read their privacy policy.

External Tools

We may use some other tools to collect information and data about user interaction and behavior. These tools may include-

Email Marketing Tool - We track the promotional emails sent to the users to analyze the response they bring. We may also track the email opening rate to analyze click rates and use this information to improve user engagement in the future. We may use any email marketing tool like Mailchimp etc. and those tools shall be governed by their own policy of privacy.

Social plugins - Our services contains links to different social media platforms like LinkedIn, Google Plus, Facebook, Twitter etc. for the purpose of increasing user engagement and our social visibility. If you click on any social media link on our website, they may be able to collect, use and share your data, governed by their respective privacy policies, for which we shall not be liable in any way.

Why Do We Collect Your Data?

The data collected when a user interacts with our services and processed by us in order to-

• Provide personalized services
• Your Country Laws
• Enhance security of Data
• Improve user engagement
• Enhance our performance
• Perform Application Functions and User Choices
• Perform Statistical Analysis

Your Data Security

It is extremely important for us to keep your personal data secure and for this we take every measure necessary to protect your data. We have strong technical, administrative and physical barriers, put in place to guarantee that your data can only be accessed by authorized personnel at Mindmill.

How is your Personal Data Used?

We collect, store and use your data for our internal purposes and service delivery, that are entirely covered by the law. We may use your data to-

• Provide requested services.
• Communicate with the users using notifications, email or other contact information provided by the user.
• Improve our user experience on the website.
• Enhance our services.
• Provide requisite data to third parties that helps us enable our services.
• Verify the legitimacy of the user.
• Conduct internal research and data analysis.
• Enforce our terms and conditions.

We do not share, rent or sell your personal data to third parties, except where-

• Your consent is obtained explicitly.
• It is mandated by the law.
• A third-party is a collaborator or part of Mindmill.
• To provide requisite data to third-party that helps us in delivering our services.

What You Can Do?

You as a user have complete control over the information you provide us and if you want us to use your data. At any time, you can choose-

• Not to share your information further with us by simply not using our services and not using our chat support.
• To unsubscribe from our mailing list and notifications to stop receiving any kind of communication from our side.

To change your consent, provided details for specific usage of your data or to entirely stop using our website or any other services send us a written email at This email address is being protected from spambots. You need JavaScript enabled to view it..

To contact us if you have any query regarding our privacy policy write to us on This email address is being protected from spambots. You need JavaScript enabled to view it. By continuing to use our services, you are agreeing to our policies.

 

 

 

The Worlds 1st and Only Cross-Platform Banking ERP and CBS with Generative AI Integrated

 

BankMill Magic offers 100% Complete Banking ERP centred around our flagship CBS functionality for all bank sizes from large commercial banks to smaller financial institutes such as MFIs and Cooperative Banks

BankMill MagicTM - Core will spellbound you with its magical features:

•  Charts.
  • Custom charts in forms of line chart, pie chart and histogram are associated with screens
• Chatbot.
  • AI based chatbot is included on every screen to answer your and your customers’ queries.
• Cutting Edge Security: 
  • BLAKE2 (Better than SHA2) for hashing 
  • AES (better than 3DES) for encryption
  • User login is based on authorised device id check
• Multi-factor authentication -
  • OTP and Biometric based login access
• n-Tier architecture
• Regular Expression based syntactic checks at 2 levels (Front end and Middle Tier)
• Dynamic Fields
  • (Only those fields will magically appear which you need, the remaining stay hidden based on context)
• Generative AI Based Software:
  • Screens and Fields along with validations and connection to the middle tier / database can be made within moments.
• Inbuilt Modes
  • Training, user test and demo
• Interstellar Speed.
  • The technology used such as MongoDB (100 times faster than SQL) in combination with proven and many new cutting edge technologies gives you speeds that you have never experienced before. All UX processing is done on the client computer and not server.
• Multitasking (Multiple Tabs):
  • The software allows the user to open multiple tabs and the user can work on them simultaneously.
• Multilingual Software.
  • Both transliteration (script change, e.g. “Ajay” to “अजेय”) and translation (dictionary base, e.g. “Home” to “घर”) supported at a flick of the switch.
• Print Reports / Download Data from every screen
• Regular Expression based syntactic checks for each field (Both in frontend and backend)
• Responsive/Cross-Platform Front End.
• The software can run on any device from Desktop to a mobile phone browser and is also available as an app for IOS and Android. The screen and fields rearrange themselves magically based on the device size and layout. You can now do your work literally from any place on this planet.
•  
• Stunning and User Friendly UI
  • gives an ethereal feel when you work on it with such amazing features as auto screen resizing, cascading navigation panel, floating labels on each field and soothing colours.
• Search returns a spreadsheet style
  • output with all spreadsheet style actions allowed such as printing, downloading, searching,  sorting, hiding, moving columns and filters.

 

 

The main USP of the product is its extensive use of AI based RBE (Rule Based Engines) and Heuristics based AI code which is spread across the entire software. The ecosystem of the various AI codelets is controlled by an extensive system of neurons which constitutes the brain of the software.

The administrator can use this AI capability to generate new screens, and modify the fields or add language features in any field including translation and transliteration. This will enable organisations to create the application which suits them 100% rather than using an application which is “One size fits all”.

 

Development Journey

BankMill MagicTM takes off from where BankMill 1.x left off. The journey was a parallel development of technology which took over 3 years to conceive, develop and test. The team included the best brains the world has to offer to bring together amazing design, technology, research and development. Its a unique confluence of a brand new front end with the good and tested stability of BankMill 1.x

Responsive Frontends

Application will work on all devices. The images below show the "Person Screen" on a laptop and a mobile screen. Notice how the fields are chained together and appear left to right on the lap top screen and one below the other on the mobile screen.

These are shown below:

Desktop Screen

Mobile Screen

Unique Features & Benefits

The unique features of BankMill rarely present in any other CBS :

• Normalized/Centralized Database  
• Neural Nets
• Blockchain In Audits And Balance Sheets 
• Straight Through Processing 
• Single Customer, Member Registration And Account Opening Screen
• Duplicate Customer Check Based On Name And Address
• Suspicious Transaction Alert
• Blacklist Handling
• 24/7 Support
• Agent Commission
• Automatic NPA
• Day End 
  • Both Automatic And Manual Option Available
  • Both Centralized and Branch Based Options Available
• Dashboard (Configurable)
• Auto Inter Branch Reconciliation
• Customer Category Auto Updating (Normal To Senior Citizen And Senior Citizen To Super Senior Citizen)
• Virtual Accounts 
• IMPS (Both Outward And Inward)
• Enterprise Service Bus (SOA/ ISO 8583 Xml / Stream Based Interface) (These Are API’s For IIIrd Party Interface)
• GST/CGST 
• 150+ Automatic Service Charges 
• 3DES Encryption 
• MD5 Encryption 
• Multilingual 
• WhatsApp Banking 
• Chatbot Banking
• All RBI/Xbrl Reports 
• Complete Legal Module 
• Complete Loan Origination System Module 
• ATM Reconciliation
• All Modules Integrated 
• Own IPR 
• VAPT Certified 
• Cmmi Level 5  Certified
• CISA Certified
• 100% Parameterizable 
• Compliance To Latest Security Norms 
• More Than 1M Transactions Per Day 

Cost Reduction Features

BankMill™ offers the lowest total cost of ownership and operations compared to any other CBS available in the market. This has been made possible by incorporating the following features:

• All  the modules in the system are 100% integrated with each other. There is no movement of files and no manual processes are needed to accomplish inter-module transactions. All inter-module and inter-branch transactions happen in true real time.
• Reports are available in Java which implies the bank does not have to invest in IIIrd party reporting tool licensing such as Crystal Reports.

Security Features

Audit Trails: Audit trail of each transaction in the system is kept with date, time and user-id stamp.

• 3DES Encryption: All data between a device and the backend is transmitted after encrypting it with industry standard 3DES encryption. This prevents any snoopers from sniffing the channel and getting financial data information.
• Md5 Encryption: All passwords are kept using industry standard MD5 encryption. This prevents the administrator from knowing the passwords of any user.
• Data Security: Data is kept secure using database login and password
• Access Security: By Role and Rights explained more in Administration Features

Administration Features

Fully integrated with a variety of delivery channels such as Internet Banking, Mobile Banking, Email Alerts, Touch Screen Kiosks and IVR systems.

• Product Definition: Highest possible level of parameterizing available
• Interest Definition: High level of parameterization available
• Masters, Control Values and other Parameters: : High level of parameterization available Service Outlet Concept: Each branch or delivery channel is designated as a service outlet and each transaction can be tracked at a service outlet level.
• Maker Checker Concept: Allows the bank to have double or triple checks in place by having one person make an entry, another to verify it and sometimes if necessary a third to re-verify or enable it.
• MindConnect™: Allows the bank to provide financial transaction access to IIIrd party solutions such as ATMs and Credit Card Institutes such as MasterCard and Visa.
• Multilingual
• Roles and Rights: A bank can create various roles (designations) based on its Organization Chart and associate view, create, modify and delete rights on each screen as well as access to the screen itself.

Customer Related Features

• Unified Relationship Management across related but different customers and Multiple Accounts of the same Customer
• Single account book means all transactions across all delivery channels are made at the same place and the customer can get a unified view of his account.
• Accounts can be opened at any level including tellers.
• All customer services are available, including cash, clearing, and transfer.
• Completely parameterized standing instructions input and execution including prioritized debit from multiple accounts and rule based credit to multiple accounts.
• Cash pooling of all accounts of a customer for interest purposes with rule based amount outflow to different accounts to allow customers the maximum benefits across branches
• Statement printing is available from all the various delivery channels

Accounting Features

• Real time transaction processing
• Straight through processing
• Tree Based multi level GL Head Structure
• Single bank-wide General Ledger, Profit & Loss and Balance Sheet for all modules
• Detailed MIS including Asset Liability Reports
• Text and WYSIWYG (what you see is what you get) based Reports
• Inter-branch Reconciliation
• True Multi Currency

Other Features

• Regulator based Image based Inward Clearing File based inward clearing
• Deposit Receipt, Passbook, Remittance, Membership Certificate, Share Certificate, and Notice Printing

Technology

The front end uses technology such as:

• Javascript
• CSS
• HTML
• DOM
• Ajax
• REST API
• JAVA
• Spring

Configuration Storage is MongoDB. The middle tier and backend tier uses Java and SQL respectively. Data interchange happens via encrypted and compressed JSON/XML structures.

The software can work with any standard RDBMS such as MS SQL, and Oracle

About Mindmill

Mindmill was established in 1993. It has over 300 full time employees and clients in 22 different countries. It provides software solutions and support to clients all across the world directly or via its local authorized partners. It has products in the BFSI domain and BankMiIlTM is its flagship product. It is an ISO 9001:2008 and CMMi Level 5 Certified company.

Contact

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Business Development

Mindmill Software Limited

Mindmill Corporate Tower

24A Film City, Noida, UP 201 301, India

Tel: +91 120 414 2000

URL: www.mindmill.com

 

Mindmill has an exceptional level of expertise  in implementation of CBS using cloud architecture including WAN design and Security Setup. Mindmill has unparalleled response and 24 x 7 help desk  to support clients all over the world.

Click Here To Apply Online (Help Desk Job)